Irish consumer spending continued to increase at a sharp pace during September as household expenditure rose +5.4% year-on-year (YOY). This represents the thirteenth month of unbroken growth which has been recorded since the series began in September 2014.
Visa Europe’s latest Irish Consumer Spending Index has revealed that the clothing & footwear category was the standout performer this month, with a 13.9% spike in spending – the largest growth in the category since the Visa Europe Irish Consumer Spending Index was established. September also represents the 11th consecutive month of growth for the category.
The key factors behind the rise are consumers upgrading their wardrobe for autumn and winter, as well as back to school purchases.
eCommerce was also a key factor after posting a fourth successive double-digit expansion. The rise of 11.7% year-on-year in September was the strongest in three months, highlighting the increased interest of Irish consumers in online shopping.
This level of growth in eCommerce expenditure is expected to be maintained in the run-up to Christmas.
Double-digit rises in spending were also seen in the household goods and recreation & culture sectors. Transport & communication also signalled the sharpest annual expansion in the series history (7.1%). The only sector not to record an increase in expenditure in September was hotels, restaurants & bars which saw spending remain broadly unchanged from a year earlier .
The rate of expansion in eCommerce spending was again much stronger than that seen with regards to face-to-face expenditure.
eCommerce spending rose +11.7% year-on-year, the fourth consecutive month of double-digit growth and the fastest increase since June. Expenditure in eCommerce categories has risen more quickly than spending on the high street throughout the 13-month series history so far.
Face-to-face spending rose +2.4% over the year to September, continuing the sequence of growth that has been registered throughout the series so far. That said, the rate of expansion slowed for the second month running.
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