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No Christmas Shopping Spree This Year After Consumer Confidence Slides

Shoppers are set to spend less this Christmas as consumer confidence has taken a hit in November. Ac...


No Christmas Shopping Spree Th...

News

No Christmas Shopping Spree This Year After Consumer Confidence Slides


Shoppers are set to spend less this Christmas as consumer confidence has taken a hit in November.

According to the KBC Bank Ireland Consumer Sentiment Index, only one in eight consumers plans to spend more this Christmas than last.

A third of people said they expect to pay less.

Dublin based shoppers and young people are more likely to spend.

Meanwhile those aged between 45 and 54 living in Munster are more negative about their spending than others.

Austin Hughes Chief economist with the bank says Covid-19, living costs and fuel costs have "dampened moods for consumers".

"We see consumers a fair bit more cautious in their outlook."

Mr Hughes added the figures "aren't entirely surprising".

 



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