Net closing on a €10bn online buying splurge
Smartphones & broadband get Ireland clicking
SMARTPHONE shopping at the click of a button is expected to help drive internet sales to nearly €10billion in Ireland by 2023.
Figures from Euromonitor International reveal web spending hit €4.8billion last year.
The study said: “Internet retailing is becoming a norm in life for most Irish consumers, including older consumers who are becoming more tech savvy.”
The findings reveal online retailing is expected to continue to rise with sales reaching €9.7billion in 2023.
A Euromonitor analyst said: “Highspeed broadband penetration levels are expected to improve across rural Ireland, with most urban areas already having excellent connectivity.”
The study found mobile commerce will also grow at a rapid pace due to the further rollout of 4G networks and as smartphone technology continues to improve.
The analyst added: “More consumers are expected to shop via their phones and while app purchases will increase, a significant number of sales will be
performed via affiliate links through social media channels.”
The research found a “significant proportion” of Irish internet retail sales come from websites from the UK, with Amazon maintaining its position as the country’s leading internet retailer in 2018.
But it said there could be a lot of uncertainty for these sites with Brexit on the horizon.
The study found: “The cost of goods is anticipated to rise in the case of a hard Brexit, which would likely impact Amazon as the company positions itself as a value for money as well as speed of delivery player.
“Both these factors would be impacted by a hard Brexit.”
The study said the two major grocery retailers which offer online shopping, Supervalu and Tesco, have seen “rapid expansion in online delivery over the past number of years”.
The study noted: “Over the coming years, it is expected more grocery retail players will invest in internet retailing.
“It has been long expected that Dunnes Stores will expand its presence online to include grocery.
The report also referred to the role of social influences in digital shopping, adding: “Most consumers are more aware that “swiping up” on social media channels such as Instagram and making a purchase will give a commission to the person who set the link.”