€8.5million leaving Ireland everyday through online shopping
eMark is a new symbol that can be used online to highlight products that are truly Irish and produced in Ireland
26 November 2013
In response to the growing problem within the Irish ecommerce industry where millions of euro is leaving the country online every day, iCompany developed eMark. The new eMark will allow online shoppers to easily identify products and their origins before purchasing.
Irish consumers are spending more than €8.5million online everyday on purchases from companies outside Ireland. 43% of Irish consumers purchased online last year and 2.6 million Irish people regularly shop online. In total €4.1bn was spent on online shopping in Ireland in 2012, up from €2.96bn the previous year howevere it has beeen shown that 75% ofthese came from companies outside of Ireland.
Many of these purchases are available from Irish retailers but these retailers are losing out online. This is negatively affecting Irish retail business and job growth in the sector and will have a particularly negative impact on potential sales for Irish retailers in the run up to Christmas.
The eMark will enable consumers to identify approved Irish online businesses before making purchasing decisions. This will result in significant amounts of money remaining in the Irish economy, as well as the increase in jobs and jobs secured within the industry.
The online retail market is set to grow to €21 billion by 2017 and therefore with the phenomenal increase in online shopping by Irish consumers, eMark says there has never been a more crucial time for Irish retailers to act and win back market share from international online retailers that are dominating this space.
According to Michael McCormack of eMark, a strong demand has grown in recent years to buy local and buy Irish and he believes eMark will provide the guarantee of Irish ownership to online consumers. He says: "Our goal is to make sure consumers are informed about what companies are Irish and in turn this should lead to more people choosing those companies with the eMark and ultimately supporting Irish businesses and jobs.’