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Summary
- PayPal study revealed that 90 per cent of Irish online buyers shopped from international websites.
- Irish online buyers are expected to still favour international sites in the post-vaccine world.
- Buyers resorted to foreign websites for better pricing, variety, and availability.
The pandemic and the subsequent lockdowns have significantly impacted consumer behaviour. Most people are resorting to online shopping from basic needs to ordering a car. In an interesting study by the US-based online payment gateway facilitator PayPal, it was found that nearly 90 per cent of Irish consumers have shopped from e-commerce websites outside of Ireland in the past one year.
Also read: PayPal caps off 2020 in style with record numbers
It was also inferred from the study, which involved more than 1,000 consumers in Ireland that around 80 per cent of shoppers ordered stuff from the UK based online retail websites last year. Also, Irish buyers gave a significant amount of business to the US, European, and Chinese retailing websites last year. On an average, Irish buyers spent €385 online with retailers outside of Ireland, according to the study. Surprisingly, this amount was a bit higher than the average amount spent by Irish consumers on domestic websites during the same period.
The study revealed the major reasons for buying from retail websites outside of Ireland. Most respondents resorted to foreign websites for better pricing, variety, and availability. Meanwhile, a few Irish buyers shopped from domestic websites to support the domestic economy and faster delivery options. In the approaching months, many Irish consumers are expected to return to foreign websites to choose from a wide array of products and at a competitive price, according to the survey.
Copyright © 2020 Kalkine Media Pty Ltd.
The pandemic has accelerated the demand for online shopping. In a brick-and-mortar arrangement, customers have the option to pick and choose. However, on the online platforms, retailers need to keep variety within a particular product segment to gain traction as competition is fierce. The Irish businesses need to boost their digital offering in line with the competition even in a post-vaccine world, due to lifestyle change caused by pandemic-induced lockdowns.
But all is not lost for Ireland’s economy. US-based multi-retailer Amazon Inc has announced its formal entry in Ireland. The US-based online retail giant has spent nearly €2 billion to build a network of data centres around the greater Dublin area over the past decade. This might change the way Irish buyers shop today and near future.
