Toy industry sees major boost ahead of Christmas rush

by Rachel Cunningham
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Toy purchases in November soared by 99 per cent on October, according to the latest data from Bank of Ireland on debit and credit card spending. 

The bank noted that spending in November was 13 per cent higher compared with the same month in 2021, with a growth of 12 per cent in social spending and retail a rise of 10 per cent.

The data revealed that shoppers across the country kickstarted their Christmas shopping early, as perennials such as clothing and groceries rose 37 per cent and 15 per cent, respectively. 

Electronic shopping saw a significant spike of 56 per cent last month, while furniture, department and hardware stores all increased from October.   

Longford, which was the only negative spending county in October, experienced a spike of 16 per cent in November, while further major spending rises were also posted in Galway (12 per cent), Donegal (10 per cent), Louth (10 per cent), Clare (8 per cent) and Meath (8 per cent).

Commenting on November’s spending data,Jilly Clarkin, Head of Customer Journeys & SME Markets at Bank of Ireland, explained that November’s positive spending trends could be noted across a range of sectors and ages. 

Those aged between 46 and 55 years old recorded a 13 per cent rise in spending, closely followed by the 36 to 45 year old and 56 to 65 year old groups, which were both at 11 per cent. 

“Savvy shoppers were quick out of the blocks in November, launching their Christmas shopping plans and working through their lists for their nearest and dearest,” said Ms Clarkin.

“The data suggests that after a couple of years where Christmas was curtailed for many due to pandemic restrictions, people are making up for lost time and making sure that Christmas 2022 will be an extra-special one.”

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