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16% of Irish shoppers plan to splurge and spend more this Christmas

Written by Robert McHugh, on 8th Oct 2020. Posted in General

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Sixteen percent of Irish consumers plan to spend more on their Christmas shopping than in previous years, according to research carried out by Kinetic Insight, the specialists in Out of Home (OOH) communications for brands and Spark Market Research.

The research examined the trends and changes in Irish shopping habits as a result of the Covid-19 with a specific focus on consumer habits in the lead up to Christmas and was carried out online in September 2020 with 250 respondents.

The results highlighted that there is strong spending power amongst Irish consumers, despite the economic uncertainty of the current environment. Thirty six percent of respondents said that they plan on spending the same this year as previous years, but notably, 16% plan on spending more. Of those planning to increase their spending, 45% cited a ‘difficult few months’ as the main reason.

The survey has identified a number of respondents who made significant savings since March. Thirty eight percent of respondents plan on spending these savings for the festive season. This trend is most prevalent amongst the younger age cohort, aged 16-24, as 51% of this demographic plan to use savings for their Christmas shopping this year.  

Interestingly, almost half of respondents also plan on starting their Christmas shopping early this year, which is consistent across all demographic groups. Twenty two percent started their shopping in September with the majority of respondents planning to start in October (49%), followed by 27% in November. A mere 2% of respondents plan on doing their Christmas shopping in December.

Sixteen percent of respondents plan on shopping mainly in store but e-commerce will also play a significant role in this year’s gifting season. Forty one percent plan on shopping using a mix of online and in-store which represents a 6% increase on last year. 

Fifty five percent stated that they will do most of their instore shopping in a shopping centre with a further 34% stating they will do their shopping in high street stores. This is significant for brands, as it highlights the continued importance of retail and on-street presence for targeting this year’s Christmas shoppers.

Speaking this week, Insights Director at Kinetic Insight, Caroline DeCourcy said, "Christmas shopping requires planning every year and this year is no different. But given that 2020 is the year of the pandemic, retailers and brands will need to be more strategic in planning how they can reach consumers. Consumer shopping habits have been altered in so many ways and brands need to be creative to reach their audiences in an efficient and effective ways."

Source: www.businessworld.ie

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