Published on : Mar 06, 2018
Albany, New York, March 6, 2018: A new research report by Market Research Hub, titled ‘Christmas Spending Habits-Ireland-February 2018’ depicts an overview of Christmas spending habits and their preferences for various products during Christmas in Ireland.
It is a universal fact that people spend more during festivals like Christmas. It can be due to influence of their peer, the feeling of festivity and joy all around, or the more products offered by different companies. The level of favouritism for brands also rises at such times. This scenario of the market gives a wider scope to research on it. The research may include product or brand preferences of people, tactics adopted by companies to deal with the intensified competition and bring more innovations in products to attract customers. The analysis shows market statistics for all the major products and their companies which are leading in Ireland. There is also a major impact of Brexit on the markets of Ireland which is being closely monitored.
Drivers and Restraints
Various macro and regional dynamics are responsible for shaping a market and trends prevailing in it. On a macro level, the region’s market is affected by its economic stability. Factors like inflation or economic boom helps the marketers decide their market strategy, as to how can their business survive. The regional dynamics consists of factors like the level of competition in industry, spending power of people, product preferences etc. However there are also a few restraints observed in the market, like intensified competition which forces businesses to lower their profit making. They are forced to lower the prices of their products which limits their profits. The market research analysis also observes Irish women cutting back on their spending which is likely to limit sales of businesses during Christmas.
Report Structure and Components
The report on Christmas spending habits of Ireland, is made with an intention to provide data related to the sales done by marketers during Christmas, which products were more in demand. There is also a future forecast for likings and disliking of people that are going to affect sales of products. To give this report a systematic flow, it is commenced with an executive summary of market and its definition. It helps the readers get an idea as to what are the outcomes of research which are being highlighted in the report. This is followed by a section dedicated to the DROTs (Drivers, Restraints, Opportunities and Trends).
Competitive landscape forms a major part of the report as it consists of a brief on all the players that are innovating in the business. It helps the readers get an insight to the new tactics businesses have adopted and new products they have come up with, in order to attract masses during Christmas.
Here are a few facts about the market trends and Christmas spending habits of Ireland, revealed in this report:
- Brexit is expected to keep dampening intentions of spending during Christmas
- Black Friday sales influence a lot of people to shop during November
- People prefer using their savings more than credit, for Christmas shopping
- In-store sales to lead as a preferred channel for Christmas food shopping
- Clothing and shoes has more demand during Christmas, as people gift these products the most
- Consumers are witnessed preferring more of branded food and drinks during Christmas
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