Irish consumers now most anxious in Europe, report finds

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Irish Consumers Now Most Anxious In Europe, Report Finds Irish Consumers Now Most Anxious In Europe, Report Finds
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James Cox
Irish consumers are now the most anxious in Europe, according to Deloitte Ireland’s State of the Consumer Tracker.

The survey, which is conducted every two weeks, tracks Irish consumers’ attitudes towards personal wellbeing, financial concerns, travel and hospitality, transport and retail.

The report found that 50 per cent of Irish consumers are worried about their physical wellbeing while concern for their families' health has risen by two per cent, to 62 per cent.

Confidence levels in Ireland have dropped by six per cent from the previous wave of research, falling behind France, Belgium and Spain since late July, making Irish consumers now the most anxious in Europe.

The results are based on a survey of 1,000 consumers across 18 countries respectively (1,000 Irish consumers). The most recent data was gathered between August 18th and 22nd, immediately following the implementation of localised travel restrictions in counties Kildare, Laois and Offaly.

Confidence and spending intent

Confidence in visiting physical stores is at 59 per cent, down three per cent on previous research (conducted two weeks earlier at the beginning of August).

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There was an increase of four per cent in people who said they preferred to shop in businesses that had responded well to the Covid-19 pandemic (46 per cent), while 44 per cent preferred to shop for convenience (down two per cent).

The number of consumers who felt safe in going to a restaurant dropped slightly from the previous research, 40 per cent (a four per cent drop).

Nearly a quarter (24 per cent) are worried about making upcoming payments, up four per cent on the last report. Meanwhile, 41 per cent reported that they were delaying making large purchases, which is also an increase of four per cent. Those worrying about job loss is at 31 per cent, down from 32 per cent.

Travel and Hospitality

Confidence in air travel is up slightly, despite travel restrictions, with 22 per cent of respondents saying they would feel safe travelling on a plane.

Confidence in hotel accommodation has remained consistent at 40 per cent.

However, there has been an overall reduction in those planning to travel for leisure in the next three months. Less people overall are searching for travel deals at 16 per cent - down two per cent. 23 per cent are hoping to avail of private holiday accommodation (down three per cent); 35 per cent intend to stay in a hotel (down four per cent); and 14 per cent intend to take an international flight (down two per cent). There was an increase of one per cent in those hoping to take a domestic flight, at 10 per cent.

Transport

Irish consumers are likely to remain reliant upon their personal vehicles, as 68 per cent say they are planning to limit their use of public transport over the next three months (up five per cent). 58 per cent say they are now planning to keep their current vehicle longer than originally expected, an increase of two per cent.

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