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Irish Independent
5 days ago
- Business
- Irish Independent
Young people are hot for iced coffee – even when the weather isn't that warm
Almost three-quarters (74pc) of consumers in this category buy iced drinks regularly, almost double the proportion (40pc) of over-55s. The findings emerge in the latest Spring and Summer Trends and Insights Report by UK-based coffee syrup manufacturer Beyond the Bean, which looked at stores across Ireland, the UK, US, Canada, Denmark and Poland. It highlights that iced beverage consumption has surged by 26.7pc since 2023, driven mainly by Millennials and Gen Z. 'The report shows that this generation drinks cold drinks all year around – not just during the summer,' said Sheila Dowling, Bewley's Commercial Director. 'There is speculation that younger people will eventually revert to hot coffee, but I don't think that will be the case. 'If we look at sales data on Starbucks in the US, 80pc of their coffee is now served cold.' The trend analysis found that under-30s who drink iced beverages make a purchase every week, with winter consumption six pc higher than average across all other age categories. Despite the price of coffee soaring to global highs this year, Dowling suggests coffee may be an affordable luxury for younger people. 'Where people have disposable income is in colleges and university – they are more likely to spend their income than save for the rainy day,' she said. 'This year, the industry price of coffee rose higher than we'd ever seen in the Bewley's history of coffee - it more than doubled in price compared to this time last year. 'This has implications for the retailer and the customer – the price is going to affect people's pockets. 'Anecdotally, we hear that so many things have gone up in price, but coffee is seen as an affordable luxury.' Separately, the Allegra Project Café Ireland 2025 report, published in April, shows that 18.7pc of male and female respondents order iced coffee on a weekly basis, compared with 25.2pc of males and 21.7pc of females who buy hot coffee. Those living in Dublin are more likely to go iced, with 23.5pc ordering it weekly versus 16. pc outside the county. Over a third of people (31.7pc) aged under-35 in Ireland said they buy iced coffee monthly, with just 10.2pc choosing hot coffee over the same time period. To meet the growing demand for cold brew, Bewley's has spent 18 months sourcing the best cold brew product to bring to the Irish coffee market. The Bewley's Columbian Fairtrade Cold Brew process involves coffee grounds being slowly steeped in cool water, which extracts a less acidic flavour from the bean. The chemical profile and flavour are unique from conventional brewing methods because the ground coffee beans never come into contact with heated water. 'It isn't that the hot espresso over ice option is bad, but it is like comparing pink lady and granny smith apples – they're very different,' said Dowling.
Irish Times
08-07-2025
- Business
- Irish Times
Ireland's competitiveness on downward trend just as major challenges move into focus
Ireland's competitiveness is on a downward trend, and there remains a 'critical need' to address key infrastructure deficits, at a time when the country's economic outlook 'firmly tilted to the downside', according the findings of a major report. The report, Ireland's Competitiveness Challenge 2025, was drafted by the National Competitiveness and Productivity Council , which advises the Government on key issues facing the economy. While Ireland is ranked as the most competitive country in the euro area and the seventh most competitive economy in the world, it has fallen from second place just two years ago. The decline was largely due to a drop in 'business efficiency' from third place to 11th. READ MORE A key issue highlighted by the report is shortcomings in Ireland's critical infrastructure, such as access to water and electricity. 'There remains a critical need to enhance the delivery of our economic infrastructure to address growing deficits,' the report notes. [ Ireland slips two places in 2024 global competitiveness league Opens in new window ] 'Significant infrastructural demand arising from strong population growth, in combination with an insufficient supply response has resulted in growing deficits across housing, energy, water and transport.' The report says planning delays 'continue to hamper our ability to meet targets', and that the Government should consider the introduction of mandatory timelines in relation to licensing, including for environmental licenses. The council says productivity in the construction sector remains 'unacceptably low' in a period of 'critical need for increased output', and that there is a need to 'better understand' the drivers of this. How the wealthy are buying up land to avoid inheritance tax Listen | 22:03 The report also deals with personal injury claims, which it says are emerging as a 'major cost driver' for businesses in Ireland through their 'significant influence' on insurance premiums and risk assessments. Legal costs in litigation are 'disproportionately high', it says, calling for a re-examination of the methodology used to benchmark the level of awards in advance of the next review of the personal injuries awards guidelines. Indeed, the report deals extensively with the cost of doing business, which it says 'continues to present significant competitiveness challenges despite overall economic resilience'. [ Banking, housing remain challenges to Ireland's competitiveness, NCPC report says Opens in new window ] It notes that labour costs in Ireland 'have risen sharply' in recent years and are projected to continue increasing due to wage growth and public policy moves to improve working conditions. The report also refers to the new 'enhanced reporting requirements', which require employers to provide detailed reporting on expenses paid to employees or directors without the deduction of tax, as a 'new source of increased labour-related cost', and calls for them to be reviewed. 'For employers submitting relevant returns outside of standard payroll filings, this represents a new administrative burden,' it says. 'There is a concern about the proportionality of requiring all employers to provide such information.' Some 11,170 company liquidations occurred last year, with the number of insolvent liquidations up threefold to 1,917. Meanwhile, the number of solvent liquidations was higher than in any of the previous 10 years. Some 320 new companies in the hospitality sector and 276 new companies in the retail sector were incorporated in the first five months of this year. Both numbers were down by almost half on last year. The council believes all of the issues outlined in the report are harming Ireland's competitiveness at a time when it is already under pressure from 'uncontrollable' geopolitical factors such as US President Donald Trump's aggressive trade policies. Indeed, the report notes the concentration of trade with partners in the United States 'has been jeopardised' in recent months, and calls on the Government to help Irish firms to diversify export markets and supply chains. It says the risks to Ireland's economic outlook 'remain firmly tilted to the downside', while efforts to incentivise reshoring by US multinationals and the repatriation of intellectual property out of Ireland could have 'major and lasting implications' for Ireland.
Yahoo
09-06-2025
- Business
- Yahoo
Employee Benefits in Ireland 2025: Comprehensive Study Highlights Key State and Private Benefits for Irish Workers
Discover comprehensive insights into Ireland's employee benefits landscape, including state, compulsory, and private benefits. Analyze the intricate social security framework, key regulatory acts, and the role of central institutions. Enhance strategic decisions with detailed regional benefits and market insights. Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "Employee Benefits in Ireland 2025" report has been added to report provides in-depth industry analysis, information, and insights of the employee benefits in Ireland, including an overview of the state and compulsory benefits in Ireland, detailed information about the private benefits in Ireland, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Irish social security system covers company employees, self-employed individuals, the unemployed, people with less than minimum resources, and dependent family members of deceased employees. The Irish social welfare system is divided into social insurance payments, means-tested payments, and universal payments. The payment of social insurance is mandatory; both employers and employees must contribute Pay-Related Social Insurance (PRSI) contributions to the Social Insurance Fund. Self-employed persons pay Class S social insurance contributions directly to the Revenue Commissioners, although these are not required to be paid after the age of 66. A range of state benefits is available for Irish residents, which are subject to several conditions other than social insurance contribution requirements. Companies across the country also provide customized private benefits to their employees as a supplement to state Highlights The Minimum Notice and Terms of Employment Act 1973, the Organization of Working Time Act 1997, the Payment of Wages Act 1991, and the Maternity Protection Act 1994 are responsible for the functioning of the overall social security system. A person's national insurance contribution is determined based on their income. An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to a credited contribution. Employers offer voluntary retirement benefits via voluntary occupational DC pension plans, which are prevalent in the country, such as Personal Retirement Savings Accounts (PRSAs), Retirement Annuity Contracts (RACs), Approved Retirement Funds (ARFs), and Personal Retirement Bonds (PRBs). This report provides a detailed analysis of employee benefits in Ireland: It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment benefits, long-term care benefits, minimum resource benefits, leaves and holidays, and private benefits It highlights the economic and regulatory situations relating to employee benefits in Ireland Reasons to Buy Make strategic decisions using in-depth information related to employee benefits in the country Assess employee benefits of the market, including state and compulsory benefits and private benefits Gain insights into the key employee benefit schemes offered by private employers in the country Gain insights into key organizations governing employee benefits market, and their impact on companies Key Topics Covered: 1. Executive Summary2. Introduction3. Country Statistics4. Overview of Employee Benefits in Ireland5. Regulations6. State and Compulsory Benefits6.1 Retirement Benefits Introduction Eligibility Benefits Payment options Contribution 6.2 Death in Service Introduction Eligibility Benefits Payment options Contribution 6.3 Long-Term Disability Benefits Introduction Eligibility Benefits Payment options Contribution 6.4 Short-Term Sickness Benefits Introduction Eligibility Benefits Payment options Contribution 6.5 Medical Benefits Introduction Eligibility Benefits Payment options Contribution 6.6 Workers' Compensation insurance Introduction Eligibility Benefits Payment options Contribution 6.7 Maternity and Paternity Benefits Introduction Eligibility Benefits Payment options Contribution 6.8 Other Benefits Family Benefits Unemployment benefits Long-Term Care Benefits Minimum Resources Benefits Leaves and Holidays 7. Private Benefits7.1 Retirement Benefits7.2 Death Benefits7.3 Disability Benefits7.4 Medical Benefits7.5 Accidental Death and Dismemberment Benefits7.6 Other Benefits For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
