Massive shift in buying patterns as more Irish people shop online than in stores
Overall spending was up 3.6% but this increase was the slowest since records began in 2014
Online shopping (stock)
There was a massive shift towards online shopping last year, a new report by Visa has found.
The eCommerce sector rose by 15.4% in the year to December 2016, while face-to-face sales dropped by 0.3%.
Overall, spending was up 3.6% but this increase was the slowest since records began in 2014.
File photo of a shopper carrying shopping bags.(Image: Dominic Lipinski/PA Wire)
The report found the clothing and footwear sector continues to struggle. Consumer spending here declined for the fifth month in a row.
But it was good news for most other sectors. Household goods rose by 4.3%, food and drink was up 2.9%, transport and communication surged by 11% year-on-year.
Visa's country manager Philip Konopik said put the shift down to the sterling exchange rate, which he said "continues to entice shoppers to purchase from UK online retailers."
Online shopping (stock)
He said: “The large shift to online shopping in the run-up to Christmas continued in December with consumers seeking to take advantage of the value on offer from UK online retailers due to the sterling exchange rate.
"Despite this there are a number of positives to be drawn from the data, with a range of sectors such as hotels, restaurants, bars and grocery retailers clearly benefiting from the festive period.
"The last quarter has seen the growth in overall consumer spending slip below 5% each month however, and it will be interesting to observe whether this trend continues into the first quarter of 2017.”
