Online shopping is widely considered a slow burner in Ireland, but a report released today by Virgin Media would there are some misconceptions about the online shopper in Ireland.
What is the Virgin Media Digital Insights Report
Formerly carried out by UPC, this is the third report of it’s kind. The report captures a snapshot of the average online digital user. Naturally, as it’s created by an Irish broadband and TV provider, there is a certain spin put on the report. With that said, it has been completed by a third party company, Amarach, so there is no reason to doubt the findings.
The online shopping opportunity in Ireland
Underestimate online shopping in Ireland at your peril. Since 2014, the average monthly purchase amount per month has increased from €71 to €80. The report outlines an expectation that Irish online shoppers will almost double their spend by 2021, with 10% shopping weekly and 60% returning monthly.
Irish businesses are missing a huge chance to make easy money. 41% of Irish shoppers are buying from Irish sites with the rest going to foreign sites seeking better value. 53% of Irish shoppers bought online as they were unable to find particular items in local shops. 72%, unsurprisingly, believe shopping online provides greater value. Interestingly, 60% of shoppers said they would buy locally should bricks and mortar stores be able to provide the same range and value.
Let the internet entertain you
Remember when missing your favourite show meant you actually missed it? That was linear TV viewing. We now live in a world of on-demand entertainment. According to the report, by 2020 nearly half of the 24-hours worth of entertainment consumed within the EU will be time-shifted.
On-demand is taxing on internet providers. Over the past few years, the majority of providers are been improving the internet infrastructure. Unfortunately, many rural areas remain unchanged. Demand has surpassed the internet provided as fewer users believe their internet meets expectations
…and how advertising works these days…
Advertising is extremely targetted these days. Companies can benefit from your online footprint by targeting you with more relevant advertising than ever. The result is more profit for them and more relevant products for you. Online advertising is only going to grow because let’s face it, when was the last time you didn’t change the channel during the break?
Still, online advertising is not without its own problems. 61% of users are aware of adblocking while 32% actively block ads. This is likely to grow as users realise the power is really in their hands these days. You choose whether or not you see ads, and when you watch your favourite shows.
The Irish online shopper has rather unfairly been painted as a bit of a neanderthal. The Virgin Media Insights Report paints a very different picture. Irish online shoppers are craving value and online stores while they want to consume more information than ever. The real question to emerge from this report is whether or not Irish businesses will recognise the potential and commit.