Both Retail spend (up 7%) and Social spend (up 5%) rose when compared to September.
County-by-county, the October spend picture was also somewhat brighter, comparing positively with the same month in 2021 when spending in all 26 counties dipped.
Consumers in Cavan (spend up 9%) and Roscommon (spend up 6%) led the way last month, while Meath and Mayo (spends up 4%),Limerick and Donegal (spend up 3%) trended upwards too.
Social spend took a significant hit in September but rebounded well in October, with fast-food purchases going up by 9% and the restaurant sector (which suffered a 22% spending decline in September) enjoying a small rise of 2%, providing some relief for business owners approaching the busy Festive season.
Total October spend rose by 2% compared to September, a more positive picture than the same period in 2021 when spending dropped by 3%.
“To see both the retail and social sectors perform strongly in October is a positive sign” said Jilly Clarkin, Head of Customer Journeys & SME Markets at Bank of Ireland, commenting on October’s spending data, “and total spending held up well following a dip in September and when compared to last year.
“We’re now entering a busy time of year for retail and social spending, so it will be interesting to see if the next few months deliver more spending momentum.”
BoI debit and credit card transactions – October 2022 vs September 2022
|Beauty Spas +6%|
|Household appliances +6%|