With the all-important Christmas season almost upon us, brands and retailers will take some comfort from the latest RED C Consumer Mood Monitor which shows that consumers are ready to start spending again.
The latest research from RED C shows that improved spend is likely to affect all product categories but in particular products and services related to holidays and socialising.
It is also evident from the research that consumers feel that their personal finances have improved, with an upward trend in the proportion of consumers who feel that they are well off. Over a third of all adults (36%) now feel they are living comfortably, while 41% while not comfortable are not struggling financially. This means that less than 1 in 4 (23%) adults now feel that they are struggling to make ends meet – this is particularly the case for the family life stages.
According to the research, however, there is however a danger that uncertainty about the World Economy may limit the impact of consumers feeling more comfortable financially. This uncertainty is driven by concerns about the Chinese economy and the refugee/migration crisis in Europe. This has pulled Irish Consumer Mood slightly down compared to June 2015.
To download a copy of the research click HERE