That’s a lot of money.
Each year there is a lot of pressure on households to spend money for Christmas. Between the food, presents and household decorations the bills start to add up very quickly.
Retail Ireland has done the calculations and has worked out that households in Ireland are going to spend €2,587 on average this December.
It’s approximately €720 more than any other month of the year and roughly €26 more than Christmas 2015.
Retail Ireland has said that while a lot of money is being spent this year there will still be a lot of pressure on Irish retailers to compete with international brands and shops during the festive season.
A lot of people are also shopping online which cuts out spending on the highstreet or in local shops.
Retail Ireland Director Thomas Burke said:
“The next few weeks are by far the most important trading period of the year. While retail sales growth has softened in recent weeks, retailers remain optimistic. More people at work, a rise in disposable incomes and falling prices should lift the consumer mood and translate into increased sales.
Currency pressures and a drop in consumer sentiment have made recent months difficult for many retailers. But the retail sector’s challenge is the consumer’s opportunity. The coming weeks will see heavy pre-Christmas discounting, and a New Year sales bonanza.”
