brexit & the irish consumer - an amárach briefing june 2016
TRANSCRIPT
Brexit & the Irish ConsumerA Special Survey by Amárach Research
June 2016
Now that the UK has voted to leave the European Union, how will it affect Ireland in general and Irish consumers in particular?
We polled our smartphone panel on Friday 24th June – the day after Brexit – for their reactions.
The following is based on the responses of over 900 adults, weighted to the total population.
Ireland’s Options
4
Q. As a result of Brexit do you think Ireland should remain in the EU or leave the EU?
The vast majority (78%) think Ireland should remain in the EU, however 1 in 10 think Ireland should leave.
Demographics for Remain
Gender
Male
Female
Age
18-24
25-34
35-44
45-54
55+
79
77
85
82
71
71
80
Region
Dublin
ROL
Munster
Conn/Ulster
Social Class
ABC1F50
C2DEF50
80
77
78
75
82
74
% %
Remain78%
Leave10%
Don't know12%
5
Q. Do you think the Irish government should boost spending to offset the effects of Brexit?
Right now, more Irish people don’t think the Government needs to boost spending than think it does: though men are more inclined to support more spending than women.
Demographics for Yes
Gender
Male
Female
Age
18-24
25-34
35-44
45-54
55+
33
26
28
28
27
36
29
Region
Dublin
ROL
Munster
Conn/Ulster
Social Class
ABC1F50
C2DEF50
29
32
27
31
31
28
% %
Yes30%
No35%
Don't know35%
Consumer Impact
7
Q. Has the UK vote for Brexit made you more cautious about your own decisions to spend or borrow?
Nearly 4 in 10 (37%) say they have become more cautious about their own spending/borrowing as a result of the UK Brexit vote, those the majority are not.
37% 34%41% 40%
30%38% 41% 39% 38% 37%
51% 56% 45%53%
58% 46%46% 50% 51% 50%
12% 10% 14%7% 12% 16% 13% 11% 11% 13%
Total Male Female 18-24 25-34 35-44 45-54 55+ ABC1F50+ C2DEF50-
Yes No Don't know
8
Q. If more cautious: what has been the main effect of Brexit on your decisions?
Among those who have become more cautious after Brexit (37% of all adults) some 44% have decided to cut back on spending generally.
44% 41%47% 47%
30%
44%51%
46% 44% 44%
9% 11%8%
0%
15%
9%
12%
8% 10% 9%
7% 9% 4%
5% 9%
9%
7%
4% 6% 7%
7% 6% 7%
3%
15% 3%
7%
7% 5% 8%
33% 33% 34%45%
31% 35%
23%
35% 35% 32%
Total Male Female 18-24 25-34 35-44 45-54 55+ ABC1F50+ C2DEF50-
Decided to cut back generally Postponed big spending decision eg buying a car/furniture/home improvements
Other
44% 41% 47% 47%
30%44%
51% 46% 44% 44%
9% 11%8%
0%
15%
9%
12%8% 10% 9%
7% 9% 4%5% 9%
9%
7%
4% 6% 7%7% 6% 7%
3%
15% 3%
7%
7% 5% 8%
33% 33% 34%45%
31% 35%23%
35% 35% 32%
Total Male Female 18-24 25-34 35-44 45-54 55+ ABC1F50+C2DEF50-
Column1 Column2 Column3 Column4 Column5
44% 41% 47% 47%
30%44%
51% 46% 44% 44%
9% 11%8%
0%
15%
9%
12%8% 10% 9%
7% 9% 4%5% 9%
9%
7%
4% 6% 7%7% 6% 7%
3%
15% 3%
7%
7% 5% 8%
33% 33% 34%45%
31% 35%23%
35% 35% 32%
Total Male Female 18-24 25-34 35-44 45-54 55+ ABC1F50+C2DEF50-
Column1 Column2 Column3 Column4 Column5
44% 41% 47% 47%
30%44%
51% 46% 44% 44%
9% 11%8%
0%
15%
9%
12%8% 10% 9%
7% 9% 4%5% 9%
9%
7%
4% 6% 7%7% 6% 7%
3%
15% 3%
7%
7% 5% 8%
33% 33% 34%45%
31% 35%23%
35% 35% 32%
Total Male Female 18-24 25-34 35-44 45-54 55+ ABC1F50+C2DEF50-
Column1 Column2 Column3 Column4 Column5 Postponed a holiday abroad Postponed applying for a loan
9
Q. Will cheaper Sterling make you more likely to shop in Northern Ireland?
Nearly half of all Irish adults (45%) say they would be more likely to shop in Northern Ireland as result of cheaper Sterling, women more so than men.
Demographics for Yes
Gender
Male
Female
Age
18-24
25-34
35-44
45-54
55+
42
48
49
52
48
48
35
Region
Dublin
ROL
Munster
Conn/Ulster
Social Class
ABC1F50
C2DEF50
49
43
38
55
41
49
% %
Yes45%
No47%
Don't know
8%
The immediate reaction of Irish consumers to Brexit indicates a high degree of uncertainty about the future but also intentions to be prepared for the consequences (and opportunities).
Different sectors will feel the affects of Brexit first (e.g.: retail), while others will take longer (e.g.: tourism).
However, Ireland has enjoyed the fastest rate of growth of any country in the Eurozone in recent years, and that momentum will provide a considerable buffer as we adjust to post-Brexit economic realities.
Trends Report
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