Retail Excellence Ireland, Ireland’s largest industry trade body, said that it was disappointed with the drop in consumer sentiment in February 2013. The latest KBC Ireland/ESRI Consumer Sentiment Index stood at 59.4 in February, down from 64.2 recorded in January.
David Fitzsimons, CEO Retail Excellence Ireland said: “The latest consumer sentiment index shows that consumers are still very cautious about spending. There continues to be significant pressures on household finances and it doesn’t look like these pressures are going to ease any time soon. There has been a noticeable decrease in consumer activity reported by our member companies in 2013 to date, and we are deeply concerned about the future viability of some retail operators.”
According to Mr Fitzsimons: “Consumers are still paying off their Christmas bills which explains the drop in retail sales for January 2012. However, Minister Noonan’s announcement that Budget 2014 will take place in October is very welcome and hopefully will reduce the impact on pre and post-Christmas spends.”
