An annual survey of Christmas spending plans predicts that Irish consumers will again be among the highest spenders in Europe despite a drop from last year.
Deloitte said average spending per household this Christmas in Ireland would be €943, down from €1,020 in 2010.
Over the last two years, shoppers in Luxembourg had overtaken the Irish in terms of spending, but this year they will spend slightly less - on average €923 per household.
The survey of 780 people, which was carried out in the second and third week in September, shows that of the total planned for this Christmas, €520 will be spent on gifts, €258 will be spent on food, and €165 will be spent on socialising.
This year Irish consumers are predicting that they will spend 9.5% less on gifts, 5.5% less on food and nearly 4% less on socialising.
"Following a steep decline of 10.6% in spending last year, it's somewhat encouraging for retailers that the drop in spend is not as significant as last year," said Deloitte's Richard Howard.
59% of respondents said the main reason for spending less was the economic downturn and a belief that it would worsen. 33% indicated it was because they are in debt.
