Retail Ireland has spoken to Retail Intelligence about its concerns for Irish retailers on the online shopping frenzy nicknamed ‘Cyber Monday’.
The annual event, which took place yesterday, is so-called due to it being the biggest online shopping day of the year - as a result of the last payday before Christmas falling on the Friday before, and in advance of Christmas post schedules.
Stephen Lynam, director of Retail Ireland, told Retail Intelligence, “Obviously if shoppers purchase from an online retailer that does not have a presence here, that is bad for Irish retail.”
However, he also noted that a lot of domestically-located retailers are also online.
A survey by Retail Ireland last May showed that 84% of Irish retailers have an online presence and 64% intend to upgrade that presence in the next 18 months. “The majority of retailers now advertise on social media channels such as Facebook and Twitter and over half have plans to focus on smart phone applications and tablet technology,” said Lynam.
eMark, an identification symbol for Irish owned and operated ecommerce sites, estimates that Irish shoppers will spend approximately €500 million on online purchases between now and mid-December. In order for retailers to gain back some of these online sales Lynam suggests they emphasise their best assets. “The overriding imperative is to highlight the huge value available in Irish retail outlets. The presumption is that it is always cheaper online - it isn’t.”
The current level of online sales in Ireland remains below the level seen in the UK or America, although it is rising. Lynam says, “At the moment, 75% of the Irish online spend goes to retailers who don't have any Irish presence. That is not sustainable for Irish retail, but as more people start to shop online, and as more Irish-based retailers begin to trade online, their share of online spend will grow.”
© 2013 - Checkout Magazine by Genna Patterson