Retail sales in Ireland experienced a 1.1% increase in December, driven by strong consumer spending on cars, clothing, and footwear. Despite inflationary pressures, the Central Statistics Office (CSO) reported that real wage growth is supporting domestic activity. The CSO highlighted significant growth in clothing, footwear, and textiles, food, beverages, and tobacco, department stores, hardware, paints, and glass, and pharmaceuticals, medical, and cosmetics. Conversely, fuel, bars, books, newspapers, and stationery, and electrical goods witnessed year-on-year declines.
Shoppers on Henry Street, Dublin. The volume of retail sales rose by 1.1 percent in December as consumers spent more on cars, clothing, and footwear. Figures from the Central Statistics Office (CSO) indicated sales volumes were up by 0.8 percent on a 12-month basis. While the retail environment has been hit by inflation, consumer spending , linked to real wage growth, is expected to drive domestic activity in the medium term.
The CSO figures indicated that the sectors showing the highest volume growth year on year were clothing, footwear, and textiles (+8.8 percent), food, beverages, and tobacco (+6.8 percent), department stores (+6.4 percent), hardware, paints, and glass (+3.8 percent), and pharmaceuticals, medical, and cosmetics (+3.5 percent). However there were annual declines recorded in fuel (-7.8 percent), bars (-4.6 percent), books, newspapers, and stationery (-0.3 percent), and electrical goods (-0.2 percent). The CSO said the proportion of retail sales transacted online was 6 percent in both December 2024 and November 2024, compared with 5.4 percent in December 2023. However these figures only cover Irish-registered retailers and exclude transactions on Amazon, the biggest online retailer. When motor trades are excluded, the volume of retail sales rose by 0.3 percent in the month and increased by 1.1 percent in the year when compared with December 2023, the CSO said. Commenting on the latest figures, Colette Devey, consulting partner and consumer sector lead at EY Ireland, said both sales volumes and value were up 1.1 percent on the back of a strong retail performance in November. “This trend reflects a more confident Irish consumer, benefitting from both greater economic certainty in the wake of the general election, as well as the cost of living supports provided by Budget 2025,” she said. “Sectors such as grocery, clothing, and beauty all performed above expectations, driven in part by festive season gifting and entertaining, as well as the timing of Black Friday this year where much of the retail trading uplift for this sales event will have been accounted for in December’s books,” she added
Retail Sales Consumer Spending Inflation Ireland Economy Central Statistics Office (CSO) Christmas Spending
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK retail sales unexpectedly drop in DecemberPound falls and gilts rally as investors bet on more interest rate cuts
Read more »
Supermarkets Kick off Easter sales in December, leaving Shoppers DividedShoppers are expressing mixed reactions to the early appearance of Easter eggs on supermarket shelves as December comes to an end. While some welcome the opportunity to spread the cost of Easter treats, others criticize the move as overly commercial and insensitive to the Christmas season.
Read more »
Sports Retail Chain Records Record €129 Million in 2023 SalesIntersport Elverys, Ireland's leading sports retailer, achieved a record €129 million in sales during 2023, driven by strong World Cup performance and continued growth strategies.
Read more »
Decline in motor trades leads to 1% annual drop in retail salesSector showing the highest annual volume growth in November was department stores, which was up 10%
Read more »
Live News: Ohk makes fourth purchase after Melior deal; Surprise slump in UK retail salesBite-sized servings of the latest in business, tech and current affairs
Read more »
Live News: Ohk Makes Fourth Purchase After Melior Deal; Surprise Slump in UK Retail SalesGet the latest business, tech, and current affairs updates from The Business Post. Today's headlines include Ohk Energy's fourth acquisition since Melior Equity Partners' investment, a surprise decline in UK retail sales, and Ireland's wind energy planning challenges.
Read more »