The UK’s exit from the European Union means it no longer benefits from the single market. Its exports, excluding those from Northern Ireland, now face taxes like any other goods imported in to the EU from other parts of the world.
88% of online shoppers buy from non-Irish sites – PayPal
The study involving more than 1,000 consumers in Ireland found that almost four in five (78%) of those who bought from websites outside of Ireland spent with UK retailers during this time.
43% bought from websites based in Europe, while 38% spent with websites based in China, and 21% purchased products from US websites.
65% of respondents said their main reason for buying outside of Ireland was better pricing, 51% said more choice, while 46% said greater availability. The survey also revealed that over half of Irish consumers expect to buy more products than before from international retailers over the next year.
Joachim Goyvaerts, Director of Ireland and Benelux for PayPal, said the research shows that demand for online shopping has never been greater.
Consumer caution urged over fake ‘Irish’ websites post-Brexit
Consumer experts have warned online shoppers they should not be duped by fake ‘.ie’ websites, or they could face additional taxes and duties on what they buy.
This comes post-Brexit and a month after the EU-UK withdrawal agreement became operational. It warned not all ‘.ie’ websites are hosted in Ireland, resulting in Irish online shoppers being hit with additional fees when their purchases were delivered to their doors.
“‘.ie’ doesn’t guarantee that the trader is based here in Ireland,” ECC Director Dr. Cyril Sullivan told RTÉ’s Morning Ireland.
Volume of goods into Irish ports from UK down 50%
A month after the end of the Brexit transition period, authorities say the volume of goods coming into Irish ports from the UK remains at around 50% of normal. Concerns over post-Brexit paperwork, as well as delays at ports and changes in supply chains, have also led to a 100% year-on-year increase in the amount of freight trade moving directly between Ireland and continental Europe.
However, volumes remain far lower than normal due to pre-Brexit stockpiling, re-routing of goods onto direct routes between Ireland and the continent, lower demand for some items due to Covid-19 restrictions and the additional checks.
The Irish Road Haulage Association warned the Government and European Commission that unless there is a loosening of the regulatory requirements, there will be a complete standstill in trade between the two islands.
Irish banks ‘latecomers’ on digital services – Deloitte study
Irish banks lag behind their global counterparts when it comes to their digital services offerings. This is according to a study of banks globally, carried out by professional services firm, Deloitte, which is based on input from 5,000 customers of around 320 financial institutions worldwide.
The Digital Banking Maturity Study places Ireland in the last of four categories of digital service offering, while Ireland is still considered a digital ‘latecomer’, banks here are moving closer to the third category of ‘adopters’.
Banks in Turkey, Spain, Poland, and Russia maintained their position in the first category of ‘digital champions’, according to the study. Yvonne Byrne, Deloitte Partner and Digital Financial Services leader, said there was an opportunity for Irish banks to make huge strides with their digital services.
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