Author: Liz Fulham, Founder & CEO, Sales Optimize
While the US, UK and China are ecommerce giants by virtue of their size, smaller countries like Ireland are holding their own – albeit growing at a much smaller rate.
It is at times easy to forget that while the internet may be 30 years old, it is only in the past 16 years that major brands have begun to leverage the revenue opportunity that eCommerce presents. Online shopping is still in it’s infancy as less than 10% of retail sales occur online. However this infant is now maturing nicely with global sales currently on target to exceed $1.9trn this year rising to $2.3trn in 2018.
There is incredible opportunity for expansion and continued growth as the below infographic illustrates:
Where there are opportunities, there are also challenges. Two of the largest are:
One of the most beautiful things about the internet is the ridiculously low barrier to entry. Almost nothing. And the value to access is astronomical. Amazon, Etsy and Ebay were built on the shoulders of the internet, whilst new online retailers are hidden from view behind page two. Ireland offers a great community of business leaders, entrepreneurs, researchers &, government agencies. Maybe we should become the test case for a new internet & shopping search engine that is built for everyone.