Table of Contents
Issues in Market
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- Key themes in the report
- Consumer data
- Definition
- Abbreviations
Insights and Opportunities
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- Banks can leverage confidence in other sectors
- Targeting younger consumers for domestic holidays
- Price pressure on grocery retailers
- Highlighting providence in the alcohol beverages
- Calorie counting in food service
Market in Brief
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- Irish consumers sticking to a budget
- Sector dynamics in the current climate
- Consumers focused on finances and holidays for 2011
- Health and rising bills worrying Irish consumers
- Irish showing confidence in themselves
Fast Forward Trends
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- Trend 1: Retired for Hire
- What’s it about?
- What we’ve seen
- What next?
- Trend 2: Why Buy
- What’s it about?
- What we’ve seen
- What next?
Economic Outlook for RoI and NI
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- Key points
- RoI and NI economies stabilise
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- Figure 1: Economic outlook, RoI and NI, 2008-10
- RoI
- NI
- Unemployment stabilising
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- Figure 2: Unemployment rates, RoI and NI, January 2009-March 2011
- Consumers worry about increasing prices
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- Figure 3: Consumer Price Index annual % change, RoI and UK, 2000-10
- NI
- Increase in price of raw materials will make food bills more expensive
- Less disposable income
- Confidence beginning to rise
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- Figure 4: Consumer Sentiment/Confidence Index, May 2008-11
- House prices continuing to fall…
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- Figure 5: Index of house prices, RoI and NI, Q1 2005-Q4 2010
- … while debt continues to rise
Social Trends in RoI and NI
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- Key points
- Aging population
- RoI
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- Figure 6: Population, by age, RoI, 2006-41
- NI
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- Figure 7: Population, by age, NI, 2008-58
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- Figure 8: Number of births per year, RoI and NI, 1989-2009
- Emigration rising for RoI
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- Figure 9: Net migration, RoI and NI, 2000-10
- RoI students at risk
- Little net effect for NI population
- Recession’s cost to society: Suicides and depression increase
- Recession’s cost to society: Crime on the rise
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- Figure 10: Number of recorded robberies, extortion and hijacking offences, RoI, 2004-10
How are Consumers Coping in the Current Climate?
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- Key points
- Consumers focus on sticking to a budget
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- Figure 11: Agreement with selected statements about personal situation and finances, NI and RoI, 2011
- Housewives take responsibility for household budget
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- Figure 12: Agreement with “I spend more time looking for special offers and lower prices than I used to”, by employment status, NI and RoI, 2011
- Mature consumers do less penny pinching
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- Figure 13: Type of pensions that consumers receive or will receive, NI and RoI, 2010
- Driving them to the discounters
- Unemployed struggling to make ends meet
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- Figure 14: Agreement with “I have no money left after paying my bills”, by working status, NI and RoI, 2011
- Housewives and women struggling to pay bills
- Lesson learnt?
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- Figure 15: Agreement with “I am more careful about how I use my credit card”, by age, NI and RoI, 2011
- Men are less stressed
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- Figure 16: Agreement with “I like to enjoy life and don’t worry about the future”, by gender, NI and RoI, 2011
Sector Focus: Grocery Retailing
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- Key points
- Tesco the most prominent supermarket retailer in NI and RoI
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- Figure 17: Retailers shopped in by consumers on a regular basis (once a month or more), NI and RoI, May 2010
- Own-label products see greater usage in recession
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- Figure 18: Types of own-label products bought, NI and RoI, May 2010
- Recession boosting brand power of discounters
Sector Focus: Alcohol
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- Key points
- Alcohol consumption rates drop between 2009 and 2010
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- Figure 19: Alcohol consumption in the last 12 months, NI and RoI, 2005-10
- Who drink and how often?
- In-home consumption increases in face of recession and higher prices
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- Figure 20: Indexed value of all Ireland alcohol market, on-trade vs. off-trade, 2004-14
- Wine and beer the preferred types of alcohol
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- Figure 21: Types of alcohol consumers enjoy drinking, NI and RoI, April 2010
Sector Focus: Foodservice
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- Key points
- Foodservice market value takes a hit as consumers eat out less often
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- Figure 22: Leisure- and entertainment-related areas where consumers have cut back on spending in the last 12 months, NI and RoI, July 2010
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- Figure 23: Estimated foodservice value of purchases (VOP) according to sector, all-Ireland, 2010
- NI consumers prefer fast food while RoI consumers prefer restaurants
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- Figure 24: Types of foodservice outlet used in the last 12 months, NI and RoI, 2010
- Alternatives to dining outside the home
Sector Focus: Tourism and Leisure
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- Key points
- Tourism revenue still in decline
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- Figure 25: Visitor numbers and revenue overseas visitors, RoI and NI, 2006-10
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- Figure 26: Visitor numbers and revenue for domestic visitors, RoI and NI, 2006-10
- How often do we holiday?
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- Figure 27: Holiday taken in the last 12 months, RoI and NI, 2006-10
- Multiple holidays at home
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- Figure 28: Total number of holidays taken in the last 12 months, in the UK and Ireland vs. abroad, RoI and NI, 2010
- Irish travel aspirations
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- Figure 29: Agreement with selected statements about travel, RoI and NI, 2010
Sector Focus: Financial Services
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- Key points
- Consumers find it hard to get credit
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- Figure 30: Number of credit cards in issue and value of credit card transactions (Indexed), IoI, 2005-15
- But more consumers have credit cards
- Mortgage market is moribund
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- Figure 31: Number and value of mortgage loans approved (indexed), IoI, 2005-15
- Consumers with mortgages stagnate between 2008 and 2010
- Desire to save increases, but savings dwindle
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- Figure 32: Agreement with the statement “If there’s something I want I save up for it”, NI and RoI, 2007-10
How Will Consumers Spend Their Money?
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- Key points
- Finances top RoI agenda, while NI focus on escapism
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- Figure 33: Top five spending priorities over the next 12 months, RoI and NI, 2011
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- Figure 34: Spending priorities over the next 12 months, RoI and NI, 2011
- Getting our finances in order
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- Figure 35: Consumers’ financial plans over the next 12 months, RoI, 2011
- Debts less of an issue among NI consumers
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- Figure 36: Consumers’ financial plans over the next 12 months, NI, 2011
- Getting away from it all – home or away?
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- Figure 37: Consumers taking foreign holidays over the next 12 months, by age, RoI and NI, 2011
- Spending abroad declines
- Domestic market gains in recession
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- Figure 38: Consumers taking domestic holidays/short breaks over the next 12 months, by age, RoI and NI, 2011
- Focusing on the home
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- Figure 39: Consumers planning to redecorate over the next 12 months, by age, RoI and NI, 2011
- Fewer planning to move
- Cars are not a high spending priority
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- Figure 40: Consumers planning to buy a new or used car in the next 12 months, by age, RoI and NI, 2011
- Low spending intentions for electronic devices
What is Concerning Us?
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- Key points
- Consumers focused on health and rising costs
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- Figure 41: Top five issues consumers are concerned about, RoI and NI, 2011
- Figure 42: Issues concerning consumers, RoI and NI, 2011
- Rising costs at the forefront of consumers’ minds
- Middle-aged consumers show most concern with utility costs
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- Figure 43: Consumers agreeing “that rising utility bills” most concern them, RoI and NI, 2011
- Rising food costs also a key concern
- Who do grocery prices affect the most?
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- Figure 44: Consumers agreeing that “rising grocery bills” most concerns them, RoI and NI, 2011
- Own-brand goods stand to benefit from consumer concerns over grocery prices
- Older consumers continue to worry about health
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- Figure 45: Consumers agreeing “health” most concerns them, RoI and NI, 2011
- Cost of healthcare an issue for RoI consumers
- NI consumers worry about their weight
- Unemployed worry about keeping up with expenses
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- Figure 46: Consumers agreeing that “Not being able to pay day-to-day bills” most concerns them, RoI and NI, 2011
- Watching the pennies
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- Figure 47: Consumer agreement with the statement “Always having to watch every penny” most concerns them, NI and RoI, 2011
- Fears for job security
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- Figure 48: Consumer agreeing that “Job Security” most concerns them, RoI and NI, 2011
- RoI consumers aged 16-24 concerned about future job prospects in Ireland
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- Figure 49: Consumers agreeing that “having to emigrate to find work/go to college” most concerns them, by age, RoI and NI, 2011
- Third level fees affecting students and parents alike
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- Figure 50: Consumers agreeing that “rising college fees” most concerns them, by age, RoI and NI, 2011
Where Are We Placing Our Confidence?
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- Key points
- Self confidence among the Irish population
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- Figure 51: Consumers agreeing with selected statements about trust, RoI and NI, 2011
- Is Feidir Linn! (Yes we can!)
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- Figure 52: Consumers agreeing with “I have confidence in myself to get through the economic downturn”, by age, RoI and NI, 2011
- Looking to alternatives for financial services
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- Figure 53: Consumers agreeing with statements about financial services trust, by age, RoI, 2011
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- Figure 54: Consumers agreeing with statements about financial services trust”, by age, NI, 2011
- Positive sentiment for the RoI government
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- Figure 55: Consumers agreeing with “I am confident that the new government will help economic recovery”, by age, RoI, 2011
- EU inspires more confidence among RoI consumers
- Over-65s confident in the health system
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- Figure 56: Consumers agreeing with “I trust the healthcare system can provide for me and my family adequately”, by age, RoI and NI, 2011
- Lower opinions of Irish business capability in NI
- Older consumers place their faith in charities
- Students put trust in their educators
- Full-time workers more confident in their employers
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- Figure 57: Consumers agreeing with “I am confident my employer will do everything to possible to keep me in employment”, by work status, RoI and NI, 2011
- Fraud still a barrier to trusting online companies
Consumer Target Groups
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- NI target groups
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- Figure 58: NI consumer typologies, 2010
- Grocery Concerned
- Inactives
- Job Worried
- Trusting
- RoI target groups
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- Figure 59: RoI consumer typologies, 2010
- Optimists
- Unengaged
- Pricers
- Cash-strapped
Appendix
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- Figure 60: Pound to euro exchange rate used (annual average), 2004-13
- NI lifestyle tables
- Agreement with statements relating to personal situation and finance
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- Figure 61: Agreement with statements regarding personal situation and finances, by all demographics, NI, June 2011
- Figure 62: Agreement with statements regarding personal situation and finances, by all demographics, NI, June 2011
- Agreement with statements relating to spending priorities for the next 12 months
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- Figure 63: What consumers intend to spend money on in the next 12 months, by all demographics, NI, June 2011
- Figure 64: What consumers intend to spend money on in the next 12 months, by all demographics, NI, June 2011
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- Figure 65: What consumers intend to spend money on in the next 12 months, by all demographics, NI, June 2011
- Agreement with statements relating to trust and confidence
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- Figure 66: Agreement with statements relating to trust and confidence in institutions, by all demographics, NI, June 2011
- Figure 67: Agreement with statements relating to trust and confidence in institutions, by all demographics, NI, June 2011
- Issues that concern consumers
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- Figure 68: Issues consumers are concerned about, by all demographics, NI, June 2011
- Figure 69: Issues consumers are concerned about, by all demographics, NI, June 2011
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- Figure 70: Issues consumers are concerned about, by all demographics, NI, June 2011
- Consumer typology tables
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- Figure 71: Consumer typology, by demographics, NI, June 2011
- Figure 72: Agreement with statements regarding personal situation and finances, by consumer typology, NI, June 2011
- Figure 73: What consumers intend to spend money on in the next 12 months, by consumer typology, NI, June 2011
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- Figure 74: Agreement with statements relating to trust and confidence in institutions, by consumer typology, NI, June 2011
- Figure 75: Issues consumers are concerned about, by consumer typology, NI, June 2011
- RoI lifestyle tables
- Agreement with statements relating to personal situation and finance
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- Figure 76: Agreement with statements regarding personal situation and finances, by all demographics, RoI, June 2011
- Figure 77: Agreement with statements regarding personal situation and finances, by all demographics, RoI, June 2011
- Agreement with statements relating to spending priorities for the next 12 months
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- Figure 78: What consumers intend to spend money on in the next 12 months, by all demographics, RoI, June 2011
- Figure 79: What consumers intend to spend money on in the next 12 months, by all demographics, RoI, June 2011
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- Figure 80: What consumers intend to spend money on in the next 12 months, by all demographics, RoI, June 2011
- Agreement with statements relating to trust and confidence
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- Figure 81: Agreement with statements relating to trust and confidence in institutions, by all demographics, RoI, June 2011
- Figure 82: Agreement with statements relating to trust and confidence in institutions, by all demographics, RoI, June 2011
- Issues that concern consumers
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- Figure 83: Issues consumers are concerned about, by all demographics, RoI, June 2011
- Figure 84: Issues consumers are concerned about, by all demographics, RoI, June 2011
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- Figure 85: Issues consumers are concerned about, by all demographics, RoI, June 2011
- Consumer typology tables
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- Figure 86: Consumer typology, by demographics, RoI, June 2011
- Figure 87: Agreement with statements regarding personal situation and finances, by consumer typology, RoI, June 2011
- Figure 88: What consumers intend to spend money on in the next 12 months, by consumer typology, RoI, June 2011
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- Figure 89: Agreement with statements relating to trust and confidence in institutions, by consumer typology, RoI, June 2011
- Figure 90: Issues consumers are concerned about, by consumer typology, RoI, June 2011
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