Ireland is known as a top global tech hub, and the nation’s eCommerce sales continue booming.
Irish consumers actively shop online and are willing to spend big for the right products.
Ireland’s Central Statistics Office (CSO) revealed that 79% of internet users purchased goods or services online, with more women (83%) than men (75%) shopping online. Younger age groups were also more inclined to shop online, with 90% of internet users aged 16-44 using this feature.
The annual spend of the average Irish online consumer is the third-highest amount amongst European countries at EUR2,708 (US$2,925), an amount only exceeded by consumers in Norway and the United Kingdom (JP Morgan).
What are the Top Ecommerce Trends in Ireland?
Consumers continue to embrace buying goods and using new payment methods online. Spending on clothing, footwear and textiles sales increased nearly 8X since the pandemic began. (Irish Examiner).
The total increase in online spending is estimated to have grown 30-40% since 2019, with the estimated market value ranging widely from $4.5 to $7.9 billion, or roughly €4 to €7 billion. (U.S. Department of Commerce). This growth is anticipated to continue due to strong internet accessibility among Irish households (92%) and smartphone usage (90%). (USDOC).
Ecommerce in Ireland is Cross-Border and Mobile-First
Around 84% of Irish online consumers are estimated to have shopped cross-border, nearly twice the average rate across Europe (Ascendia). Mobile purchases are an essential part of Ireland is NOT one of the countries covered in the new European payments guidecross-border ecommerce. Nearly half of all ecommerce purchases in Ireland were made via smartphone, for an estimated total of EUR4.1 billion in 2020 (JP Morgan). From 2014 to the present, the percent of Irish businesses with a mobile-optimized website has surged from 27% to 76% today (JP Morgan). Irish merchants are accelerating the shift to mobile commerce, as they invest more in these capabilities.
What are Ireland’s Top Payment Methods?
- Cards: Cards are the most popular payment method in Ireland. The average consumer in Ireland has one or two cards. Irish consumers use credit and debit cards for six out of every ten online purchases, with Visa and Mastercard leading the way. Cards are unlikely to lose their spot as the top payment method in Ireland and are anticipated to grow to keep growing to 69% share of the payments market by 2023 as bank transfers and cash decline in use.
- Digital Wallets: Another popular payment method in Ireland are digital wallets, with Paypal the dominant Irish ewallet. Digital wallets are set to make up 22% of the payments market by 2023 (JP Morgan).
- Bank Transfers and Cash: Bank transfers make up 9% of Irish commerce, while cash payments make up 7%. Ireland uses the euro as its cash currency. These payment methods are commonly used, particularly by older consumers, but are anticipated to keep declining in popularity (JP Morgan).