What is Candid Corner
Title : Irish Businesses: Time To Get Smart About Payments
Author : Anthony Rafferty
Company : PayPal
Irish eCommerce Sites Vs. Those Abroad
Online commerce is a huge market bursting with opportunity, but unfortunately Irish shoppers are spending a lot of their euros abroad. 86% of Irish online shoppers (1.9 million people) made overseas purchases in the past 12 months—making Ireland the world leader for international online spending. Last year, that amounted to €1.8 billion being spent on international websites. Why? Because the Irish market simply doesn’t offer the same level of choice as that offered on international websites.
Growth of the eCommcerce Market
Global research company, Ipsos, recently carried out extensive research on behalf of PayPal into the shopping habits of Irish online adults and the results were a real eye opener. The research found that online spending in Ireland grew to €4.3 billion in 2015 – that’s a 23% increase on the previous year. This is expected to exceed the €5 billion mark this year.
The world of shopping is undergoing massive change. Gone are the days when we queued for concert tickets in the pouring rain for hours on end, or viewed trips abroad as an excuse to visit our favourite shops. Today, thanks to the internet, everything is at our fingertips. It has transformed how people shop and increasingly, Irish consumers are choosing convenience by shopping online and on mobile. Nowadays, convenience is king.
The Importance of Mobile Responsive Websites for eCommerce
The ability to provide anytime, anywhere shopping is therefore essential for Irish businesses looking to capture a larger slice of the online action.
Much of the rapid growth in online spending is happening on mobile. It’s not just a trend; it’s the future. Right across the globe, smartphones and tablets are driving more and more revenue—and Ireland is no different. Of the €4.3 billion spent online last year, €1.4 billion was through mobile shopping. By 2017, that will almost double to €2.7 billion.
The fact that more Irish businesses aren’t tapping into this market is surprising. There’s a mobile revolution taking place and Irish companies must respond. Businesses should be building responsive websites with the consumer experience in mind—and that means not just incorporating mobile, but embracing it. If we don’t our consumers look elsewhere and we lose out.
Consumer Power & Business Opportunities
The willingness of Irish consumers to look overseas in search of better choice or bargains is reflective of a global trend. Digital technology has given consumers massive power: our demands have transformed how we get information, consume goods and how we shop. Now, we have the ability to make purchases anywhere, any time and any way. It’s a huge business opportunity and Irish businesses and retailers must invest in their online presence to capitalise on a fast growing market, both at home and abroad. If they don’t, they will miss out.
At PayPal, we make it as easy as possible for businesses to go mobile by providing on-the-go shoppers with a faster, simpler checkout experience—regardless of what device they are shopping on.
The Importance of Customer Convenience
The fact is that people gravitate towards convenience. We’re living in a world where people can meet their significant other with the swipe of a finger, or call a cab at the touch of a button—and they want their shopping experience to be just as easy. Developments like fingerprint technology are making it easier and faster for consumers to complete transactions on their mobile devices. PayPal is working with a number of smartphone providers on initiatives that allow payments at your fingertips—literally. Our vision is to continue to facilitate faster purchases; making it easier than ever to pay anytime, anywhere, and on any device.
About The Author:
Anthony Rafferty is the Director of Merchant Services at PayPal. PayPal allow seamless eCommerce integration for your online stores.READ MORE
By : Dr. Bredan Richardson
University College Cork Lecturer
By : Brian O' Mara
By : Anthony Rafferty
By : Martin Adams
By : Shane O’Leary