Christmas shopping ‘marginally’ down on Christmas 2012. December 26, 2013Posted by WorldbyStorm in Economy.
Mr Fitzsimons said the retail industry was bullish entering the festive season due to the rescheduling of Budget 14 to October, a return to economic growth and the departure of the troika.
“Unfortunately these positives did not impact on spending in the run up to Christmas 2013,” he continued.
“Instead customers remained cautious and retailers responded with significant discounts.”
Is this a surprise? They themselves one problem:
…the residential property tax also damaged consumer sentiment and dampened Christmas spending, along with the weather.
Or perhaps it’s unemployment, or low or stagnant wages…
They’re still holding out hope for the future though…
“It is likely that the sales period will be one of the best on record.
“Retailers have not sold through on significant lines of stock and this will be priced to sell over the period of the sales.”
And this seems a bit gratuitous:
Mr Fitzsimons said the Irish customer has never had it this good.
“Retailers are preparing to reduce prices by upwards of 70% in a bid to convert stock to cash,” he added.