Almost a third of shoppers feel less financially secure now
Almost a third of Irish shoppers feel less financially secure now compared to the start of the year, according to new research from KPMG.
The latest KPMG Next Gen Retail Survey also found that over half say getting the best price is the main priority for them when deciding where to shop.
The survey was conducted by Red C between 3 - 9 April 2025, after US tariff announcements on 2 April.
The research highlights significant financial pressure that Irish consumers are under, and a risk of further consumer price pressure as the impact of tariffs take effect.
"Financial uncertainty could be compounded by increased trade headwinds depending on the form of the threatened tariff changes," said Head of Consumer, Retail & Manufacturing at KPMG David O'Kelly.
"This dynamic creates a clear challenge to Ireland's retailers to optimise their supply chains and cost structures to maintain competitiveness. The retail sector has adapted to significant change in the past and no doubt will use the tools available to pivot again."
Over half (54%) of those surveyed said they are buying less items to save money and modify their household budgets, an increase from 50% in October 2024.
Mr O'Kelly said the younger cohort (18-24 year olds) were very price focused when it came to seeking out the best price or value for money.
"Price is the number one thing going for young people going shopping," said Mr O'Kelly.
"Then my own cohort, middle-aged with family as you can imagine with inflation and food inflation, that's a cohort that has seen the weekly bill go up quite a bit, they shop around for deals too.
"What's interesting though if you look into that, they tend to look for more recurring value with store cards or loyalty cards as opposed to the younger cohort who tend to be less brand loyal, they just buy whatever's cheapest."
Consumer behaviour shows little change, with physical stores continuing to be the preferred channel for essential categories. A significant 85% of Irish adults still purchase groceries primarily in-store.
Nearly 3 in 5 (59%) think the experience of shopping in-person will never be matched by online shopping.
Despite this, online shopping continues to grow, with 50% of respondents considering it generally cheaper than in-store options, compared to 51% last year.
The online shopping landscape is also being shaped by new entrants. Notably, 1 in 5 report they will shop online more often due to the launch of Amazon.ie in March, a figure that rises to 42% among 18-24-year-olds.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Journal
an hour ago
- The Journal
EU may end up cutting services and asking Ireland for more cash to settle a €30bn Covid bill
Muiris O'Cearbhaill CUTS TO GRANT schemes and increases in the amount of money given to the EU each year by Ireland may be considered in order to pay back an annual €30bn bill which was racked up following Europe's Covid response plan. €732bn was made available to member states during the Covid-19 pandemic, aimed at protecting the European economy. The annual cost to repay that debt for the EU could reach up to €30bn every year from 2028. The figure is a fifth of the EU's current five-year budgetary plan. A new spending plan is currently being developed and will give politicians a clear picture on how member states can afford to pay the bill back. Fianna Fáil MEP Billy Kelleher, who is a member of the European Parliament's taxation committee, believes services like grant schemes may be cut and contributions from member states may be increased to raise the funds needed to repay Europe's debts. The budget plan – what's called the multiannual financial framework – is due to be announced on 16 July. Currently, the EU spends €160bn every year on schemes such as grant programmes for local authorities and infrastructure investments. The budget could be cut back in order to make more funds available to repay the debts. This could come at the cost of local community groups, who may rely on funding from European programmes to keep service hubs open or pay operating costs for community centres. Another option for the EU is to instead increase the amount that its members pay in each year. In 2023, Ireland paid €3.69bn in EU contribution fees for the annual budget . Ireland currently pays more money into the EU's budget than it receives each year . Kelleher told The Journal : 'We're going to either have to increase the budget through contributions [from member states] or find additional resources.' He added the issue will be a 'key debate' in the coming years. Advertisement It could involve tense discussions if member states, like Ireland, must foot the annual bill in order to keep services for groups that rely on the EU's funding schemes active. Asked how the debate might be settled, the Ireland South MEP said he believes the EU may 'fall a little bit between the two'. He added that there might be 'just a small' increase in contributions from member states, including Ireland. Potential increases come at a time when Ireland is experiencing significant uncertainty around the economy, with the looming threat of tariffs by US President Trump. There is a significant level of unpredictability felt in Brussels over the pending deadline. Taoiseach Micheál Martin has said that potential tariffs by the US on the Irish economy could impact the domestic budget . Analysis from the Central Bank suggests US tariffs could lead to slower economic growth and a fall in the creation of new jobs . Corporation tax receipts – a massive earner for the state - fell in May and companies in Ireland with business in the US, such as Guinness maker Diageo, are projecting the tariffs to cost them millions of euro this year . Kelleher said: 'A lot of member states who are making contributions are, financially, in very stringent times. If you look at France and Germany, for example. I mean, their two economies are really struggling.' Asked if it would be difficult to justify an increase in Irish contributions in the scenario that US tariffs have a major impact on the economy, the MEP told The Journal that the amount of contributions is based on economic growth. Current forecasts suggest, even if US tariffs have an impact on Ireland, the economy will continue to grow. Speaking in Brussels this week, justice commissioner Michael McGrath said there are no forecasts predicting any major impacts to the European economy. RRF repayments will begin in 2028 and continue into the long-term. A minimum of 37% of the funds were allocated to climate-related investments, while 20% were dedicated to the digital transition plan for member states. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
The Irish Sun
3 hours ago
- The Irish Sun
Taxpayer foots €43k monthly rent for London gaff of Irish Ambassador as colossal €3.95m diplomat house bill laid bare
THE London gaff of the Irish Ambassador to the UK is a Brit pricey to rent — at €43,500 a month. It's one of a string of high-cost They paid estate agency Knight Frank €522,394 in 2024 to cover just a single year's lease on the The colossal bill was part of at least €3.95million paid out last year in Other sky-high lease costs included payments of €485,000 for Ireland's official residence in We also fork out €291,000 for an apartment in New York, and €204,000 for a pad in READ MORE IN IRISH NEWS The rental bill in Tel Aviv, The Department also ran up 15 separate This included a spend of €30,480 at the five-star Intercontinental Hotel in There was another bill of €9,300 from the same hotel for a visit by the MOST READ ON THE IRISH SUN And €5,241 was spent on accommodation at the Seven Alpina Hotel as part of Ireland's participation in the annual World Economic Forum in Davos, The Department said an €8,408 bill at the four-star Fifty Sonesta Hotel in CAR COSTS Among the other bills last year were €24,054 paid to the Around €64,000 was spent on chauffeured And €3.7million went on major maintenance of our residences overseas. Asked about the high rental bill for the Irish Ambassador's On hotel and other VIP "These visits advance Ireland's values and interests, unlock opportunities, strengthen bilateral and multi-lateral relationships and position Ireland as a proactive and influential global partner.' 1 The London gaff costs €43,500 a month Credit: Getty Images - Getty
Irish Daily Mirror
4 hours ago
- Irish Daily Mirror
Irish powerhouse trainers Mullins and Elliott spend big at Derby Sale
Irish powerhouse trainers Willie Mullins and Gordon Elliott spent close to €2 million between them at a two-day sale this week. While the focus switches to flat racing during the summer, it is time for restocking for jumps trainers as they try to unearth the next big equine talent. And Mullins and Elliott both dived deep into the pockets at the Tattersalls Derby Sale, where many beautifully bred store horses were on offer. Mullins bought nine unraced horses for a total of €1,230,000, including a €180,000 purchase of a Nathaniel gelding from Castledillon Agent. The Carlow trainer's long-time bloodstock agent Harold Kirk said of the purchase: 'It has been hard to get a Nathaniel out of a jumping pedigree, and this horse is out of a Poliglote mare, which I love, and it is a very good jumping family – Don Lino lower down the pedigree was a top horse in France.' He added: 'A lot of the Nathaniels who have gone jumping are out of Flat mares so you're hoping that, when they have jumping pedigrees, they will be even better. 'All the horses I am buying here will be purchased with the €100,000 Tattersalls Ireland MSL Mercedes-Benz Sales Bumper in mind – moving the race to a December date works well for us and it gives us options.' Gordon Elliott, meanwhile, bought three horses for a total of €510,000. The Meath handler's biggest buy was a €235,000 Blue Bresil gelding, who is on the same cross as the sire's superstar son Constitution Hill. Elliott, who was alongside Eddie O'Leary in the sales ring, said: "He is a lovely athletic horse, one we have been waiting for all week. "We will get him home now and broken in. His half-brother, Handstands, is a very talented horse." €17,576,000 changed hands at the Derby Sale. Four horses were sold for over €200,000 with a Walk In The Park gelding out of Posh Trish (Lot 338) topping the sale at €285,000.
