Green shoots for food suppliers

Consumers are likely to have spent up to €4bn by the time the country’s shops close for Christmas in two days. That will represent a 2% increase on last year. Food purchases will form a large part of that expenditure.

The increased spending is seen by Retail Ireland as a sign of a recovery in a retail economy where turnover fell by almost 25% between its peak in 2007 and a low point last year.

Thomas Burke, director of Retail Ireland, the Ibecgroup whose members employ 350,000 people in 3,000 outlets countrywide, said the sector has had some very tough years, but there is now cause for cautious optimism.