Despite an ongoing recession Galway consumers are set to head European Christmas household spending this year. The average household spend in a Galway house this Christmas will be €1,354, of which €688 will be spent on gifts, €422 on food, and €264 on socialising, according to an annual survey by accounting firm Deloitte.
However in a sign of increased sensitivity to value among shoppers, more than 60 per cent of Irish shoppers said they would buy gifts or products that are on promotion.
This is in keeping with the experiences of many Galway retailers. Consumers are putting a greater emphasis on value for money this year according to the owner of Galway’s newest cosmetic department, Dr Audrey Kinahan of University Late Night Pharmacy. “We are seeing very strong demand for our newer brands like Lancome, Clarins, Biotherm, and Chanel but customers are definitely more conscious of getting better value for their spend,” he said.
According to Deloitte, retailers will need to develop innovative and creative propositions that match consumers’ needs. The University Late Night Pharmacy, for example, is offering shoppers a free Lancome gift bag packed with travel size products when they buy from the Lancome range.
The new Clarins counter at the pharmacy goes a step further by offering not only a free gift bag but also throwing in a choice of free beauty treatments like mini-facials, false lash application or Indian head massage.
The Deloitte survey also reported an increase in the percentage of consumers who will plan a budget for their Christmas shopping this year.
