According to The Marketing Institute
& UCD Michael Smurfit Graduate Business School this week (In their Consumer Market monitor report – Q2 2019), the Irish recession is well and truly over, as consumer
investment in holiday trips has increased by €6.5billion.
But did weather conditions in 2018 have
an impact? Storm Emma and the Beast from The East hit
Ireland in late February and early March, bringing the country to a standstill
under metres of snow as temperatures plummeted to -7C, in contrast the temp
rose to 32C in June across the West of Ireland – Are Irish consumers being
influenced by increasing weather extremes when it comes to the holiday
investment or is it just the simple fact that we have more disposable income.
Maybe they are investing in a holiday to
cheer themselves up rather than other more expensive investments such as moving
to a new house or buying a new car? The report suggests that ‘55,000 homes were sold in 2018 and sales
have been flat so far this year suggesting a similar outcome for 2019’ and that
the market for car sales is still following a negative trend as the ‘market for cars is the most troubled sector right now; sales for the
first half of this year are down by -12.9% for a total of 50,861’.
In contrast the
Irish Consumer Sentiment Index for April 2019 (Published in May
2019) suggested ‘an uncertain economic outlook and related worries about the
outlook for household incomes caused Irish consumer sentiment to weaken in
April’, suggesting an ‘nervous Irish consumer may be concerned that the best of
the recovery may be behind them. However, job gains and a growing population
mean that the Irish economy should still see a solid increase in consumer
spending in 2019’.
These reports are extremely useful for
marketers trying to tap into consumers disposable income but make sure to
balance it out with your own internal research specific to customer base you manage or are seeking to target
– Take a look at the The Marketing
Institute & UCD Michael Smurfit Graduate Business School Consumer Market monitor report – Q2 2019 via the
following link – Click
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