Online shopping has fallen by 17%, compared to last year, research shows.
The latest AIB Retail Spend Outlook report has found that the decline in online spending reflects the return to some pre-pandemic shopping habits.
The report revealed that bricks-and-mortar store shopping showed a 5% increase year on year.
Stable Second Quarter
Overall sales in the second quarter of 2022 remained stable, recording a modest 1% decline year on year.
Speaking on the report, Alan Makim, AIB’s head of retail sector, said, “The second quarter this year did not see COVID-related restrictions, which had remained in place into early May last year. The data shows evidence of some behavioural changes, such as consumers returning to in-person shopping after an exclusively online environment for some parts of the sector in the first half of last year.
“While the data shows some positive elements, it also suggests an element of caution among consumers, given the current inflationary environment which will likely have an impact on the discretionary spending power and attitudes of consumers as we look forward to Q3.”
Summer Sales
Duncan Graham, managing director of Retail Excellence Ireland, said, “As the quarter came to an end, the summer sales started earlier and further discounts were added to clear stock.
"Further price increases are expected into the autumn as manufacturing, shipping, energy and labour costs all continue to increase. More government measures will be needed to assist businesses in managing through a difficult trading period.”
© 2022 Checkout – your source for the latest Irish retail news. For more Technology news, click here. Click subscribe to sign up for the Checkout print edition.
