Last minute shoppers boost retailers profits as sales get underway

Irish retailers are on course to meet pre-Christmas sales growth targets

CSO, retail sales, November, increase, motor sales, electrical goods, department stores

File photo of a woman carrying shopping bags | Image: Dominic Lipinski / PA Wire/Press Association Images

Irish retailers are on course to record their best Christmas season since 2007.

Retail Ireland say most businesses are on track to hit, and even surpass their pre-Christmas sales growth targets.

Last minute shoppers created a huge boost to sales this year especially in the last 5 days of trading.

Director of Retail Ireland, Thomas Burke, it's essential for stores to experience strong Christmas sales figures, "Some businesses will do about 30% of their total business in a 6 week period around the Christmas season, so a good Christmas performance is hugely important to an Irish retaiklbusiness

And when you consider what's happening generally within the Irish market - in terms of some of the macro economic indicators that are really very strong when you look at disposable income up about 5% in the first half of this year.

And it's really even a good Christmas for consumers and that's going to continue right into the New Year."

He also added, “Retailers have been greatly challenged in recent weeks by an increase in both cross border sales and online sales with foreign websites. In order to counteract this shift retailers have continued to drive prices downwards and improve both in store and online offerings."

Mr.Burke concluded by acknowledging that positive demographic trends are supporting growth in the sector. 

The population is estimated to have grown by 52,900 persons in the year to April 2017, marking the largest annual increase since 2008.