Just 27% of Irish consumers are more positive about the economic outlook for 2019, compared to the 36% who are less confident, according to a recent survey.
The Global Consumer 2019 report, produced by Retail Week in partnership with DWF, surveyed 10,000 consumers in markets including Australia, China, France, Germany, Italy, Kenya, the Republic of Ireland, the UAE, the UK, and the USA to chart the macro trends shaping the global consumer.
The report found that 24% of Irish consumers feel negative about the handling of Brexit negotiations, while 31% still feel positive.
However, almost half (45%) of respondents are still unsure about events post-Brexit. Interestingly enough, the majority of respondents from each country are mostly unsure about the handling of Brexit, except for in the UK, where the majority (49%) feel negatively about it.
Despite the fear of tariffs and border delays, food is still expected to be the strongest category for growth.
Retail, according to the report, is Ireland’s largest industry, accounting for over 23% of total tax receipts to the exchequer - double that of the second largest sector.
40% of respondents plan to increase their spending in this sector.
It noted that Ireland’s online channel will experience the biggest growth, with 31% of consumers saying they plan to up their online spend.
27% said they will increase their in-store purchases, while 21% said they will spend more on mobile devices.
Over half of Irish shoppers (52%) currently use credit to make their payments, double the number in Germany, with almost 60% of shoppers claiming to have less than €280 of disposable income a month.
In Ireland, Family remains the biggest influencer of consumer purchasing decisions, with 32% admitting to their influence.
Retailer/ Brands’ advertising is the second biggest influencer, accounting for 25%, followed by Friends, at 22%.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.