Retail in 2024: The big picture
Following the high inflation and cost of living crisis that impacted retail sales in 2022 and 2023, Ireland saw a stabilisation in inflationary pressures in 2024, both in product pricing and utility costs. This shift contributed to an improvement in both consumer spending and sentiment.
Retailers focus on sustainability to align with consumer demands
In 2024, Irish consumers continued to become increasingly environmentally conscious, reflecting a broader global trend towards sustainability. Consequently, The Deposit Return Scheme in grocery retail proved successful, with 630 million empty cans and plastic bottles deposited at reverse vending machines across the Republic of Ireland since its launch in February 2024.
Consumers continue to be cautious of their spending during 2024
Although inflation stabilised in 2024, Irish consumers continued to feel the lingering effects of the cost-of-living crisis, with many remaining focused on finding products on promotion, utilising loyalty schemes, and opting for private label products. This consumer behaviour has benefitted discounters to a certain extent, allowing them to perform better than other grocery retailers.
What next for retail?
Conscious spending and sustainability awareness are expected to remain key influences on Irish consumer behaviour throughout the forecast period. As shoppers remain value-conscious amid ongoing economic pressures, retailers will likely emphasise products at affordable prices.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail industry in Ireland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail industry in Ireland, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Retail in Ireland report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Retail in Ireland?
- Which are the leading retailers in Retail in Ireland?
- How are products distributed in Retail in Ireland?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in Ireland?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in Ireland
Retail in 2024: The big picture
Retailers focus on sustainability to align with consumer demands
Consumers continue to be cautious of their spending during 2024
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas
Easter
DISCLAIMER
Convenience Retailers in Ireland
KEY DATA FINDINGS
While price points stabilise, many consumers remain cautious of their spending
Investments in energy efficiency and enhancing the consumer experience are key
Musgrave Retail Partners Ireland maintains its lead through popular store Centra
Convenience retailers are expected to respond to price sensitivity by installing price promotions
Musgrave is set to continue its expansion in Ireland while enhancing its offerings
Future strategies may include innovative store formats and engagement with the local community
Supermarkets in Ireland
KEY DATA FINDINGS
A solid performance as supermarkets focus on value and convenience
Iceland exits the Irish market while Supervalu retains its leading position
A rising focus on sustainability, organic produce and meat substitutes
Positive growth is expected for supermarkets as stores offer loyalty schemes and price-matching
A rising focus on sustainability will lead to increased use of digital signage and QR codes
Consolidation and expansion strategies are expected to shape the supermarket industry
Hypermarkets in Ireland
KEY DATA FINDINGS
Hypermarkets in Ireland benefit from the increase in consumption
Tesco sets ambitious sustainability goals while promoting healthier lifestyles
Tesco provides support to Irish producers and the local community
Challenges across the forecast period include competition from other modern retailers
The expansion of hypermarkets is unlikely to happen across the forecast period
A focus on diversification may support sales in hypermarkets across the forecast period
Discounters in Ireland
KEY DATA FINDINGS
Discounters continue to perform well as many consumers remain price-sensitive
Lidl gains ground by supporting Irish producers while focusing on sustainability
Aldi plans to invest significantly to open 30 new locations across Ireland
Positive growth for discounters is supported by low price points and ongoing expansion strategies
Discounters may start to integrate retail e-commerce into sales and marketing strategies
Leading players Lidl and Aldi are set to maintain a strong focus on sustainability
Small Local Grocers in Ireland
KEY DATA FINDINGS
Sales in small local grocers continue to struggle as other retailers offer competitive prices
Health food stores attract more attention as interest in wellbeing increases in Ireland
Holland and Barrett continues its expansion while introducing digital tools instore
Sales are expected to be challenged by a rise in operational expenses and increased competition
Sustainability initiatives and working with local communities could benefit small local grocers
Investments in omnichannel strategies may help small local grocers remain competitive
General Merchandise Stores in Ireland
KEY DATA FINDINGS
Positive growth for department stores as players focus on enhancing the consumer experience
Dealz invests in refurbishing its stores to improve both the staff and customer experience
Dunnes Stores Ltd gains permission for new landmark development in Crumlin
Solid prospects for department stores as footfall is expected to be positive
Variety stores is expected to see positive growth, however, discounters will remain a challenge
Department stores will face rising competition from retail e-commerce
Apparel and Footwear Specialists in Ireland
KEY DATA FINDINGS
Apparel and footwear specialists focus on engaging online experiences
Apparel and footwear specialists implement consumer experiences and open new stores in high street locations
New government initiatives focus on sustainability while resale platforms gain ground
A rising focus on sustainability is expected to shape store strategies over the forecast period
Apparel and footwear specialists face rising pressure from retail e-commerce
Sports and leisurewear is set to expand, aligned with the rising demand for activewear
Appliances and Electronics Specialists in Ireland
KEY DATA FINDINGS
Appliances and electronics specialists maintain retail value sales during 2024
Consumers shift to retail e-commerce to buy smaller electronics at affordable price points
The Irish Government raises awareness about recycling broken and unused appliances
Appliances and electronics specialists are set to be challenged by retail e-commerce and second-hand goods
The leading player in Ireland, Harvey Norman, expands into England
The uncertain geopolitical situation and an expected increase in customs duties and tariffs
Home Products Specialists in Ireland
KEY DATA FINDINGS
Home products specialists record a decline in sales amidst ongoing price-sensitivity
JYSK opens a distribution centre to reduce the delivery time of online orders
Ikea lowers prices of popular products while supporting sustainability efforts
Sales will be challenged by price sensitivity and an anticipated decline for homewares and home furnishing stores
Ikea is expected to continue its expansion plans across the forecast period
The lack of supply in the housing market may lead to an uplift in home renovations
Health and Beauty Specialists in Ireland
KEY DATA FINDINGS
Health and beauty specialists record positive growth despite rising challenges
The Body Shop exits the Irish market as the player struggles against rising competition
Boost retains its lead while LloydsPharmacy buys family-owned McCabe’s Pharmacy
Health and beauty specialists face rising competition from department stores and supermarkets
Sustainability and omnichannel strategies will be a key focus of health and beauty brands
Discount pharmacies are poised to boost competition and foster innovation
Vending in Ireland
KEY DATA FINDINGS
Despite the growth in tourism supporting demand, vending sales decline
Vending focuses on healthy food options to appeal to a wider range of consumers
Premium coffee drinks remain one of the most popular areas of diversification
There is an opportunity for expansion in non-captive and semi-captive environments
The Deposit Return Scheme is facilitated by reverse vending machines in Ireland
The integration of smart technology is expected to improve the consumer experience in vending
Direct Selling in Ireland
KEY DATA FINDINGS
Direct selling records a retail value decline for the third consecutive year
Herbalife records sales growth and improves its share with a focus on health and wellbeing products
The uncertain economic situation leads to recruitment within direct selling jobs
Direct selling is set to face rising competition from online retailers
Health and wellness products are expected to perform well as consumers embrace rising wellness trends
Direct selling is expected to shift further online, reaching a wider audience
Retail E-Commerce in Ireland
KEY DATA FINDINGS
Retail e-commerce outperforms offline retail as consumers migrate to online platforms
Amazon announces plans to launch its .ie domain while supporting Irish businesses
Companies focus on expanding their omnichannel strategies to align with consumer demands
Retail e-commerce is expected to record strong growth as retailers focus on seamless experiences
A rising focus on sustainability will lead players to implement eco-friendly processes
Third-party marketplaces are expected to grow across the forecast period
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
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This report originates from Passport, our Retail research and analysis database.
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