Ireland-Supermarkets concerned.

REPUBLIC OF IRELAND

Supermarkets concerned.

Shoppers could spend 500 million euros less in the supermarkets of Ireland this year, according to industry sources over the weekend.

The normal grocery sales are 12 billion euros a year and sales have already dropped by 4% across the board.

The English supermarket giant Tesco, enjoy 26.3% of all the sales in the country, they are opening 16 more stores this year. The turmoil in the supermarket industry is fueling rumors of mass mergers in the near future.

The prime target for takeover would appear to be Irish owned Dunn’s Stores, who have 23%of market share