Retail Ireland, a group that represents the Irish retail sector, has expressed its 'growing unease at softening consumer demand and retail sales' in the run up to Christmas, adding that consumer sentiment has dipped amid fears over what the Brexit will mean for the Irish economy.
The representative group called on the Irish government to 'prioritise support for the sector over the coming months and ensure recent currency shifts are not allowed to erode the jobs intensive retail recovery'.
It said that it was imperative that a greater focus was placed on Ireland's cost competitiveness, as well as ensure utility and labour costs were kept in check.
"While sales values grew by 1.1% in the third quarter of the year when compared with the same period last year, the steady decline in growth rates quarter on quarter is a cause for concern," said Retail Ireland Director Thomas Burke.
"The 23% slump in the value of sterling since the beginning of the year has prompted more consumers to travel North to shop, with new figures also showing a surge in online shopping in the months following the UK vote."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
