Irish consumers are increasingly using credit CARDS as payment methods, while they seem to be shunning cash. According to the latest figures from the Irish central bank, credit card transactions in the country rose by 9% in the first three months of this year, to 17.2 billion euros, compared with the same period last year. More than 6 million debit and credit CARDS were active in Ireland at the end of march. Ireland’s e-commerce sales are expected to grow 12.9 per cent this year to 2.2 billion euros, according to a report by IBISWorld.
According to statistics, the traffic of Irish e-commerce websites increased by 14% in 2017, while the transaction volume increased by 32% in the same period.
Wolfgang Digital, a Digital marketing agency, says the Irish e-commerce market is in an unprecedented golden age. In recent years, rising employment has boosted domestic consumer spending in Ireland. In addition, consumers’ increased trust in shopping online and improved digital experience are encouraging consumers to switch from physical stores to shopping online.
According to Wolfgang Digital, mobile devices account for a growing share of Irish ecommerce traffic, reaching 51% last year.
Ireland’s e-commerce sales are expected to grow 12.9 per cent this year to 2.2 billion euros, according to a report by IBISWorld. That’s more than double the number in 2010, when E-commerce sales in Ireland were 1.05 billion euros.
IBISWorld research forecasts that Irish e-commerce sales will grow at a compound annual rate of 11.2% to 3.8 billion euros over the next five years.
Apparel and footwear is the largest product segment in the Irish e-commerce sector and is expected to account for about 39% of Irish e-commerce sales this year, followed by consumer electronics at about 33%.
Amazon is a company with a market share of more than 5% in the Irish e-commerce industry, with IBISWorld estimating that Amazon’s share is about 5.6% of the local market, followed by eBay with a market share of 3.6%.
According to a PayPal survey conducted last year, Irish consumers preferred cross-border online stores to local ones. In addition, Irish people are also the largest cross-border online shopping group in the world, with 84% of Irish consumers on the overseas website shopping.