Property Tax and weather blamed for disappointing Christmas retail sales

Christmas trading this year will be marginally down compared to Christmas 2012, according to Retail Excellence Ireland.

Property Tax and weather blamed for disappointing Christmas retail sales

Christmas trading this year will be marginally down compared to Christmas 2012, according to Retail Excellence Ireland.

"Having contacted over 300 leading retailers nationwide over the past few days it is disappointing to confirm that retail sales are likely to be down marginally against Christmas 2012," said David Fitzsimons, chief executive, Retail Excellence Ireland.

"While consumers might have a little more discretionary income than this time last year, even with cash in our wallets we have become habitually frugal and discerning.

"It would seem that six years of cautious spending behaviour has become a hard habit to break.

"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 exit of the Troika.

"Unfortunately these positives did not impact on spending in the run up to Christmas 2013.

"Instead customers remained cautious and retailers responded with significant discounts. Many retailers have suggested that the announcement by the Revenue of the 2014 residential property tax last November significantly damaged consumer sentiment and dampened Christmas spending.

"The adverse weather over the two final weekends before Christmas Day also impacted negatively on footfall and dwell time, especially in the high streets. What this means is that retailers are carrying significant stock levels into the Sales period which can only mean one thing – exceptional value for the Irish consumer."

more courts articles

Gary Glitter victim seeking six-figure sum in damages, court told Gary Glitter victim seeking six-figure sum in damages, court told
Man (25) in court charged with murdering his father and attempted murder of mother Man (25) in court charged with murdering his father and attempted murder of mother
Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van

More in this section

FILE PHOTO The Competition and Consumer Protection Commission has cleared the purchase of Goodbody Stockbrokers by AIB END Goodbody Stockbrokers fined over €1.2m by Central Bank over rules breaches
Nottingham City Centre Stock Irish staff at the Body Shop wait for wages as retailer shuts stores in the Republic
Ryanair comments on Norwegian Ryanair boss O'Leary's spat with Transport Minister over Dublin Airport escalates
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
ie logo
Puzzles Logo

Play digital puzzles like crosswords, sudoku and a variety of word games including the popular Word Wheel

Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited