Consumer confidence has increased against a backdrop of positive economic data.
This wave of the Ipsos B&A Consumer Confidence Barometer was conducted from the 8th – 14th July 2024.
Consumer confidence has increased sharply in July 2024. It now stands at a net rating of -24 (those feeling downbeat versus those feeling more upbeat), compared to -34 in June. This is the third month in a row where confidence has improved.
Indeed, confidence is at a 30-month high (stretching back to January 2022) and is up across all regions. In particular, Dubliners are more upbeat.
However, we are still in negative territory overall. Nearly half (46%) still expect the country to be worse off in the year ahead, with just 22% expecting the country to improve.
Females, those aged 35-54, or from lower social classes (C2DEs), and residents living outside Dublin continue to be more pessimistic about the year ahead. However, even among these cohorts, there has been notable positive improvements.
Nearly half (46%) expect to save less in the coming year; less than one in five (18%) are upbeat in their savings intentions. In addition, 45% think they will spend less over the next 12 months, with just one in eight (13%) feeling they will purchase more goods and services.
With inflation stabilising, and interest rates trending downwards, a majority of consumers remain quite resilient, with over two in three (67%) “coping” with the cost-of-living crisis. This is the highest level seen this calendar year. One in five (19%) are having difficulty.
There is still a belief among many that their net worth (in terms of the value of their personal assets) will grow over the next year– Nearly two in five (39%) believe their net worth will grow over the next 12 months with a rising tide evident across all regions. This outlook is at its most positive since August 2021.
In addition, one in four believe their income will increase over the next year.
DOWNLOAD AND READ THE FULL REPORT
For more details and the full report, please contact Paul Moran and Pooja Sankhe: paul.moran@ipsos.com and pooja.sankhe@ipsos.com
The Consumer Confidence report is conducted via the Ipsos B&A Acumen Online Barometer. Our group of research professionals has vast expertise in various omnibus methodologies. View our schedule here: https://banda.ie/research_technique/consumer-omnibus/
