AN IRISH RETAIL group has predicted that the typical Irish household will spend an average of €2,690 in shops this December, a 3% rise on last year.

Retail Ireland - the Ibec group that represents the sector – predicts in its Retail Monitor 2018 that households will spend on average €866 more in December than any other month of the year. 

Retail Ireland said that there will be an increase in sales this year of over €150 million, with total sales over Christmas expected to €4.65 billion, up from €4.5 billion last year. 

“After what has been a tumultuous year of highs and low for Irish retailers, we have now reached a crucial juncture in terms of determining the end of year position for the sector,” said Retail Ireland director Thomas Burke.

Rising disposable incomes, record numbers at work, and falling prices have all combined to give consumers greater spending power than ever before and will raise consumer spirits and enable greater spending power over the busy Christmas period.

Burke said that although consumer sentiment had dropped in recent weeks, he hoped that in the next few weeks consumers will “embrace the festival of shopping that the Christmas season brings”.

There is no doubt the spending power is there, the challenge now for retailers is to best position themselves over this key trading period to convince consumers to part with that hard-earned cash in their stores and through their various other sales channels.