Further easing of inflation leads to improved consumer confidence but spend intention remains low.
This wave of the B&A Consumer Confidence Barometer was conducted from the 8th-19th of June 2023.
With inflation easing, consumer confidence continues a slow but upwards trend from -39 in May to -32 for June. Consumer confidence is significantly higher than the same time last year.
But more than half (52%) still believe Ireland will fare worse in the year ahead, with just 1 in 5 (20%) believing that Ireland will improve.
Consumer confidence is lower among women, family life stages, and those living outside Dublin.
Despite the improvement in consumer outlook, both income and spend intentions see slight declines from May to June.
More than 2 in 5 (44%) expect a lower disposable income in the coming year. Income outlook has declined among those outside Dublin, while improving among those living in Dublin.
More than half (51%) expect to reduce spend in the year ahead. Just 11% expect to increase their spend.
Despite the challenging economic conditions, the majority of consumers (65%) are “coping” with the current cost-of-living crisis, while 1 in 5 (19%) are struggling.