Grocery spending rises by almost a third since start of pandemic

People are spending 30% more on groceries since Covid-19 started to impact Ireland in March.
Grocery spending rises by almost a third since start of pandemic

People are spending 30% more on groceries since Covid-19 started to impact Ireland in March.

According to AIB, customers spent 20% more on the day the school closures were announced than they did on any day in the lead-up to Christmas.

Those between the ages of 45 and 54 are spending 38% more than normal on groceries, more than any other age group.

Meanwhile, those between 25 and 34 are spending an average of 36% more while the over 65s have recorded the smallest increase in grocery spend, up 3.4% on normal levels.

However, spend in general is down overall.

Every day since March 13 has seen a significant drop in general spending, with St Patrick’s Day recording a 47% drop in average spending – the lowest of any day since the crisis started.

General spending has dropped with the over 65s who recorded the biggest drop at 27%.

Fergal Coburn, Chief Digital & Innovation Officer at AIB, said: “The Covid-19 crisis has dramatically impacted the lives of Irish consumers and our data shows how consumers are responding to these changes in their spending habits. It also provides valuable insight for Irish businesses who are trying to adapt to this exceptionally challenging situation.

“The data also reflects the reality of the situation, with grocery stores being one of the remaining retail outlets open, seeing a 30% increase in the average transaction. It also reveals the biggest drop off in spending overall has been by those over 65 as they listen to the government’s advice and stay indoors.

“These insights reflect behavioural changes as consumers switch to using their cards to pay for more goods and services. As Ireland most digitally enabled bank, AIB offers consumers a variety of solutions to support this, including a range of digital wallet options and Ireland’s number one banking app.”

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