Research by PayPal and Ipsos has revealed that Irish consumers are the most active international online shoppers.
The research, which looked at cross-border online shopping in 29 countries, found that 86% of Irish internet shoppers have made overseas purchases in the last 12 months, and that Irish online shoppers will spend an estimated €1.8 billion on products from international websites in 2015.
This is expected to rise by 16% to over €2 billion in 2016.
As to why consumers are choosing international vendors for their online purchases, 78% said they shop in other countries to get can get better-priced goods while 73% said that they shop abroad to purchase items that are not available on Irish sites.
Irish-based online consumers are the most likely to shop on UK sites (after UK customers themselves), spending an estimated €931 million in the UK in 2015. Almost three quarters (74%) of Irish online shoppers made a purchase on a UK site in the past 12 months, compared to an international average of 14%.
A further 38% bought an item from the United States in the last year, while 26% reported purchasing a product from a Chinese website.
Louise Phelan, Vice President of Global Operations in Europe, Middle East and Africa, PayPal, Louise Phelan commented, “Our research shows that now is the time for Irish businesses and retailers to really push their e-commerce offerings and bring revenue lost to international online sales back home.”
The research also found that whole Irish shoppers might be looking abroad, plenty of international consumers are also looking to Ireland for goods. The UK is Ireland’s biggest export market for online goods, with an estimated 1.3 million British people shopping on Irish websites in the past year.
India and Germany are the next most likely to buy Irish products online, with an estimated 500,000 from each country buying goods from here in the last 12 months. A further 400,000 French people are thought to have turned to Irish sites to make purchases in the last year.
PayPal’s research also predicts that mobile shopping will have grown by 65% in Ireland by the end of this year to €1.4 billion. Mobile shopping is also set to almost double to €2.7 billion by 2017, with 40% of Ireland’s online shoppers using a smartphone to make an online purchase in the past 12 months.
The total online spend, including mobile, by Irish shoppers, is estimated to have grown by 23% between 2014 and 2015 to €4.3 billion, with this expected to grow again by 18% to more than €5 billion in 2016.
“Growth in mobile transactions is currently running at a staggering 65%, and Irish businesses need to take advantage of this enormous opportunity,” said Phelan, adding, “By offering responsive and mobile-friendly payment platforms, retailers will be tapping into a growing and lucrative market that will be crucial to their future success.”
© 2015 - Checkout Magazine by Jenny Whelan.