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Retail sector booms in Ireland

Rocketing retail spend and new developments in Ireland is bringing international retailers to the country according to a report by Verdict Research.

According to Verdict Research, over the last decade the Irish Republic’s retail market has grown to Euro 24.4 billion which has leapt by 34% over the last five years. The purchasing power in the country is among the highest in the EU, with only Luxembourg rivaling it. In addition, the relaxation of store size limits has attracted major property developers to the country.

On the back of this growth, Verdict Retail said more international retailers are choosing to expand into Ireland. Recent additions to the market include TKMaxx, Arcadia, Debenhams and Marks and Spencer.

Verdict Research retail analyst Daniel Lucht said “To succeed and stay in the game, retailers must execute the right strategy at the right time. For incumbent and powerful new entrants the opportunity is massive - relatively high personal debt levels indicate that Irish consumers are not shy when it comes to spending.”

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