Barbers, booksellers, bakers and beer makers had a bumper Christmas according to the latest spending research published by Bank of Ireland.
Data drawn from the bank’s debit and credit card spending in December suggests that spending climbed 5 per cent last month when compared with November, as consumers embraced the Christmas spirit with a level of gusto that seemed to downplay the cost-of-living crisis.
Social spending during December increased by 10 per cent month-on-month, while spending in shops climbed by the same percentage.
The more significant spending bounce was recorded in other areas, however, as homes across Ireland stocked up on baked treats, with bakery spending climbing by 33 per cent.
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Beards were also big business in advance of the festive season, with barber shops experiencing a boost as men getting themselves groomed for the holiday season resulted in a rise of spending rise of 32 per cent.
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With many people ill in December, spending in pharmacies increased by 42 per cent, while those who couldn’t be tempted out to socialise decided to curl up reading at home, with spending in bookstores also up 29 per cent.
Pub spending rose significantly by 28 per cent last month, with daily World Cup matches and Christmas parties providing people with even more incentive to meet friends and colleagues.
Monthly restaurant spending went up by 9 per cent in December, while the outlay on fast food rose by 3 per cent.
A breakdown of counties ranked a rise in spending, with Cavan shoppers leading the way with a monthly 9 per cent spending hike. Spending in Longford appeared to be more depressed, climbing by just 1 per cent.
“For retailers it will have come as a welcome relief to see spending trend upwards once again in December, as restrictions which marked many aspects of Irish life at the tail end of 2021 [were] no longer in place,” said Jilly Clarkin of Bank of Ireland.
“In-person spend was recorded at 62 per cent in December, a rise of 4 per cent on the previous month, with shoppers comfortable to hit the high streets instead of shopping online. Increased footfall in cities and towns across Ireland underpins this data, a boost to indigenous retailers striving for more market share,” she said.
