Irish to become 'biggest Christmas spenders'

Irish consumers are set to be the biggest spenders in Europe this Christmas, according to research published today.

84 per cent of Irish respondents expect to spend at least as much if not more than they did on Christmas last year

A survey carried out by financial consultants Deloitte claims Irish consumers are planning to increase spending on Christmas gifts by 8 per cent this year, while consumers in nine other European countries plan to tighten their belts.

Some 84 per cent of Irish respondents expect to spend at least as much if not more than they did last year; the main reasons for doing so included improved household income and more innovative and interesting presents to choose from.

Among the most popular toys this Christmas are the Microsoft Xbox 360, Sony PSP and Star Wars toys. The Batman and Power Rangers toys remain popular among boys, while the Bratz and Barbie are claiming the attention of young girls.

Irish consumers also topped the list of Europeans for decorating their houses, with 95 per cent planning to decorate their house this Christmas, where the European average is 88 per cent.

Of the 9 per cent of Irish people who plan to spend less this year, the high cost of living and saving money for things like a new house or additional holidays are the reasons for cutting back on Christmas spending.

Delloitte partner Cormac Hughes said: "The Irish economy continues to perform strongly, and as expected this feeds through to consumer confidence."

But while 8 per cent of Irish shoppers plan to increase their spending, reductions in spending are planned in Germany (down 9 per cent), Portugal (down 6 per cent), Italy (down 6 per cent) and The Netherlands (down 5 per cent) from last year.

The survey also notes increased use of the Internet, with 62 per cent of European consumers spending the same amount or more on the web this year compared to last year.