Anxiety levels among Irish consumers lowest in year, Deloitte survey finds

Confidence about travel, personal services and retail and restaurant visits has grown

Grafton Street:  Consumer confidence continues to grow. Photograph: Dara Mac Dónaill

Grafton Street: Consumer confidence continues to grow. Photograph: Dara Mac Dónaill

 

Anxiety levels among Irish consumers are at their lowest in a year, according to Deloitte Ireland’s latest “state of the consumer” study.

For the third consecutive month, the survey recorded increases in consumer confidence in engaging in person-to-person services (up 9 per cent), visiting physical retail outlets (up 6 per cent) and going to a restaurant (up 6 per cent).

Concerns around job losses were 9 per cent lower, while consumers’ intent to spend on travel rose 19 per cent.

The monthly survey of 1,000 people tracks Irish consumers’ attitudes to personal wellbeing, financial concerns, travel and hospitality, transport and retail. The latest data is based on a survey conducted from April 22nd to April 28th, as the Covid-19 restrictions were poised to ease.

“It is very encouraging to see that consumer confidence continues to grow,” said Deloitte Ireland partner and head of consumer Daniel Murray.

“The fact that consumers’ financial concerns are starting to ease in line with health concerns is particularly welcome, as many whose incomes have been impacted anticipate a return to work in the near term.”

Wellbeing concern

While consumers’ level of concern around their own physical wellbeing rose by 1 per cent compared to the previous survey, their concern for the health of family members has decreased 6 per cent, perhaps reflecting the rollout of Covid-19 vaccines.

Financial worries also appeared to have eased, with consumers’ concerns around making upcoming payments down by 7 per cent and a 4 per cent decrease in the number who said they were delaying large purchases.

As far as travel was concerned, there was a 3 per cent rise in confidence in air travel and a 7 per cent rise in confidence in staying at a hotel.

There were also increases in the number planning to travel for leisure over the next three months, with those intending to stay at a hotel up 10 per cent and those planning to stay at private holiday accommodation up 8 per cent.