Irish Retail Sales Sees 4% Increase Ahead Of Busy Christmas Period
Published on Nov 10 2017 11:05 AM
Retail Ireland said that sales values have grown by 4.1% in the third quarter of the year, compared to the same period in 2016, according to its latest Retail Monitor.
The report also indicates that most retail categories saw an increase in performance during the quarter.
Supermarkets and convenience stores experienced growth in the quarter, suggesting that shoppers are trading up rather than taking savings from food deflation, while sales in department stores were up by 2.6%.
"2017 has so far proven to be a relatively strong year for the Irish retail sector." Thomas Burke, director at Retail Ireland Director said.
"Sales values grew across almost all retail categories in the third quarter of this year, with full year increases also recorded."
Christmas Shopping Period
The group, which represents the Irish retail sector, said that retailers are now looking forward to a busy Christmas period and have a legitimate expectation of an improved performance on last year, as pay increases and tax cuts help boost the consumer mood and increase spending power.
"The coming 8-week period will make or break the year for many retailers, with some doing over 30% of their annual trade in this period." Burke added.
"Retailers are hopeful that this positive momentum can be carried into the crucial end of year trading period.”
© 2017 - Checkout Magazine by Donna Ahern