Property

Retail outlook a mixed bag with improved activity but worries for future

Post-pandemic, Irish households have record savings on deposit, but rising prices and fears of a recession have meant that consumer sentiment remains cautious

Late Late Toy show star Finn Ryan at the recent opening of the Lego store at 41 Grafton Street. Picture: Naoise Culhane

The pandemic has significantly changed the Irish retail landscape over the past two years. Consumer shopping habits have shifted and are being impacted further by price inflation and interest rate rises in the euro area.

The retail sector is vital to the Irish economy. It employs more than 300,000 people nationwide. It generates sales of over €30 billion annually, accounting for around 12 per cent of Ireland’s GDP and it delivers €7 billion in tax ...