The latest issue of our consumer insights update featuring extracts from PML Group’s research resources plus items of interest from home and abroad.Featured in this issue:

Issue 2, 2019

E xplore

Reach for the Z: Why OOH Is So Effective

2

Reach for the Z: Why OOH Is So EffectiveNiamh Manning, Marketing Executive, here at PML Group, delves into the attitudes and ad perceptions of Gen Z, 15-24-year olds in this case, who are set to become the largest generation of consumers by 2020.

Move over millennials and avocado toast because Gen Z is coming.

While age range is a topic of debate, the former of the generation is beginning to graduate into adulthood and the workforce, finding independence within their purchasing habits and maturing into fully-fledged consumers.

According to MCCP, Gen Z now accounts for 21% of the Irish population with the census estimating there are approx. 605,000 15-24-year olds living in Ireland.

Growing up with the internet, they are the first digital natives of Ireland. They don’t remember a time with no social media or smartphones and because of this their consumption habits and attitudes to advertising are drastically different from generations before them.

Avoiding Intrusions Being digital natives, Gen Z has witnessed the explosion and saturation of advertising channels and formats in recent years. Their awareness of advertising is heightened from the volume of ads they wade through every day, as well as intensifying concerns over privacy and data handling.

As a result, they can be critical of advertising methods. Qualitative research collected for an Ámarach Gen Z study shows ad overload, repetitiveness and being wrongly targeted are particular advertising pet peeves for the next generation.

The proliferation of streaming services and tech has also had a significant impact on the advertising model with the rise of ad free TV, ad free music and the use of adblockers changing behaviour.

TGI insights shows 52% of Gen Z feel bombarded by ads and nearly half use some type of adblocker on their devices. They are also more likely to use the software when compared to the rest of the population (Index: 114). It appears Gen Z prefer non-intrusive advertising formats and is skilled at avoiding ads when they become disruptive.

3

Simply put, Gen Z are being exposed to less advertising, making the most connected the hardest to reach. Reaching for ZWhile it may not seem the most obvious choice for today’s connected youth, OOH is well placed to cater for these over saturated viewers.

According to a 2017 study by Kantar Millward Brown, one of the most popular media for Gen Z is Out of Home. The same study reports that 55% of Gen Z favour Outdoor advertising because they find it “relaxing”. Out of Home is seen as a passive medium, consumed by people as they journey through their daily lives. It’s seen as part of the landscape and there is certain amount of control the audience has over Outdoor, reaching them at a time when they are generally more receptive to advertising and looking for distraction when out and about.

OOH holds a unique position in the media landscape as it doesn’t disrupt people, experiences, activities or content being consumed, factors that are contributing to advertising fatigue across all audiences.

Linking the Offline and Online This is not to say digital advertising is ineffective or redundant for Gen Z. However, OOH is becoming the mainstay for cross channel campaigns and driving engagement in a more direct way.

OOH is proven to strengthen digital and mobile advertising, important for a generation who are heavy mobile users. A report released by Nielsen shows OOH is the most effective offline medium in driving online activity, delivering four times more online activity than other traditional counterparts.

OOH is proven to amplify other channels and create action among audiences transcending from the real to the digital world and bridging the gap between the two. Our own iQ research shows 64% of Gen Z has searched online for more information about company/product they’ve seen advertised on Out of Home and 60% have visited a retail outlet/store as a result.

Shared experienceOut of Home, being in the public domain, is also a medium that is shared with others making it a real and collective experience, something that appeals to Gen Z.

Gen Z will amplify the campaign into other spheres- whether that’s sharing it through their social media feeds or discussing with friends and family. OOH now not only attracts eyeballs but engagement with billboards becoming as instagrammable as food – we all see it, therefore we can all talk about it.

PML Group’s Out of Home consumer survey (OCS) emphasises this with nearly a third of Gen Z talking to friends and family about a brand they saw advertised on Out of Home in the past week. 26% have also taken a picture of an OOH advert in the past week.

OOH triggers Gen Z to respond, something that is imperative to a brand when they look to create awareness, relevance and affinity with the fickle consumers that have little or no brand loyalty as of yet.

In the coming years, Gen Z will begin to have an increasing influence on how brands communicate and engage. And while it’s important to note this is a generation spanning multiple life stages with variance in behaviour, as a whole they are and will continue to shift trends in communication and consumption.

It is imperative advertisers understand this coming of age audience to gain the insights on where to focus their efforts to create truly integrated cross channel campaigns for effective advertising and advertisers shouldn’t underestimate the power of OOH in influencing Gen Z.

Now reach for the Z.

Reach for the Z: Why OOH Is So Effective

4

OF THE POPULATION

have taken a photo of an OOH advert in the past week

have taken a photo of an OOH advert in the past week

use an adblocker

have searched online for further information on product/service they’ve seen advertised on OOH in past week

34%

44%

OOH is a good way of finding out about new

products/services

69%

agree advertisement helps them choose what to buy

26%26%

feel bombarded by advertising have talked to

friends/family about an OOH advert they’ve seen in the past week

have talked to friends/family friends/family about an OOH advert they’ve seen in the seen in the past week

feel bombarded by advertising

Reach for the ZDelving into the attitudes and ad perceptions of Gen Z, (15-24-year olds) who are set to become the largest generation of consumers by 2020.

5

Macro Factors for OOHBeing an advertising medium in the public environment, several economic, societal and behavioural factors contribute to the health of OOH. Check out some of the macros that attribute to the buoyancy of OOH taken from various sources of research.

2518 +

6

Power of Billboards: Fame As part of our ongoing iQ research programme we recently asked a panel of Dublin respondents their views on billboards in relation to fame, trust and desirability.

Advertising on billboards make brands more famous

Billboards make brands more famous

7

Power of Billboards: Trustworthiness

Advertising on billboards make brands more trustworthy

Billboards make brands more trustworthy

8

Power of Billboards: Desirability

Advertising on billboards make brands more desireable

Billboards make brands more desireable

9

Work.Shop.Play on the movework.shop.play is an online community panel which allows Exterion Media to gain a better understanding of Irish urban audiences who spend time working, shopping and socialising in our towns and cities. Here the media owner looks at people on the move.

10

Canal Cordon Report 2018The Canal Cordon 2018 report released by the National Transport Authority (NTA) shows the number of people travelling by public transport continues to rise, with an increase of 5% reported on 2017 figures.

The NTA collected data from a number of sources on people crossing the Canal Cordon into Dublin’s City Centre in the AM peak period between 07:00 and 10:00. The data enables the tracking of trends in the modes of travel that people are using to travel into the City Centre.

(Figure 1. Total numbers of vehicles, pedestrians and cyclists crossing the Canal Cordon inbound between 07:00am and 10:00am from 2006 to 2018.)

(Table 2. total numbers of people crossing the canal cordon inbound in the AM peak period between 07:00-10:00 for 2018 and for each year since 2006, broken down by mode of travel.)

11

(Table 3 percentage mode share for all modes of travel used by people crossing the canal cordon inbound between 07:00 and 10:00 for the years 2006 to 2018.)

Canal Cordon Report 2018

12

TomTom Traffic DublinThe TomTom Traffic Index, which studied traffic in 403 cities across 56 countries, paints a grim picture of how long it takes to get around in the Irish capital. Dublin is now the 14th most congested city in the world - and the sixth worst in Europe.

13

TomTom Traffic Belfast

14

TomTom Traffic Cork

15

TomTom Traffic Limerick

16

Dublin Economic Monitor

Total Dublin consumer spending growth eases modestly in Q1

The Dublin Economic Monitor is a joint initiative on behalf of the four Dublin local authorities to track developments in the capital’s economy. The latest report is from May 2019 which provides top stats on the capital’s economy and Dublin’s Mastercard Spending Pulse.

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q12019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no changerecorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA). Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

DUBLIN Mastercard SpendingPulseTM | May 2019

95

100

105

110

115

120

125

130

Q1

14

Q2

14

Q3

14

Q4

14

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q3

18

Q4

18

Q1

19

TOTAL RETAIL SALES INDEX (SA)

DUBLIN IRELAND

+4.3% 121.9DUBLIN SALES INDEX VALUE

YOY GROWTH IN DUBLIN SALES INDEX

+0%

QOQ GROWTH IN DUBLIN SALES INDEX

DUBLIN RETAIL SALES VALUE INDEX (SA)

TOTAL DUBLIN CONSUMER SPENDING GROWTH EASES MODESTLY IN Q1

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q1 2019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no change recorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA).

Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

122

METHODOLOGYA macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.

Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

Q1 2019 Q1 2019

119

+4.3% YoY

+3.7% YoY

100 = Q1 2014

Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak

(-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth.

One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018. This contrasts with many reports of falling Chinese

tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum

heading in to the high Spring and Summer season.

2

“Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak (-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth. One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018.This contrasts with many reports of falling Chinese tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum heading in to the high Spring and Summer season.” Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

17

DUBLIN Mastercard SpendingPulseTM | May 2019

95

100

105

110

115

120

125

130Q

1 14

Q2

14

Q3

14

Q4

14

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q3

18

Q4

18

Q1

19

TOTAL RETAIL SALES INDEX (SA)

DUBLIN IRELAND

+4.3% 121.9DUBLIN SALES INDEX VALUE

YOY GROWTH IN DUBLIN SALES INDEX

+0%

QOQ GROWTH IN DUBLIN SALES INDEX

DUBLIN RETAIL SALES VALUE INDEX (SA)

TOTAL DUBLIN CONSUMER SPENDING GROWTH EASES MODESTLY IN Q1

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q1 2019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no change recorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA).

Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

122

METHODOLOGYA macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.

Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

Q1 2019 Q1 2019

119

+4.3% YoY

+3.7% YoY

100 = Q1 2014

Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak

(-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth.

One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018. This contrasts with many reports of falling Chinese

tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum

heading in to the high Spring and Summer season.

2

Dublin Economic Monitor

DUBLIN Mastercard SpendingPulseTM | May 2019

95

100

105

110

115

120

125

130

Q1

14

Q2

14

Q3

14

Q4

14

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q3

18

Q4

18

Q1

19

TOTAL RETAIL SALES INDEX (SA)

DUBLIN IRELAND

+4.3% 121.9DUBLIN SALES INDEX VALUE

YOY GROWTH IN DUBLIN SALES INDEX

+0%

QOQ GROWTH IN DUBLIN SALES INDEX

DUBLIN RETAIL SALES VALUE INDEX (SA)

TOTAL DUBLIN CONSUMER SPENDING GROWTH EASES MODESTLY IN Q1

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q1 2019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no change recorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA).

Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

122

METHODOLOGYA macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.

Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

Q1 2019 Q1 2019

119

+4.3% YoY

+3.7% YoY

100 = Q1 2014

Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak

(-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth.

One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018. This contrasts with many reports of falling Chinese

tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum

heading in to the high Spring and Summer season.

2

DUBLIN Mastercard SpendingPulseTM | May 2019

95

100

105

110

115

120

125

130

Q1

14

Q2

14

Q3

14

Q4

14

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q3

18

Q4

18

Q1

19

TOTAL RETAIL SALES INDEX (SA)

DUBLIN IRELAND

+4.3% 121.9DUBLIN SALES INDEX VALUE

YOY GROWTH IN DUBLIN SALES INDEX

+0%

QOQ GROWTH IN DUBLIN SALES INDEX

DUBLIN RETAIL SALES VALUE INDEX (SA)

TOTAL DUBLIN CONSUMER SPENDING GROWTH EASES MODESTLY IN Q1

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q1 2019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no change recorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA).

Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

122

METHODOLOGYA macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.

Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

Q1 2019 Q1 2019

119

+4.3% YoY

+3.7% YoY

100 = Q1 2014

Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak

(-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth.

One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018. This contrasts with many reports of falling Chinese

tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum

heading in to the high Spring and Summer season.

2

DUBLIN Mastercard SpendingPulseTM | May 2019

95

100

105

110

115

120

125

130

Q1

14

Q2

14

Q3

14

Q4

14

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q3

18

Q4

18

Q1

19

TOTAL RETAIL SALES INDEX (SA)

DUBLIN IRELAND

+4.3% 121.9DUBLIN SALES INDEX VALUE

YOY GROWTH IN DUBLIN SALES INDEX

+0%

QOQ GROWTH IN DUBLIN SALES INDEX

DUBLIN RETAIL SALES VALUE INDEX (SA)

TOTAL DUBLIN CONSUMER SPENDING GROWTH EASES MODESTLY IN Q1

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q1 2019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no change recorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA).

Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

122

METHODOLOGYA macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.

Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

Q1 2019 Q1 2019

119

+4.3% YoY

+3.7% YoY

100 = Q1 2014

Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak

(-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth.

One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018. This contrasts with many reports of falling Chinese

tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum

heading in to the high Spring and Summer season.

2

DUBLIN

Mastercard

Spen

din

gPu

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| May 2019

95

100

105

110

115

120

125

130

Q1 14

Q2 14

Q3 14

Q4 14

Q1 15

Q2 15

Q3 15

Q4 15

Q1 16

Q2 16

Q3 16

Q4 16

Q1 17

Q2 17

Q3 17

Q4 17

Q1 18

Q2 18

Q3 18

Q4 18

Q1 19

TOTAL RETA

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DUBLIN

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122

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Q1 20

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119

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Tourist spending remained robust in Q

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15.1% vs Q

1 2018. While U

K tourism spending w

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(-5% YoY) spending from

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2

DUBLIN Mastercard SpendingPulseTM | May 2019

95

100

105

110

115

120

125

130

Q1

14

Q2

14

Q3

14

Q4

14

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q3

18

Q4

18

Q1

19

TOTAL RETAIL SALES INDEX (SA)

DUBLIN IRELAND

+4.3% 121.9DUBLIN SALES INDEX VALUE

YOY GROWTH IN DUBLIN SALES INDEX

+0%

QOQ GROWTH IN DUBLIN SALES INDEX

DUBLIN RETAIL SALES VALUE INDEX (SA)

TOTAL DUBLIN CONSUMER SPENDING GROWTH EASES MODESTLY IN Q1

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q1 2019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no change recorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA).

Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

122

METHODOLOGYA macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.

Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

Q1 2019 Q1 2019

119

+4.3% YoY

+3.7% YoY

100 = Q1 2014

Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak

(-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth.

One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018. This contrasts with many reports of falling Chinese

tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum

heading in to the high Spring and Summer season.

2

DUBLIN

Mastercard

Spen

din

gPu

lseTM

| May 2019

95

100

105

110

115

120

125

130

Q1 14

Q2 14

Q3 14

Q4 14

Q1 15

Q2 15

Q3 15

Q4 15

Q1 16

Q2 16

Q3 16

Q4 16

Q1 17

Q2 17

Q3 17

Q4 17

Q1 18

Q2 18

Q3 18

Q4 18

Q1 19

TOTAL RETA

IL SALES IN

DEX (SA)

DUBLIN

IRELA

ND

+4.3%

121.9D

UBLIN

SALES

IND

EX VALU

E YOY GRO

WTH

IN

DU

BLIN SA

LES IND

EX

+0%

QO

Q GRO

WTH

IN

DU

BLIN SA

LES IND

EX

DU

BLIN RETA

IL SALES VA

LUE IN

DEX (SA

)

TOTAL D

UBLIN

CON

SUM

ER SPEND

ING

GROWTH EASES M

ODESTLY IN

Q1

Both Ireland and Dublin experienced a m

ild deceleration in retail sales grow

th rates in Q1 2019. For Ireland, sales slow

ed from

4.2% YoY

(SA) in Q

4 2018 to 3.7% YoY

(SA) in Q

1 2019. D

ublin sales growth slow

ed from 6.9%

YoY (SA

) in Q4

2018 to 4.3% YoY

(SA) in Q

1 2019. While retail spending in

Dublin increased YoY, on a quarterly basis there w

as no change recorded. This m

ay be linked to lower than norm

al quarterly grow

th rates in Necessities (0.1%

QoQ

, SA) and D

iscretionary Sales (0.2%

QoQ

, SA).

Tourism spending grew

by 15.1% YoY

in Q1 w

ith weakness in

UK

spending being offset by strong trends from other m

ajor regions.

122

METH

ODOLO

GY

A m

acro-eco

no

mic in

dicato

r, Spen

din

gPu

lse™ rep

orts o

n n

ation

al and

Du

blin

retail sales and

is based

on

agg

regate sales activity in

the M

astercard

paym

ents n

etwo

rk, cou

pled

with

estimates fo

r all oth

er paym

ent fo

rms, in

clud

ing

cash an

d ch

equ

e. This in

form

ation

has b

een g

rossed

up

to p

resent

an estim

ate of th

e total retail sales o

f retail bu

sinesses in

Ireland

and

Du

blin

to b

oth

residen

ts and

tou

rists. Data is seaso

nally ad

justed

bu

t is no

t ad

justed

for in

flatio

n. M

astercard Sp

end

ing

Pulse™

do

es no

t represen

t Mastercard

fin

ancial p

erform

ance. Sp

end

ing

Pulse™

is pro

vided

by M

astercard

Ad

visors, th

e pro

fession

al services arm o

f Mastercard

Intern

ation

al Inco

rpo

rated. See w

ww

.du

blin

econ

om

y.ie for m

ore in

fo o

n m

etho

do

log

y.

Michael M

cNam

ara GLO

BAL H

EAD

OF SPEN

DIN

G PULSE, M

ASTERCARD

Q1 20

19Q

1 2019

119

+4.3%

YoY+3.7%

YoY

100

= Q1 20

14

Tourist spending remained robust in Q

1 growing by

15.1% vs Q

1 2018. While U

K tourism spending w

as weak

(-5% YoY) spending from

virtually all the other major

regions we track saw

accelerations in spending growth.

One interesting area is tourism

spending from China

where Q

1 2019 growth w

as almost 19%

vs Q1 2018.

This contrasts with m

any reports of falling Chinese tourism

spending in the USA

in recent months. O

utside the U

K, tourism spending has very positive m

omentum

heading in to the high Spring and Sum

mer season.

2

DUBLIN Mastercard SpendingPulseTM | May 2019

95

100

105

110

115

120

125

130

Q1

14

Q2

14

Q3

14

Q4

14

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q3

18

Q4

18

Q1

19

TOTAL RETAIL SALES INDEX (SA)

DUBLIN IRELAND

+4.3% 121.9DUBLIN SALES INDEX VALUE

YOY GROWTH IN DUBLIN SALES INDEX

+0%

QOQ GROWTH IN DUBLIN SALES INDEX

DUBLIN RETAIL SALES VALUE INDEX (SA)

TOTAL DUBLIN CONSUMER SPENDING GROWTH EASES MODESTLY IN Q1

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q1 2019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no change recorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA).

Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

122

METHODOLOGYA macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.

Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

Q1 2019 Q1 2019

119

+4.3% YoY

+3.7% YoY

100 = Q1 2014

Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak

(-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth.

One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018. This contrasts with many reports of falling Chinese

tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum

heading in to the high Spring and Summer season.

2

DUBLIN Mastercard SpendingPulseTM | May 2019

95

100

105

110

115

120

125

130

Q1

14

Q2

14

Q3

14

Q4

14

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q3

18

Q4

18

Q1

19

TOTAL RETAIL SALES INDEX (SA)

DUBLIN IRELAND

+4.3% 121.9DUBLIN SALES INDEX VALUE

YOY GROWTH IN DUBLIN SALES INDEX

+0%

QOQ GROWTH IN DUBLIN SALES INDEX

DUBLIN RETAIL SALES VALUE INDEX (SA)

TOTAL DUBLIN CONSUMER SPENDING GROWTH EASES MODESTLY IN Q1

Both Ireland and Dublin experienced a mild deceleration in retail sales growth rates in Q1 2019. For Ireland, sales slowed from 4.2% YoY (SA) in Q4 2018 to 3.7% YoY (SA) in Q1 2019. Dublin sales growth slowed from 6.9% YoY (SA) in Q4 2018 to 4.3% YoY (SA) in Q1 2019. While retail spending in Dublin increased YoY, on a quarterly basis there was no change recorded. This may be linked to lower than normal quarterly growth rates in Necessities (0.1% QoQ, SA) and Discretionary Sales (0.2% QoQ, SA).

Tourism spending grew by 15.1% YoY in Q1 with weakness in UK spending being offset by strong trends from other major regions.

122

METHODOLOGYA macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.

Michael McNamara GLOBAL HEAD OF SPENDING PULSE, MASTERCARD

Q1 2019 Q1 2019

119

+4.3% YoY

+3.7% YoY

100 = Q1 2014

Tourist spending remained robust in Q1 growing by 15.1% vs Q1 2018. While UK tourism spending was weak

(-5% YoY) spending from virtually all the other major regions we track saw accelerations in spending growth.

One interesting area is tourism spending from China where Q1 2019 growth was almost 19% vs Q1 2018. This contrasts with many reports of falling Chinese

tourism spending in the USA in recent months. Outside the UK, tourism spending has very positive momentum

heading in to the high Spring and Summer season.

2

18

Consumer Market Monitor The Consumer Market Monitor is a publication provided by the Marketing Institute of Ireland in collaboration with the UCD Michael Smurfit Graduate Business School.

It is designed to track key indicators of confidence and activity in the Irish consumer market as a resource for marketers and the wider business community. To view the full report, please click here

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Pharmaceuticals and cosmetics up 7.1% in volume and 5.3% in value

Non-specialised stores (supermarkets) up 5.3% in volume and 4.7% in value

Fuel up 3.8% in volume and 5.0% in value

Department stores down -0.2% in volume and down -2.6% in value

Books, newspapers and stationery up 4.2% in volume and 6.7% in value

ar sales down -3.2% in volume and -1.1%% in value

Food sales up 5.0% in volume and up 4.2% in value

08 09 Consumer Market Monitor Q1 2019Introduction

Retail sales were solid rather

than spectacular in 2018, up

by 3.7% in volume terms and

2.4% in value, compared

to growth of 5.8% in

volume and 3.5% in

value in 2017.

Clothing, footwear and textiles up 8.0% in volume and 6.5% in value

Household equipment up 18.1% in volume and 10.4% in value

ar SalesFollowing the recession, car sales began to recover in 2014, and grew strongly in 2015 and 2016, to a total of 142,688 units.

This trend reversed in 2017, with new car sales down -10.5% to 127,045. Sales weakened further in 2018, down -4.6% to 121,157 and this trend is continuing in 2019, with sales for the first quarter down by -12.9% for a total of 50,861.

In contrast, there has been a rise in the number of imported second hand cars, totalling 99,456 in 2018. This trend is continuing in 2019 with sales up 4.9% in Q1 to 25,906.

Taking new and imported cars together, sales were flat in 2017 and 2018 at about 220,000. This looks like dropping to 210,000 for 2019 with sales divided about equally between new and imported second hand cars. This compares to a total of 240,000 in 2007 of which 180,745 were new cars.

e ail S e iRetail sales (excluding the motor trade) were solid rather than spectacular in 2018, up by 3.7% in volume terms and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. 2018 sales equated to €45 billion which was back to the levels last seen in 2007.

Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, considerably lower than the growth rate experienced in the final quarter of 2017 (6.7% in volume and 3.9% in value). This out-turn was probably a result of faltering consumer confidence due to the uncertainty caused by Brexit.

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Most retail categories reported good growth in Q1 year-on-year, with the exception of the bar trade and the motor trade. Household equipment continued to be the fastest growing category, up by an exceptional 18.1% in volume and 10.4% in value, year-on-year. Supermarkets and other food stores performed well, as did clothing and footwear, but department stores were weaker with sales close to flat in Q4 2018 compared to last year.

Motor trades down -0.6% in volume and down -0.2% in value

Consumer Incomes and Spending AnnualHousehold disposable income in Ireland increased by 60% from 2002 to 2008- from €65bn to €104bn, due to growing employment and rising incomes.09 This trend reversed in 2009 and continued downwards until 2012, down by -15% in real terms, as a result of increasing unemployment, falling wages and higher taxes.

This trend reversed in 2013 and 2014, when disposable income rose by 3%. It continued torise in 2015, 2016 and 2017, up by 5% per annum on average. This trend accelerated in 2018 with household disposable income up by 5.9% to €111 billion. Forecasts suggest that it

19

is likely to increase at a similar rate of 5% this year.

Household wealth has also recovered well from the recession, standing at €770 billion in 2018, up 70% from the trough of €430 billion in Q2 2012. Household deposits also grew 4.3% in 2018 to €4.1 billion, the largest annual increase since early 2008.

Household spending, which accounts for 92% of all personal spending, closely mirrors income, increasing by 48% from 2002 and 2008, from €62bn to €95bn. Spending then declined to a low of €84 billion in 2011, down -15% in current terms (-7.5% in real terms).Household spending began to recover in 2014 and continued to grow in 2016 and 2017, up by 3-4% per year. Spending accelerated in 2018, up by 5% to €98 billion. Household spending is likely to exceed €100 billion this year, exceeding the peak in 2008.

onsumer onfidence Annual

onsumer confidence in reland fell dramatically in 2008 as the financial crisis unfolded, and remained low through 2009, 2010, 2011 and 2012. onfidence recovered slightly in 2013 and rose further through 2014 due to a steady flow of good news on employment.05

This upward trend continued in 2015, strengthening through the year.06 At this point, we were well ahead of the last peak in 2007 and of our uropean neighbours.

onfidence fell slightly through 2016 reflecting uncertainly about Brexit. However, it picked up again in 2017 and finished the year very positively, well above our neighbours. This positivity

eroded slightly in 2018 with confidence falling each quarter due to Brexit fears.

onsumer confidence in the UK has been negative since Q2 2016, reaching a low of -8 in December 2018. onsumer confidence in the U has also been relatively weak but a bit stronger than the UK.

n contrast, confidence has been very high in the US, ending the year 2018 at an historically high level of 138, fuelled by good news on employment and the stock market.07

05. www.independent.ie/business/irish/irish-consumer-sentiment-nears-eightyear-high-in-december-30892291.html06. http://www.rte.ie/news/business/2015/1001/731686-consumer-sentiment/07. http://money.cnn.com/2018/12/27/news/economy/us-consumer-confidence/inde .html

onsumer onfidenceQuarterly

onsumer confidence in reland fell slightly through 2016, reflecting uncertainty about Brexit and industrial unrest at home. However, it picked up in 2017, in response to strong employment data, reaching a level considerably higher than neighbouring countries.

onfidence dropped through 2018 reflecting worries about a “hard Brexit” and negative implications for the rish economy. his down-ward trend has continued in quarter one of 2019, going into negative territory for the first time since 2014. owever, confidence here is still higher than in the UK and the wider U.

onsumer confidence in the UK has been negative since Q2 2016, reaching a low of

-8 in December 2018 due to worries about re it and its knock-on effects. t had edged

up a small bit this year but is still in negative territory.

onsumer confidence in the U has also been relatively weak in recent quarters reflecting political uncertainly in several of the larger economies as well as Brexit fears.

n contrast, merican consumer confidence has been very strong, reached 138 in October 2018, the highest level in 18 years. It has since fallen back, to 124 in March, following the government shutdown and weakness in the stock markets.07

08. https://www.bloomberg.com/news/articles/2019-02-26/u-s-consumer-confidence- umps-as-current-views-hit-18-year-high

nsu er n dence January 2008 - ece er 2018

20.00

10.00

0.00

-10.00

-20.00

-30.00

-40.00

-50.00

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

uro e i e i om rela

nsu er n dence uarter 1 201 - uarter 1 2019

13 Consumer Market Monitor Q1 2019Consumer Analysis

12 Consumer Market Monitor Q1 2019Consumer Analysis

40.00

30.00

20.00

10.00

0.00

-10.00

-20.00

-30.00

-40.00

2013

Q1

Q2

Q3

Q4

2014

Q1

Q2

Q3

Q4

2015

Q1

Q2

Q3

Q4

2016

Q1

Q2

Q3

Q4

2017

Q1

Q2

Q3

Q4

2018

Q1

Q2

Q3

Q4

2019

Q1

uro e i e i om rela

Consumer Market Monitor

Retail Sales Annual

Retail Sales Annual

Retail sales stabilised in 2012 and 2013 and resumed growth in 2014 with volume up by 3.7% and value by 1.6%. 2015 saw sales accelerate with increases of 6.1% in volume and 2.7% in value.

2016 saw 4.8% volume growth with a growth in value of 1.8%. Growth accelerated in 2017, up 5.8% in volume and 3.9% in value. 2018 was a little weaker but still in positive territory, up 3.9% in volume and 2.6% in value. Taking the past three years together, we have averaged growth of 4% per annum in real, volume terms, reaching a total of €45 billion in 2018, close to the last peak in 2007.

Online sales have been taking an increasing share of retail each year, amounting to €5 billion in 2018, or 11%.

Retail sales in the UK remained flat from 2008 until 2012. Sales picked up in 2013 and 2014 and accelerated in 2015 and 2016, with volume up 5% per annum.38 However, growth fell back in 2017, to just 2%, and remained slow in 2018, up by 2.7%. Online sales accounted for 20% in 2018 up 14% on the previous year.39

US retail sales were up by 5% in 2012 and 2013 but slowed to 2% in 2014 and 2015.40 Growth picked up in 2016, to 3.3%, and rose by 5% in 2017 and by 4.3% in 2018.41

38. http://www.ons.gov.uk/ons/rel/rsi/retail-sales/november-2018/stb-rsi-nov-15.html39. https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/december201840. http://www.census.gov/retail/index.html41. https://www.thebalance.com/u-s-retail-sales-statistics-and-trends-3305717

Retail Sales Index 2008 - 2018

28 Consumer Market Monitor Q1 2019Consumer Analysis

Retail Sales Quarterly

Retail sales have a major seasonal peak in November-December, 50% above the monthly average for the rest of the year. Sales growth was strong in 2016 and 2017, up 5% in volume and 3% in value on average.

Retail sales were solid rather than spectacular in 2018, up by 3.7% in volume and 2.4% in value, compared to growth of 5.8% in volume and 3.5% in value in 2017. Growth was a little softer in the fourth quarter, up 3.2% in volume and 2.0% in value year-on-year, half the level of growth in Q4 2017 (up 6.7% in volume and 3.9% in value).

Fortunately, 2019 got off to a much stronger start, with sales up by 6.0% in volume and 4.3% in value in the first quarter and the positive momentum is continuing in quarter two.

Retail sales in the UK grew strongly in 2015 and 2016, up 5% p.a.42. Growth fell back to 2% in 2017 and remained subdued in 2018 at 2.7%. Sales picked up in Q1 2019, up 5% year-on-year. Online sales accounted for 20% in 2018, up 14% year-on-year.

Retail Sales Index January 2012 - March 2019

29 Consumer Market Monitor Q1 2019Consumer Analysis

2012

Q1

Q2

Q3

Q4

2013

Q1

Q2

Q3

Q4

2014

Q1

Q2

Q3

Q4

2015

Q1

Q2

Q3

Q4

2016

Q1

Q2

Q3

Q4

2017

Q1

Q2

Q3

Q4

2018

Q1

Q2

Q3

Q4

2019

Q1

160.0

150.0

140.0

130.0

120.0

110.0

100.0

90.0

80.0

Series 1 Series 2

130

120

110

100

90

80

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

102.

311

3.7

105.

812

0.3

108.

612

5

114.

911

1.7

102

104.

2

97.4

102

95.7 99

.8

96 99.6

5

95.8 10

0.3

97.4

104.

1

9910

8

Base 2005 = 100 Value Volume

42. http://www.ons.gov.uk/ons/rel/rsi/retail-sales/november-2015/stb-rsi-nov-15.html

Retail sales stabilised in 2012 and 2013 and resumed growth in 2014 with volume up by3.7% and value by 1.6%. 2015 saw sales accelerate with increases of 6.1% in volume and 2.7% in value.

2016 saw 4.8% volume growth with a growth in value of 1.8%. Growth accelerated in 2017,up 5.8% in volume and 3.9% in value. 2018 was a little weaker but still in positive territory, up 3.9% in volume and 2.6% in value. Taking the past three years together, we have averaged growth of 4% per annum in real, volume terms, reaching a total of €45 billion in 2018, closeto the last peak in 2007.

Online sales have been taking an increasing share of retail each year, amounting to €5 billion in 2018, or 11%.

20

Consumer Market Monitor Retail sales in the UK remained flat from 2008 until 2012. Sales picked up in 2013 and 2014 and accelerated in 2015 and 2016, with volume up 5% per annum.38 However, growth fell back in 2017, to just 2%, and remained slow in 2018, up by 2.7%. Online sales accounted for 20% in 2018 up 14% on the previous year.

US retail sales were up by 5% in 2012 and 2013 but slowed to 2% in 2014 and 2015.40 Growth picked up in 2016, to 3.3%, and rose by 5% in 2017 and by 4.3% in 2018.

21

For further details on any piece of research featured in Explore please contact: Colum: colum@pmlgroup.ie - James: james@pmlgroup.ie - Niamh: niamhm@pmlgroup.ie