Understanding consumer detriment in Ireland
Summary
A CCPC report finds that consumer problems with goods and services cause significant financial loss, stress and time costs in Ireland. Nearly 4 in 10 consumers experienced detriment, costing €968 million overall, though many issues were resolved quickly when traders were contacted.- Publication date:19 February 2024
- Industry:Financial and insurance services - L, Professional, scientific & technical activities - N, Supply of electricity, gas & other - D, Telecom & IT service activities - K, Wholesale & retail trade - G
- NACE code:Retail trade - G.47, Telecommunication - K.61
A new report has detailed the money, time and peace of mind lost by Irish consumers when things go wrong with goods and services.
A survey of more than 4,500 consumers asked them to recall issues that had cost them money, caused them stress, or taken up their time in the previous 12 months. Competition and Consumer Protection Commission (CCPC) researchers used this to estimate the level of consumer detriment in Ireland.
Of 4,537 consumers surveyed, 39% reported experiencing detriment. Of that 39%:
- 81% reported being at least moderately stressed by the issue.
- 62% spent some work time resolving their issue.
- 10% were still experiencing an issue more than 6 months later.
The financial loss to consumers for their most serious issues came to €968 million. On a more positive note, the survey found that when consumers contacted the trader about the issue, 1 in 8 had the issue resolved in under a day, 1 in 3 in under a week.
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