Spending on hotel, restaurant and pub services fell in September in Ireland, according to AIB’s latest spending trend data.
AIB said: “Spending for 18-25 year olds increased 7% in September, as students returned to universities across the country. % increase in spending during the month.
“At the same time, spending in the hospitality industry fell over the month, with spending on hotels down 25%, restaurants down 7% and pubs down 11%.
“The only exception in the hospitality industry was airline consumer spending which rose 26% in September – the seventh consecutive monthly increase since the start of the AIB Spend Trend series.
“Spending on health and beauty (+ 10%), electronics (+ 7%), equipment (+6), household items (2%) and groceries (+ 1%), all increased during the month of september.
Speaking about the data, John Brennan, Head of SME Banking Services at AIB, said: ‘As we have seen in previous reports, consumer spending in Ireland is seasonal, with various industries having different spending profiles. depending on the time of year. This data can be very useful for businesses as they plan based on activity levels throughout the year.
“Turning to the spending trend for September, as expected, data shows spending in the domestic hospitality sector fell after peaking during the summer months. However, spending on consumer goods such as electronics, hardware, groceries and household items increased during the month. Spending by those aged 18 to 25 has increased as students return to universities across the country. As the global economy begins to open up to international travel, we have also seen a significant increase in airline bookings. Irish consumers have played a crucial role in supporting the national economy over the past 18 months and we must continue to support all of these businesses, including those in the hotel sector as the economy recovers from the COVID-19 pandemic .
“Overall, consumer spending continued to rise in September, up 4% from August despite lower spending in the hospitality sector. Card usage continued to increase with a 0.55% increase in chip and pin usage and a 6% increase in digital wallet usage in September. E-commerce spending also rose 11% in September after leveling off during the summer months.
“Meanwhile, the busiest day in spending during the month was the 24th.e September (payday), while the quietest day to spend was 12e September. However, when it comes to spending online, the busiest day was 30e September when the quietest day for online shopping was the 5the September.
AIB added: “Spending in other sectors in September was as follows:
|Sector||Increase / Decrease (in August)|
|Airline company||+ 26%|
|drinking places (Pubs and unlicensed)||-11%|
|Health beauty||+ 10%|
|Household items||+ 1%|
“AIB Spend Trend presents one of the most comprehensive and accurate data sets on consumer spending in Ireland. The data was compiled from AIB debit and credit card spending of over 54 million transactions between September 1 and September 30, 2021. To account for the difference in the number of days per month, the trend of AIB Spending examines average daily spending instead of total monthly spending, which accurately reflects consumer spending habits. “
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