Despite a backdrop of economic positivity, the latest Ipsos B&A Consumer Confidence Barometer remains cautious.
This wave of the Ipsos B&A Consumer Confidence Barometer was conducted from the 30th August – 9th September 2024.
Consumer confidence has improved marginally in September 2024. It now stands at a net rating of -21 (those feeling downbeat versus those feeling more upbeat), compared to -23 in August.
Given the backdrop of positive economic indicators (falling inflation, interest rates and near-full employment), this suggests a cautiousness – we are not necessarily more confident, but rather, are less pessimistic.
Taking a longer view, confidence has improved dramatically since early 2022, when the effects of the Ukraine war and subsequent energy price shocks were at their most acute’
As before, Dubliners are most upbeat.
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. These cohorts have consistently been more subdued over time.
Over two in five (44%) expect to save less in the coming year (up three points since August)., with one in five (21%) believing they will be in a position to save more.
Purchase intentions in the year ahead has also dropped from -27% in August to -34% in September, indicating that degree of cautiousness; over two in five expect to actively spend less over the next 12 months.
In terms of the Cost-of-Living issue (65%) are “coping”, marginally down by three points this month. But one in five are facing difficulties; a proportion of the population that has remained consistent. It suggests that not everybody is benefitting from economic tailwinds.
One in four anticipate that their personal income will improve this year, but a sizeable minority (35%) are more downbeat. The net gap (higher vs lower income) has disimproved in September.
Survey results are based on a sample of 1,058 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.
View the full report: https://banda.ie/ipsos-ba-consumer-confidence-september-2024/
For more details and the full report or more information, please contact Jimmy Larsen, Paul Moran, or Pooja Sankhe: Jimmy.Larsen@ipsos.com, Paul.Moran@ipsos.com, or Pooja.Sankhe@ipsos.com
