As inflation continues to fall, consumer sentiment has improved according to the latest Ipsos B&A barometer.
This wave of the Ipsos B&A Consumer Confidence Barometer was conducted from the 10th– 16th January 2024.
On a macro level, inflation has fallen again in January and is now below five percent for three consecutive months. This is mirrored in an improved consumer outlook. While the public is still deeply in negative territory (positive minus negative sentiment for the next 12 months stands at -33), this represents an improvement of five points since December, and is at a six month “high”.
While half (51%) still anticipate the country to be worse off a year from now, this is the lowest negativity we have seen in two years. Nearly one in five (18%) are upbeat for the future.
Consumer confidence tends to be lower among females, those aged 35+, and those from lower social classes (C2DEs).
On this key metric, and indeed all future measurements of wealth or growth, those living in Dublin are most positive. This is consistent with previous findings.
Nearly two in three (65%) claim that their households are “coping” with increased prices. However, there remains a consistent proportion of the population who are struggling – 19% are experiencing difficulties.
Those who are struggling are statistically more likely to be lower down the socio-economic ladder among those aged 35-54 (24%).
Half (49%) expect to reduce their spending on goods and services over the year ahead, with just one in seven (14%) anticipating increased spending.
A similar proportion (46%) envisage they will save less over the next twelve months, with just 22% believing that they will save more.
As a nation we expect the value of our assets to increase this year, with all regions expressing an upbeat appraisal.
Survey results are based on a sample of 1,020 adults aged 16+, quota controlled in terms of age, gender, socio-economic class, and region to reflect the profile of the adult population of the Republic of Ireland. All interviewing was conducted via Ipsos B&A’s Acumen Online Barometer.
For more details and the full report or more information, please contact Jimmy Larsen, Paul Moran, and Pooja Sankhe: jimmy@ipsosbanda.ie , paul@ipsosbanda.ie, and pooja@ipsosbanda.ie
