Consumer Mindset - May 2026
Core Research’s latest Mindset study, based on fieldwork with 1,000 adults every month is available as a PDF download above.
Ireland Moves from Crisis Response to Permanent Caution
Irish consumers appear to be entering a new psychological phase of the cost-of-living crisis. The sharp anxiety and volatility seen during earlier inflation shocks is beginning to soften, but this should not be mistaken for renewed confidence. Instead, consumers increasingly appear to be adapting to a reality where higher living costs, economic uncertainty and financial trade-offs are now viewed as permanent features of everyday life.
The rebound in Consumer Sentiment this month reflects easing fears around immediate disruption rather than a return to optimism. Consumers remain cautious, defensive and highly value-conscious. Financial confidence continues to lag significantly behind emotional wellbeing, suggesting that while people are coping socially and psychologically, many households still feel economically exposed.
This May’s mindset points towards a population that must increasingly learn to live with continued pressure rather than expecting conditions to quickly improve. Essential and unavoidable costs such as energy, transport, groceries and housing continue to dominate consumer concern, reinforcing a growing sense that affordability pressure is now structural rather than temporary.
At the same time, important divisions are beginning to emerge beneath the national averages. Family households, particularly those with older children, are experiencing a higher intensity of financial pressure across nearly every category measured. These households are not simply managing rising costs, but attempting to preserve normality, routine and quality of life under sustained strain.
Indeed, the latest Irish borrowing data (BPFI 2025) suggests that many family households may increasingly be using credit to bridge affordability pressure. Record growth in personal lending during 2025 was heavily concentrated in car finance, home improvements and energy-efficiency upgrades, categories closely tied to maintaining household stability and functionality. Rather than signalling consumer confidence, this may reflect households attempting to preserve continuity, mobility and quality of life despite rising day-to-day financial strain.
Despite this strain, emotional resilience remains surprisingly intact. Enjoyment and happiness continue to outweigh stress and frustration overall, suggesting Irish consumers are still protecting moments of connection, escapism and wellbeing where possible.
This tension between emotional resilience and financial caution may increasingly define Irish consumer behaviour over the coming year.
For brands, and policymakers, the challenge is not about responding to a short-term crisis. It is understanding the consumer mindset shaped by adaptation, selective spending and permanent economic vigilance.
