Paypal: 2m+ Irish shoppers spending onlinemoney overseas
New research by Paypal has revealed that more Irish people shop online at non-Irish outlets than in traditional retailers; 2.2m, to be exact, spending more than €7bn.
31 August 2018
The number of Irish consumers shopping at international online stores exceeds the number of domestic online shoppers in Ireland, according to new PayPal research. An estimated total of 2.2 million Irish consumers made a purchase from an overseas website in the last 12 months, compared to 2.1 million domestic online shoppers. Furthermore, Irish online consumers are the biggest international shoppers worldwide, with a larger proportion (84%) shopping overseas than all 30 other countries surveyed.
The Global Cross Border Commerce Report, conducted by Ipsos on behalf of PayPal, reveals new insights into Irish shopping habits and the areas in which Irish businesses can improve to attract more customers.
Irish online shoppers spent €2.7BN overseas in the past 12 months. Almost half-a-million people – 19% of all online shoppers – solely bought from websites outside of Ireland. Lower prices, more product variety and affordable shipping were some of the main drivers behind Irish shoppers choosing to buy from the top three import markets (UK, USA and China). Irish online shoppers were also deterred from shopping on domestic websites due to delivery fees (34%) and return shipping costs (21%).
The survey revealed that total online spend is currently growing at around 20% year-on-year in Ireland, giving local businesses the opportunity to gain a larger stake of the expanding ecommerce market. The study forecasts that Irish consumers will spend €7.8BN online this year, and up to €10.1BN by 2020.
Louise Phelan, PayPal’s Vice President for Continental Europe, Middle East and Africa, said the research shows that Irish businesses still have “muchto play for” in terms of attracting new customers. “In just two years’ time,” Phelan says, “ecommerce is going to be worth over €10 billion in Ireland. Irish businesses have a tremendous opportunity in front of them to attract more customers and increase their online sales.
“The biggest barriers discouraging Irish consumers from shopping domestically are delivery fees and return shipping costs,” Phelan says.