An international study of shoppers suggests Irish consumers are becoming increasingly skittish as Brexit nears.
Despite Ireland's rapidly-expanding economy, the study by British trade publication Retail Week and law firm DWF found that a greater number of Irish consumers are losing confidence, rather than gaining it, over issues such as their personal finances, their ability to make purchases and their job security.
About 1,000 Irish shoppers were surveyed, out of 10,000 questioned across 10 countries, including the US, Australia, China and a smattering of European and developing economies.
Disposable income
Irish respondents put low prices at the the top of their list of priorities when making purchasing decisions, well ahead of considerations like product quality and store loyalty schemes.
About 52 per cent of Irish respondents said they use credit to make ends meet each month, double the proportion in Germany. Almost one in six claimed they had less than €280 disposable income each month, behind most developed economies.
“With consumer confidence decreasing, retailers will be looking to be more competitive on price and prioritise their value offering above all else,” said Eimear Collins, a partner with DWF Dublin.
