The value of retail spending among consumers in Dublin increased, but at a slow pace in the third quarter of 2023, research shows.
According to the latest MasterCard SpendingPulse, produced on behalf of the four Dublin local authorities, Household Goods was the only segment in which meaningful spending growth was seen during the period.
Expenditure on such goods – which typically consist of high-value ‘white products’ – grew by 0.7%, which was largely in line with previous quarters.
Spending on necessities and discretionary goods was stable during the period.
The data indicated that spending on necessities, such as groceries, showed a 4.2% increase, compared to the third quarter of 2022.
Expenditure via e-commerce platforms also expanded at a strong rate, year on year, in the third quarter (+6.3%).
Commenting on the findings, Michael McNamara, global head of SpendingPulse, MasterCard, said, “Overall retail sales growth in Dublin, as well as across Ireland, decelerated slightly in the third quarter 2023, versus the third quarter 2022.
“In Dublin, the entertainment sector had been seeing large growth rates, recovering from the pandemic, dating back to the third quarter 2021.
“The growth rates in the sector are normalising as we move away from the deep declines experienced during the pandemic.”