Irish customers are changing their spending habits significantly and cutting back on optional spending as the cost of living crisis continues, according to a new study
Recent data from popular financial app Revolut suggests spending on clothes, sports activities and cinema trips have dropped, while supermarket shopping went up by about 6 per cent in July. These figures represent a share of the 1.7 million Revolut customers in Ireland who complete transactions via the app.
While supermarket spending went up in July, it still falls short of figures reported at the same time the previous year. The fall in annual grocery spending suggests people are looking for cheaper alternatives as food prices increase.
