Retail Excellence Ireland has said that the outlook for the Christmas trading period is positive, with indications that trade will be marginally up on last Christmas.

In Part One of its Christmas Trading Update, for the period up to today, REI found that the must-have toys this Christmas are Frozen dolls, from the Disney movie.

It said supply of the dolls has run out, with some retailers saying the counterfeit toys market is more lucrative than other illicit markets.

Other findings included a positive effect on trade from Black Friday and Cyber Monday, and a mixed impact from the water protests.

REI Deputy CEO Seán Murphy said: "The water protests led to a significant reduction in footfall and sales in Dublin City with many retailers expressing concern at sales erosion of up to 50%.

"However that same day proved a productive one for the M50 shopping centres."

The report also suggested that the final days before Christmas could see strong trade, with many people planning to finish work this Friday, and better weather expected this year compared to last year.