Spending spree is good news for retailers

IRISH consumers are on a massive shopping spree spending 8.3% more that they were 12 months ago, despite plunging €177 million a month into Special Saving Incentive Accounts (SSIA).

Central Statistics Office (CSO) figures released yesterday show Irish consumers spent 8.3% more in money terms in September than they did September 2001 and it not just inflation that is pushing up the value of sales as volumes jumped by 5.2% over 12 months.

The CSO’s provisional data indicates that Irish shoppers spent 6.1% more money in September than August, buying a massive 6% more goods by volume in September than in August, the biggest move since January 2000.