Christmas shopping - Remember to buy Irish

In the present depressed state of the economy many business people are probably hoping that the traditional Christmas business boom will provide a much-needed boost. Irish shoppers normally spent over double the EU average around Christmas.

Spending in the average European home for the festive season is around €600, but this year there are indications that spending in Irish homes will drop to €1,100 according to the Deloitte consumer survey conducted during September and October. About 60% of the decline will be on gifts, which means that people will spend about 30% less on presents.

Although the people of Luxembourg will be the biggest spenders this year, we will still be the biggest spenders when it comes to socialising in hotels, pubs and restaurants.

We will spend about three times more on socialising than our German or Italian counterparts. But spending on socialising will still be down by about 22% this year, while we will spend about 6% less on food.

The impact of the decline could be minimised if people were more conscious of the need to pull together by buying Irish.