Retailers are predicted to reap a bonanza this Christmas with Irish consumers expected to spend around €1,270 per household over the festive period.
The annual Deloitte Christmas shopping survey found that 30 per cent of Irish consumers intend to spend more than last year with the average household spending a massive €545 above the expected European average of €725.
Mr Cormac Hughes, Consumer Business Partner at Deloitte says the survey results indicate high consumer confidence with more than 75 per cent believing the Irish economy is experiencing growth and 85 per cent believe this growth will continue in 2005.
Continuing on the same trend, 57 per cent expect a growth in household income in 2005 and almost half of Irish employees feel their job will be very secure in 2005, the highest score in Europe.
"Planned spend at Christmas is driven by how confident people feel about the economy, their income, and job security", Mr Hughes said.
Income trends over the last year have boosted consumer's spending power with almost 40 per cent of consumers in Ireland, the strongest performance across Europe, claiming to have a higher disposable income than this time last year.
However, while Irish consumers are expected to outspend their European counterparts, 46 per cent will start shopping late this season, mainly in the hope of obtaining discounts.
The survey also found that the Internet is increasing in importance for consumers with 49 per cent planning to spend more money on the Internet this year compared to last year.
For children the gifts most requested are video games, Bratz dolls, Barbies and Bicycles. However, books have again remained outside the top five.
For adults, DVDs, CDs and videos are high on gift lists, followed by clothing and books - across the seven countries surveyed, gift certificates perform strongly this year.
