Why Online Shopping is Booming in Ireland?

We are all aware that technology is changing the way we live. One of the most noticeable effects of this is consumerism. From apps that allow us to order our weekly groceries at the click of a few buttons, to home pod devices that make online purchases on our behalf using voice activated commands. Developments in technology are responding to the instant response that customers today seek.

So, it was no surprise when research out this week discovered that Ireland is home to the largest international online shoppers in the world. The market is growing rapidly, increasing by 20 per cent annually, with mobile shopping at the forefront of growth.

International Sales

However, the findings also show a gap and opportunity in the Irish market.

Research conducted by Ipsos on behalf of PayPal found that Irish people are more likely that any other nation to buy products from overseas. In fact, as many as 84 per cent of Irish people buy products online from overseas companies.

In main, this is largely driven by price and variety of products. Many consumers also admitted that domestic websites are off-putting due to high delivery fees and shipping costs.

The result is more than €2.7 billion in sales going towards foreign-owned websites in 2017.

Ireland Online

Irish businesses must take note of this trend and look at ways to lure local shoppers. In the first instance, it’s important to have an online presence. It’s very affordable and simple to buy a domain name and set up your own website for sales. Shopify, Weebly, Squarespace and WordPress hosting are just some of the online options that make e-commerce possible for companies of all sizes.

Another consideration is to look for domain names in Ireland. Having a .ie domain name lets customers know that they’re buying local.

Finally, if the market is as price sensitive as the research suggests, companies must look at ways to reduce delivery fees and look at ways to offer free returns.

Louise Phelan, PayPal’s vice president for EMEA, said: “There are huge numbers of consumers ignoring Irish retailers online at present. Merchants need to ensure that when consumers are searching for a product that they end up on an Irish website first and that those sites are easy to navigate so that they make purchases.”

Forecasts

Looking to the future, the report predicts that Irish consumers will spend a whopping €7.8 billion online this year. A figure that is only set to rise, with €10.1 billion projected by 2020.

Fuelling this growth is mobile spending, which allows ease and convenience for the changing face of shopping. This market is expected to expand by 61 per cent this year to €2.8 billion.

The opportunity for Irish businesses to tap in to this profitable market is huge. But if local businesses are to thrive in this growing digital world, the time for change is now.

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