Smartphone shopping at the click of a button is expected to help to drive internet shopping sales to nearly €10billion in Ireland by 2023.
A new study from Euromonitor International found the penetration of high-speed broadband across Ireland along with the rising trend for purchasing over the phone will see online purchases soar over the next five years.
Figures from Euromonitor International reveal Internet shopping has already more than doubled over the from just over €2 billion in 2013 to €4.8 billion last year.
The Euromonitor International study said online shopping is becoming part of life across all age groups.
“Internet retailing is becoming a norm in life for most Irish consumers, including older consumers who are becoming more tech savvy”, said the study.
The study reveals that internet retailing is expected to continue to rise with sales reaching €9.7 billion in 2023.
“High-speed broadband penetration levels are expected to improve considerably across rural Ireland, with most urban areas already having excellent connectivity”, said the Euromonitor analyst.
The study said mobile commerce will also grow at a rapid pace due to the roll out of 4G networks even further and as smartphone technology continues to improve.
“More consumers are expected to shop via their phones and while app purchases will increase, a significant number of sales will be performed via affiliate links through social media channels.”
The study found a “significant proportion” of Irish internet retail sales come from websites from the UK, with Amazon maintaining its position as the country’s leading internet retailer in 2018.
But it said there could be a lot of uncertainty for these sites with Brexit on the horizon.
“The cost of goods is anticipated to rise in the case of a hard Brexit, which would likely impact Amazon as the company positions itself as a value for money as well as speed of delivery player.
“Both these factors would be impacted by a hard Brexit.”
The study found the two major grocery retailer which offer online shopping, Supervalu and Tesco, have seen “rapid expansion in online delivery over the past number of years”.
The study noted: “Over the coming years, it is expected that more grocery retail players will invest in internet retailing.
“It has been long expected that Dunnes Stores will expand its presence online to include grocery.
“Aldi has begun selling online in other markets and may look to grow sales further as it begins to slow down new store openings.”
The report also referred to the role of social influences in digital shopping.
“Most consumers are more aware that “swiping up” on social media channels such as Instagram and making a purchase will give a commission to the person who set the link”, said the study.
“The Advertising Standard Association of Ireland has published guidelines for affiliate links, paid partnerships and sponsored posts, which most social influencers are adhering to, using hashtags such as #sponsored or #ad or #AF on their posts”, it added.
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