Updated: May 11, 2022
It is hard to ignore the impact Covid-19 has had on Irish Business.
A recent report* looks in detail at how Irish consumers attitudes and behaviors have changed in response to the pandemic.
These are the key points from the report, that could be of interest if you have not taken your business online, or are still thinking about it.
The number of SMEs that have invested in their online presence has increased massively, from 21% in 2020 to 55% in 2021. The majority recognise that the future of their business depends on adding some kind of digital offering.
30% of SMEs sell a physical product via an online store, up from 25% in 2020. Of these, the vast majority—almost 9 in 10—have noticed an increase in their sales numbers since the Covid crisis began.
78% of SMEs that have invested in their online services say they are busier than or as busy as before the Covid crisis, up from 46% in 2020. SMEs opinions on consumer purchasing habits are changing; more believe that consumers will do the majority of their shopping online.
61% of SMEs said online services will be more important to their business in 2021 than they were in 2020. A greater number of SMEs now accept that their business model is likely to be permanently changed by the pandemic.
The report also highlights the 3 key reasons that people struggle to take their businesses online
31% lack of time
21% lack of expertise
19% lack of equipment or resources
The data is clear: SMEs that invest in a website and e-commerce reap the rewards. Those that have put money and time into digital have generally fared better than those that have not.
An increasing proportion of businesses recognise that a digital channel is key to their survival while the pandemic continues. Consumers are spending more online, and SMEs with an online store have benefited. 86% say they have experienced an increase in sales or sales enquiries from their online store since the pandemic began.
If you would like to read the rest of the report you can see it here.
If you are struggling with time, expertise or resources than maybe I can help. #thenonscarytechylady.
*The .IE Tipping Point Report 2021: Irish e-commerce and digital business in the Covid vaccine era, in partnership with Digital Business Ireland assessed the attitudes and responses to the Covid-19 pandemic of 1,000 Irish consumers and 500 retail and consumer-facing professional services SMEs.