Almost €1 billion in harm was caused to Irish consumers in 2023 due to issues with goods or services which resulted in shoppers losing money, time or peace of mind.

A study conducted by the Competition and Consumer Protection Commission (CCPC) found 39 per cent of over 4,500 people surveyed had encountered some kind of issue with goods or services they purchased last year.

Of that 39 per cent, 10 per cent said they were still dealing with the issue six months after the matter arose.

However, the survey found that when consumers contacted a trader over their issue, one in eight had the matter resolved in under a day, and one in three cases were solved within a week.

The majority (81 per cent) said they were at least moderately stressed by the issue, while 62 per cent admitted to spending some of their working time attempting to rectify the matter.

The CCPC estimated that the most serious issues resulted in an estimated financial loss to consumers of €968 million in 2023.

“People should be able to rely on the goods and services they buy – and if things do go wrong, their right to redress is set out in consumer protection law,” CCPC chair Brain McHugh said.