Irish retail sales grew by 1.1% in December 2024, compared to the previous month, and by 0.8% on the previous year, the Central Statistics Office (CSO) reported this week.
The data published by the CSO covers the four weeks from 3 to 30 November 2024 and from 1 December 2024 to 4 January 2025.
Excluding motor trades, the monthly retail sales volume went up by 0.3%, and the annual volume by 1.1%.
Non-specialised stores – which include supermarkets – saw a 0.6% monthly increase in December, while bars saw a 1.1% decrease.
While increased retail sales – including a 6.8% annual increase for specialised stores in food, beverages and tobacco – are good news for the economy, falling bar sales indicate continued anxiety over cost-of-living concerns.
Bar sales fell by 4.6% in the year, and by 1.1% between November and December 2024, despite the usually popular Christmas period.
However, as annual sales saw the biggest increase in Clothing, Footwear and Textiles (8.8%), Food, Beverages and Tobacco (Specialised Stores) (6.8%) and Department Stores (6.4%), the data indicates that customers are beginning to spend more following a period of high inflation and increased living costs.
The proportion of online retail sales from Irish-registered companies was 6.0% in both December and November 2024 – up from 5.4% in December 2023.
Comments
Commenting on the release, a statistician in the Enterprise Statistics Office division, Tommy Allen, said, “The volume of retail sales rose by 1.1% in December 2024, when compared with November 2024 on a seasonally adjusted basis.
“On an annual basis, retail volumes were 0.8% higher than in December 2023.
“When Motor Trades are excluded, the volume of retail sales rose by 0.3% in the month and increased by 1.1% in the year, when compared with December 2023.
“Sectors showing monthly volume increases were Motor Trades [+6.3%], Clothing, Footwear and Textiles [+2.9%], Pharmaceuticals, Medical and Cosmetic Articles [+2.1%], Hardware, Paints and Glass [+2.0%], Books, Newspapers and Stationery [+1.7%], and non-specialised stores, including supermarkets [+0.6%].
“The largest monthly volume decreases were recorded in Fuel [-3.0%], Other Retail Sales [-2.0%], Furniture and Lighting [-1.2%] and Bars [-1.1%].”
Read More: Irish Annual Inflation Rises To 1.4% In December – CSO
