The Irish retail industry showed signs of recovery in the third quarter of the year, according to Retail Excellence's latest Retail Productivity Review with Grant Thornton.
“Stability has finally returned to the Irish retail industry after inconsistent sales patterns recorded by our member retailers earlier in 2017,” said Lorraine Higgins, deputy CEO of Retail Excellence.
The retail representative group highlighted an increase in sales of 1.94% during the quarter, with 14 out of 20 sectors experiencing a stronger trading period.
"Those sectors recording a negative sales pattern did so only marginally, which indicates Irish retail is finally starting to recover lost ground,” added Higgins.
Retail Resilience
Retail Excellence notes that furniture & flooring and large home appliances experienced a particularly robust quarter, with sales increases of 9.14% and 8.10%, respectively.
The agri retail and garden centre sectors also saw growth, which the group attributes to good weather conditions.
“Overall, the Irish retail industry has demonstrated its resilience in the face of external challenges like Brexit, sterling devaluation and the migration to online spend," said Higgins.
"With full employment within touching distance and measures implemented in Budget 2018, which will increase consumer spend, the key to improving sales and thus exchequer returns is to ensure improved supports for omni-channel retailers.”
© 2017 - Checkout Magazine by Sarah Harford.
