Business Irish

Wednesday 7 December 2016

Consumers are on a 'big ticket' spree

Published 16/11/2015 | 02:30

Sales of ‘big-ticket’ items, such as cars, homes, furnishings and electrical goods, soared in the last quarter, helping to drive the economic recovery
Sales of ‘big-ticket’ items, such as cars, homes, furnishings and electrical goods, soared in the last quarter, helping to drive the economic recovery

Sales of 'big-ticket' items, such as cars, homes, furnishings and electrical goods, soared in the last quarter, helping to drive the economic recovery.

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There was a 31pc increase in the number of new cars sold in the first nine months of this year, according to the latest quarterly Consumer Market Monitor (CMM) report.

The report, from The Marketing Institute of Ireland and UCD's Michael Smurfit Graduate Business School, also found that property sales have been "buoyant".

It noted that almost 22,000 homes were sold in the first half of the year, a 31pc rise on 2014.

Retail sales were also up in the past three months by 7.2pc, compared to the same period last year. Sales of household goods have been described as "particularly remarkable", with furniture and lighting sales up almost 19pc.

Spending is expected to grow further due to sustained growth in employment and stronger consumer confidence.

Irish Independent

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