In a press release issued today, Retail Excellence Ireland has released its Irish Retail Industry Sales Review for the first quarter from January 1st to March 31st 2015. The data, which has been collected from member provided responses along with inputs from GfK Retail and Technology Ireland, shows an ongoing improvement in the consumer environment. However caution is required as spending eased as the quarter progressed. 

Deputy CEO, Sean Murphy said, "Q1 2015 proved a relatively positive quarter which started well with like for like gains of +4.37% in January, mainly a function of today’s consumer tendency to postpone spending into the sales period. A significant concern is the fact that the quarter weakened over the three months ending with gains of just +2.43% in March."

He continued, "While we have arrived at a point in the economic cycle where like for like gains are becoming the norm, caution is required on the part of Government as the potential for a return to negative growth cannot be ignored.

This is why the Retail Industry is and remains very concerned at the prospect of any cost increases. Retail in Ireland still has not come close to achieving activity levels seen in the Noughties, yet many of the higher costs in Upwards only Rents, High Local Authority Charges and the National Minimum Wage were ‘locked in’ at that time and have remained in place for the most part."

For more visit: www.businessworld.ie