Ireland is one of the most advanced countries in Europe when it comes to adopting global tech trends. While all other sectors in the country have upgraded themselves capitalizing on the latest trends cashless economy, how could e-commerce stay left behind?
The spending habits of Irish consumers have observed huge changes in the past couple of years, especially in the post-pandemic times. Irish consumers are now convinced that the best mode to shop for their best products is to spend some quick bucks online. Both online e-commerce and cross-border shopping are on the rise and store owners are quickly pursuing reliable cashless payment service providers like NPI to install online payment systems in place at their outlets.
According to 2019 J.P. Morgan Global Payment Trends, the annual amount of €2,708 (US$2,925) spent by an average Irish consumer stands third amongst the European Union nations exceeding Norway and the United Kingdom’s customer base. How huge is the online e-commerce market in Ireland and where should your business be heading in the near future if you haven’t gone online yet?
What are the Top e-Commerce Trends in Ireland?
Thanks to the Pandemic, the e-commerce business has seen its biggest growth and has embraced new methods of payment where more customers are inclined towards paying online than ever before. According to the Irish Examiner, the amount spent on textile, garments, clothing, and footwear by Irish customers has multiplied eight times during and post the pandemic era.
These are some seriously huge numbers. They mean a huge deal for service providers and business owners. While as a business owner, you will always want to stay on top of your customers’ minds, knowing their spending habits will help you align your business with the latest payment trends so that your sales convert effortlessly. As a result, you will require a card payment service provider or a digital payment service and if you are an Ireland-based business, you cannot get anything better than NPI.
What are Ireland’s Top Payment Methods?
- Cards: Cards are without a doubt the most popular method in Ireland. On average, an Irish citizen uses one or two cards for their payments. With growing cashless economy trends, cards are likely to continue their dominance in payment methods.
- Digital Wallets: The second most popular payment method after cards in Ireland are digital wallets. On a rough estimate, digital wallets make up approximately a quarter of all the payments made online in Ireland.
- Bank Transfers and Cash: With cash disappearing from the transactions, bank transfers make up only 8% of total Irish commerce payments. So, if you are planning to set up your business in Ireland, these payment method trends should be on the top of your mind.
Go online with your business and find your best E-Commerce Success in Ireland. While you might have hundreds of E-Commerce competitors doing business in Ireland, what will create the difference is who has got the best payment method. With NPI you won’t just get your hands at an all-in-one payment solution in Ireland but also will be able to attract a better and bigger customer base with a faster, more efficient, and more reliable online payment service. NPI just makes it easier for your E-Commerce store to reach out to millions of customers by accepting cards and local alternative payments worldwide.