Retail Excellence Ireland (REI) has revealed that Quarter 3 of 2015 recorded the largest like for like increase in retail sales since before the recession.
David Fitzsimons, CEO of REI, commented, “Q3 2015 experienced the best quarterly performance since Q2 2007 as all major sectors rebounded.”
However, he also said that the Grocery sector continues to track behind the retail industry average as it sees intense competition and continued price deflation.
Fitzsimons warns that, “while volumes continue to increase, value is dragging behind with margins under extreme pressure”.
August was the weakest month in the quarter, as a recovering economy meant more Irish families were holidaying abroad.
The Home Renovation Scheme has helped the home-related sectors to continue to rise, while discretionary sectors like Fashion and Jewellery enjoyed a robust quarter too.
Considered a good barometer of footfall and consumer activity, the Hot Beverage category saw quarterly gains of 13.15%.
Fitzsimons concluded by noting that, “Whilst the domestic economy continues to improve dark clouds loom with the cost of doing business about to increase exponentially in January 2016.”
The data comes from REI’s recently issued Q3 Retail Productivity Review in partnership with research company GfK, which includes sales dates from over 4,000 stores in Ireland.
© 2015 - Checkout Magazine by Jenny Whelan.