Public Transport Journeys at 2019 levels
In its latest Transport Bulletin the CSO reports that, at nearly 3.2 million the number of bus journeys in Dublin for week beginning 24 October 2022 (week 43) matched the number of journeys in the same week in 2019, up 74% YoY. The number of bus journeys outside Dublin exceeded 2019 figures by 8% in the same week.
At over one million, there was no change in the number of Luas journeys in week 43 (week beginning 24 October 2022) compared with the same week in 2019 and it is 88% more than that recorded in 2021.
Rail journeys for week forty had 841,573 passengers which is in line with the week beginning 2 March 2020 (pre-COVID-19 levels).
For the last week in October 2022 (week 43), car traffic volumes in Dublin were 4% lower than the same week in 2019. For regional traffic, a similar pattern occurred, with the value for week 43 in 2022 being 8% lower than the same week in 2019.
The number of passengers in Dublin airport in October 2022 was almost twice that of October 2021 numbers, and 94% of the level seen in the same month in 2019 (before COVID-19). 2,689,667 passengers passed through Dublin airport in October 2022 compared with just 253,972 in the same month in 2020.
Black Friday Research shows Electronics the Most Popular Purchase
The Competition and Consumer Protection Commission (CCPC) commissioned Ipsos MRBI to conduct research in October 2022 to gain further insight into consumer attitudes to the Black Friday / Cyber Monday sales in the face of ongoing energy and product inflation. The survey was conducted ahead of the start of the Black Friday sales on 25th November.
The research found that just under 40% of consumers plan to purchase during the upcoming Black Friday sales, with those consumers expecting to spend an average of €400. Men are expecting to spend more than women in the sales with 36% expecting to spend at least €500, compared to 19% of women expecting to spend this much. There is some difference by age with 24% of under-45s and 32% older than this expecting to spend at least €500.
81% of consumers are planning on researching the advertised discount of the item before purchasing, with 18% responding that they would not do any research. Those intending to do some research was highest among the 45+ age group (87%) and lowest among the 15-24 age group (69%).
Electronics are the most popular item for consumers with 46% intending to buy an electronic item, with an average spend of €502. The most popular electronic item was a laptop or tablet device (37%), followed by mobile phones (26%) and televisions (22%). Clothing, footwear, and jewellery were the next most sought-after items (35%) with just over half of under 25-year olds planning these purchases.
The Banshees of Inisherin drives surge to Cinemas in October
Last month saw the release of director Martin McDonagh’s ‘The Banshees of Inisherin’, which had people flocking to cinemas according to spending figures from Bank of Ireland. Starring Brendan Gleeson and Colin Farrell, the now-acclaimed Disney movie is credited with driving up credit and debit card spending at cinemas by 44% during October. The latest transaction data shows that card spending edged 2% higher last month compared with September, with spending in pubs surging 12%.
Bank of Ireland debit and credit card spending in October revealed an uptick in spending across business sectors, with both Retail (+7%) and Social (+5%) spend rising higher when compared to September. Total October spending rose by 2% compared to September, a more positive picture than the same period in 2021 when spending dropped by 3%.
Despite facing higher energy, fuel and food bills, people have also been splashing out on takeaways, with card spending on everything from pizzas to Chinese food jumping 9% in October compared with September.
It is young people who are behind the increased spending, even though they are the ones often hit hardest when faced with economic challenges. Older consumers, while typically better off, have been more cautious in their spending.
Commenting on October’s spending data, Jilly Clarkin, Head of Customer Journeys & SME Markets at Bank of Ireland said: “To see both the retail and social sectors perform strongly in October is a positive sign, and total spending held up well following a dip in September and when compared to last year. A notable surge in cinema spend may be linked to the release of ‘The Banshees of Inisherin’ last month, which had people flocking to the big screen.
“It is worth noting that younger consumers are driving this spending, with 26 – 35-year-olds recording a 7% spike in October, followed by the 36 – 45 age cohort who’s spending rose by 5%. This contrasts with 56 – 65-year old’s where spending dipped by 2% and over-65’s where spending was flat for the month. We are now entering a busy time of year for retail and social spending, so it will be interesting to see if the next few months deliver more spending momentum.”
BoI debit and credit card transactions – October 2022 vs. September 2022
Beauty Spas +6%
Household appliances +6%