Consumer confidence remains consistent in Ireland, with more than half (58%) of Irish consumers wanting to make purchases in-store and feeling safe (56%) in doing so, according to Deloitte Ireland’s State of the Consumer Tracker.
The results are based on a survey of 1,000 consumers across 18 countries respectively (1,000 Irish consumers). The most recent data was gathered between 9 and 13 June, immediately following Ireland entering the second phase of the lifting of restrictions put in place in response to the Covid-19 pandemic.
Consumer confidence – those who report feeling less anxious than last week – has remained consistent, with the majority of Irish consumers feeling less worried than last week. However, 46% remain worried about their physical well-being, consistent with the previous index, captured during the last week of May.
Whilst worry of job loss is still a significant concern at 31%, this has decreased from 36% two weeks previously. Nearly a quarter of consumers (22%) remain worried about making upcoming payments, compared with 24% previously.
The re-emergence of the ‘convenience consumer’ continues, with 45% now stating they are happy with spending more on convenience, consistent with the previous wave of research. However, consumers remain hesitant to make large purchases, with 41% still planning to delay big spending. This is consistent with the previous wave and aligned to the UK and global averages, both currently at 40%.
Fifty eight percent of Irish consumers now want to make purchases in-store, which continues to grow through each wave – compared with a global average of 51%, and only 41% in the UK. Confidence in visiting physical stores is up by 3% with 56% of consumers reporting that they now feel safe visiting a store. This puts Ireland as joint third in Europe for this measure, suggesting moderate encouragement for the high street.
Speaking about the results, CEO at Deloitte Ireland, Harry Goddard said, "The results of the latest State of the Consumer Tracker are encouraging as Irish society and the wider business community begin the difficult road to reopening. With consumer confidence remaining steady, there are some positive takeaways. There is evidence of the re-emergence of the ‘convenience consumer’ with 45% saying they are happy with spending more on convenience."
He added, "From a retail perspective more than half (58%) of consumers want to make purchases in store, comparing very favourably with the UK which reports 41%. 56% say they now feel safe visiting a store, putting Ireland as joint third in Europe with this measure."