Consumers will spend on average 10.6% less this Christmas, according to a Deloitte survey of Christmas spending.
This compares to the average European reduction of 2.5%. However, Ireland remains in second place in the European spending table behind Luxembourg, but the average spend has now reduced by over 30% since 2008.
According to the survey, the average spend per household in Ireland this Christmas will be €1,020. The average European spend is €590.
The survey, carried out in the last two weeks in September, shows that of the average spend per household in Ireland this festive season €650 will be spent on gifts, €250 will be spent on food, and €120 will spent on socialising.
This year Irish consumers advised that they would spend 11% less on gifts, 7.5% less on food and nearly 14% less on socialising.
According to the survey, the top three adult gifts most likely to be purchased are cosmetics/perfumes, gift vouchers and books.
