Retail body credits the 'McGregor effect' for increased Menswear sales
Retail Excellence Ireland (REI) has said that the ‘McGregor effect’ helped boost sales of Menswear in the final quarter of 2015.
According to the Grant Thornton REI Q4 Retail Productivity Review, the Irish retail sector enjoyed a robust trading period, despite inclement weather seeing early momentum dissipate in some sectors.
All sectors recorded quarterly gains with one exception - digital cameras.
“Grocery was the star performer in December recording like for like gains of 2.85%, the largest monthly increase in the Grocery sector since May 2012,” said Lynn Drumgoole, head of communication at REI.
“The fashion and footwear sectors all enjoyed a reasonable start to the quarter with Menswear in particular having a great run as the ‘McGregor effect’ continues to influence the buying behaviour of millennial males.
“The uplift in the residential housing market continues to have a positive impact on furniture & flooring, up over 10%, and to a lesser extent on home & giftware sectors.
“It is clear that the Black Friday phenomenon is having a significant impact across many sectors and especially in consumer electronics where there was strong growth across the quarter mainly due to kids growing older younger and the increase in requests for tech instead of conventional toys.
“However Black Friday led to a quieter October as consumers postpone spending, and a weaker post Christmas sales period.
“And while the day of the digital camera seems to be over, with the increased use of our smart phones, specialist camera sales are growing.
“Overall it proved a reasonable quarter, but that said growth rates are slowing marginally, which it is hoped is as a result of the inclement weather rather than other macro economic factors.”