Consumer spending up 5% in July: AIB Spend Trend

consumer-spending-up-5%-in-july:-aib-spend-trend

Consumer spending rose by 5% last month, according to AIB, as hot weather benefitted hotels, restaurants and amusement parks.

The bank’s latest Spend Trend report – which analysed 81.4 million card transactions by AIB customers in the month – recorded a 5% increase in overall spend, with in-store spending up by the same percentage.

Online spending by the bank’s customers fell by 1% in July, though.

The report said spending on accommodation rose by 9% year-on-year, while restaurant and dining spend was up 8%.

Spending at amusement parks and carnivals rose by 9%, pubs saw a 4% increase in AIB card transactions, while entertainment spend was up 6%.

That was boosted by the debut of two blockbuster films, with The Oddyssey and Spiderman: Brand New Day pushing cineman spend 13% higher year-on-year.

The data also captured activity around the All-Ireland football and hurling finals.

AIB said Kerry fans spent 50% more in Dublin than they did at the semi-final, while Mayo fans’ Dublin spend was up 30%.

And while Mayo triumphed on the pitch, on final day Kerry supporters in Dublin outspent their Mayo rivals by more than 20%.

In Co Mayo itself, spending in sports shops rose by 138% year-on-year as supporters stocked up on jerseys and flags.

Between All-Ireland final day and the following Tuesday, pub spending in the county was up 210% year-on-year, while restaurant spending rose 58%.

For the hurling final, Limerick fans spent 33% more in Dublin than was the case during their semi-final, however Galway supporters recorded a 6% drop compared to theirs.

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