Tuesday, 09 November 2010 15:25
The average European household Christmas budget is set around €uro590. The average Irish household 2010 Christmas budget is €1020, keeping Ireland as the second largest Christmas budget in Europe right after Luxembourg. On average, Irish consumers will spend a third of their presents budget on the internet. Online shops have become just like any other shops nowadays.
According to the annual Deloitte consumer survey of Christmas spending, just under 50 per cent of Irish shoppers will be purchsing online:
- The average Irish consumer will spend 10.6 per cent less Christmas 2010 vs. Christmas 2009
- Irish consumers will spend a third of their gift budgets online.
- Irish consumers will spend €650 on gifts, €250 on food, and €120 on socialising this Christmas 2010
- Irish consumers say they will spend 11 per cent less on gifts, 7.5 per cent less on food and 14 per cent less on socialising.
- Irish cosnumers overall Christmas spend will decrease by 30 per cent compared to 2008
The preferred location for irish consumers shopping is:
- Speciality chains - 24 per cent
- hypermarkets - 16 per cent
- traditional department stores - 14 per cent
- the internet - 11 per cent
The main reasons for shopping online are:
- lower prices than traditional stores - 79per cent
- the easy home delivery - 70per cent
- avoiding busy stores - 63per cent
Search engines - 68 per cent - and retailer websites are the main sources of information for Irish consumer.
Susan Birrell, Consumer Business Partner, Deloitte comments: "The way in which Irish consumers will finance their Christmas purchases has also changed - 46pc indicated that they will pay more by cash, while 31pc indicated that they are saving more. Forty-two per cent also indicated they are using loyalty points more, which should encourage retailers to expand and promote their loyalty programmes. The survey shows how important strategy is for retailers this year. The mainly price-driven strategy that consumers have adopted will lead them to seek out information on where they can find the best prices and special offers. It will also have an impact on the mix of products purchased – something retailers will have to take into account in their merchandising. Most of Irish consumers - 76 per cent - do not intend to buy second-hand products this year as Christmas presents. This trend runs contrary to other European countries."