Online spending last month double that of last year

Online spending in November was double what it was during the same month last year, as people were precluded from physical shopping in non-essential retail stores due to Covid-19 restrictions.

But the restrictions also appear to have given a boost to Irish retailers, with 43% of the online spend on Green Friday going to domestic-based websites rather than foreign ones.

The data is contained in the latest monthly spending report from financial technology company Revolut, and suggests that consumers began their Christmas shopping much earlier this year.

It found there was a major surge in spending on toys, sports goods and home furnishings in November compared to the same month in 2019.

Household appliance sellers and electronics stores also saw a significant year-on-year boost.

Overall, the data from over a million Revolut customers in Ireland shows that total spending during the month was up by 1% in comparison to November last year, even though most shops and the hospitality sector remained closed.

This compares to April when the first imposition of restrictions led to spending across the country falling by 30%.

54% of the spend last month was online, up from 27% in November of 2019.

Compared to October, toy sales in November were up 16%, sportswear sales increased 66% and electronics transactions rose 61%.

But in comparison to last November, spending in toy shops was up 73%, sportswear retailers 84% and home furnishing stores 62%.

Article Source: Online spending last month double that of last year – RTE – Will Goodbody

Copyright and Related Rights Act, 2000

< Back to News