Retailers say their Christmas trade has picked up over the last week after a slow start earlier in the month. Most are predicting a modest growth in turnover this Christmas, but nothing like the double-digit growth seen in previous years.
While shoppers have never had so many pre-Christmas sales to choose from, insiders differ on the meaning that should be attached to this trend. Some see it as a sign of panic by shops to move stock that is not selling, while others say Ireland is moving towards the year-round sales trend, which is a feature of retailing in the US.
The Dublin City Business Association is predicting single-digit growth in sales over last year, but admits the number of shoppers in Dublin has been "erratic".
"If shops do something similar to last year or slightly better after inflation is taken into account, they'll be doing well," says the association's chief executive Tom Coffey.
Mr Coffey said the top and the bottom ends of the retail market were doing well, but the middle was being squeezed. Trends reflected a general slowdown in the economy and the departure of 70,000 immigrants who had been working in construction, he said.
There were 16 sales on yesterday on Dublin's busiest shopping area, Henry Street, but Mr Coffey said the reason for this was that Irish retailers were moving towards the US model of constant sales. "The shelf life of products has shortened dramatically and there is much more pressure to move stock."
The good news for retailers yesterday was that more than 60 per cent of adults plan to overspend this Christmas, according to research by Millward Brown IMS. This is in spite of the fact that four in 10 worry about their spending at this time of the year.
The Dublin Chamber of Commerce says that while the last three or four years saw very strong growth in turnover before Christmas, much lower growth is forecast for this year.
"This Christmas will probably match last year, thanks to an acceleration in the past week," says the chamber's policy director Aebhric McGibney. "Particular areas have been badly hit by the slowdown in the housing market, for example furniture, electronics and hardware."
Mr McGibney said the trend was the same in Dublin's city centre and outside the capital. Ladies' fashions were doing well, particularly for younger women, and new or refurbished shopping centres such as CHQ or the Ilac were attracting shoppers.
The main department stores were reticent. A spokeswoman for Arnotts said it was "really busy" and turnover was up on previous years. "People are spending money," she said, with no hint of irony.
Brown Thomas said sales in all areas across the store had been very strong all season and "in line with expectations". Clerys described business as "steady".
The Blanchardstown centre said that the number of shoppers was up 2.5 per cent on last year and retailers were generally happy. "It was a bit slow at first, but they're coming out in numbers now," said operations manager Pat Fitzgerald.
Mr Fitzgerald said many retailers were already holding sales: "It's a new trend. They have the stock and they need to move it. In certain cases, it may be an indication of slow sales."