Irish shoppers set for €4.25bn Christmas spree
Businesses are expecting shoppers to spend a massive €23 million every hour on Christmas Eve, possibly as money is withdrawn from SSIA savings accounts.
Retailers estimate spending will be up 10% on last year — the first time since 2002 expenditure has increased so high.
Separate figures from analysts Deloitte yesterday put Christmas spending at €1,339 per household, outstripping the US (€1,299 per household) and Britain (€1,057). They estimate the average household will spend €824 on gifts, €251 on festive food and €264 on socialising.
Yesterday, small business leaders called on consumers to spend their money on Irish goods and to help support Irish-produced goods.
The Small Firms Association (SMA) suggested if every household spent €100 on Irish goods, then €200m would be generated for home producers.
“This amount would have a significant impact on small business and Irish jobs,” said SMA chairman Pat Crotty.
The SMA said full employment, the booming economy and SSIA money would contribute to a likely record expenditure.
Deloitte’s analysis of Christmas shopping trends revealed the average Irish consumer will buy 18 presents this year — the highest in Europe.
On children’s Christmas gifts alone, the Irish will spend €121 — double the European average — with dolls, toy figures, video games and compact discs among the big sellers.
Popular presents for adults will be compact discs, clothes and books, as well as flat-screen televisions and mobile telephones, according to the survey.
Last Christmas, analysts Amárach said around 250,000 people did their festive shopping online and spent €216 on average.
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