Consumer Mindset - December 2023
This report is informed by the Credit Union Consumer Sentiment Index,
in partnership with Core Research.
As we reach the end of 2023, this final report in the Mindset series, provides some indication of the areas to consider for 2024. Early in the new year, we will publish PREDICT 24 – which will explore the expectations that people hold for the year ahead.
Ahead of this, there are several events which have influenced the mood of the nation as we reach the end of the year.
STORIES THAT SHAPED 2023
In REVIEW 23, Maeve Heslin and I looked back at some of the most impactful stories of the year. The news event which resonated the most with Irish people, were the riots in Dublin, which followed the shocking attack of children on 23rd November.
According to the Core Cultural Index, 84% of adults felt the Dublin riots were significant. This is the highest resonating story of 2023.
This moment has not been the first violent event related to far-right ideology and concerns about immigration but has very much brought the topic of migration and civil unrest back into public discourse.
The news and events in December have not been greatly optimistic, and despite the inflation rate in decline, concern about the cost of living remains high, rising again from November. This is a factor of ongoing concerns about housing, health, conflict abroad and the climate crisis.
HAPPINESS HAS IMPROVED, BUT CONFIDENCE IS FLAT
Despite many of these challenges, there is a larger proportion of the population who say they are happy or hopeful this Christmas compared to last year.
This is also related to economic confidence. The Credit Union Consumer Sentiment Index, in partnership with Core Research has risen year-on-year, but in recent months has remained relatively flat.
This would indicate that many people see further uncertainty in the year ahead.
2024: ISSUES AND IRISH HEROS
In this final chapter of the 2023 series, Core Research asked people what issue they believed would be most significant in 2024.
One in three (36%) stated housing, followed by 26% who said the cost-of-living. Both areas play a significant role in Core’s
PREDICT 24 report published in January 2024.
The third most significant issue people cited was Ireland’s response to refugees and the state’s immigration policy (13%) with a further 5% of people concerned about the rise of far-right ideology.
Katie Taylor was voted the hero of the year, closely followed by Caio Benicio, the Brazilian man who disarmed a knife-wielding attacker in the horrific November 23rd incident which left three children and their teacher injured. People in Ireland went on to celebrate Benicio, indicating a strongly level of gratitude for people living in Ireland, born outside the country. However, civil cohesion will be greatly tested as the housing crisis continues to impact many in 2024.
With US, European and local elections in 2024, increased uncertainty about global security and electioneering in Ireland, next year will present many challenges for people to navigate. Our Mindset series will continue to reveal the mood of the nation.