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Consumer Confidence In Ireland Grew In Q2, Nielsen Report Finds

Published on Jul 29 2013 9:35 AM in Retail

Consumer Confidence In Ireland Grew In Q2, Nielsen Report Finds

Consumer confidence in Ireland rose in Q2, according to the quarterly 'Nielsen Consumer Confidence: Concerns And Spending Intentions' report.

According to Nielsen, while 95% of respondents feel that Ireland is still in a 'recessionary mindset', the numbers that are optimistic about their finances (34%) and their future job prospects (16%), have risen since the first quarter of the year.

However, ongoing concerns about job security, the economy and debt mean that Ireland ranked the 15th 'most pessimistic' country globally, when it came to consumer confidence, in the quarter.

'While we are seeing a welcome increase in consumer confidence, the Irish consumer remains cautious, continuing to cut and save where possible,' the report said. 'Possibly it is some positive news around general economic conditions in Ireland which have fuelled increased confidence, however this has not changed behaviours yet.'

69% of consumers say they are now 'switching to cheaper grocery brands' in the current economically-challenged environment, while 26% say they have 'no spare cash' at the end of the month, a decrease of 2% since Q1.

© 2013 - Checkout Magazine by Stephen Wynne-Jones

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