Cork's spending behaviour since lockdown revealed

Cork's spending behaviour since lockdown revealed
Pedestrians on St. Patrick's Street in Cork city.Picture Denis Minihane.

Cork consumers have been spending more on clothes, fast food, takeaway and hardware and garden supplies during the first two phases of the Government’s roadmap to reopening society and business.

Data collected by Allied Irish Banks (AIB) shows the change in Cork’s spending behaviour with higher transaction amounts for clothes, fast food, takeaway food, and hardware throughout phase one and two than prior to restrictions.

The data was compiled from over one million AIB debit and credit card transactions between May 18 and June 14.

The average transaction amount in Cork for clothing was €77 compared to a national average of €75.

The average amount spent on fast food in Cork was €18 and on takeaway food was €30.

The amount spent on hardware was €126 compared to the national average transaction amount of €118.

Nationally, June 12 was the busiest day for clothes shopping and the second busiest day overall in terms of in store transactions since the Covid-19 restrictions started to lift.

Penneys stores across the country opened on June 12 with significant queues of people eager to spend money in the popular clothing store after months of closure.

Friday, May 29 was the busiest day for instore spending so far since the restrictions started to lift.

The data also showed that Irish customers tend to spend on a Friday with three out of the top five busiest days being Fridays.

Overall, the top five busiest days for shopping nationally since the restrictions lifted were Friday, May 29, Friday, June 12, Friday, June 5, Thursday, May 28, and Thursday, June 11.

The busiest day for restaurants was June 13, while the busiest day for grocery stores was May 29.

Pharmacies experienced their busiest day on June 2 while electrical stores’ busiest day was June 4 and hardware stores’ busiest day was May 29 after reopening as part of phase one of the Government’s roadmap.

Head of SME Banking at AIB, Rachel Naughton, said that the data reveals “positive signs of recovery” and “some interesting insights into how consumers are behaving as businesses emerge from lockdown”.

“With the volume of transactions still down on previous levels, support for our SMEs is vital now more than ever. As Irish businesses reopen it’s imperative that we shop local to back our SMEs who are the lifeblood of our communities,” she said.

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