Google: Internet buying still strong despite global financial crisis

Google have said that online purchases are still strong despite the current economic downturn.

Ronan Harris, Director of Online Sales and Operations at Google said that those companies who exploit their internet presence will be best positioned to take advantage of the upturn when it comes.

He was speaking at an advertising summit at Google European headquarters in Dublin today which heard that while high street retailers are being hard hit in the current slowdown, online purchases remain strong.

Mr Harris said that early signs show that high street retailers are being harder hit in the current slowdown, while online purchases continue to grow.

Mr Harris said: “Why? Because consumers are empowered and enabled by the wide penetration of the internet. Users have the tools to research, investigate, share opinions, compare and purchase.

“Consumers are migrating their buying power to the internet and successful companies are the ones who are positioning themselves to secure this business.”

“The last time there was a major slowdown we did not have many consumers online. But today access is ubiquitous and there are no borders. Smart businesses are recognising this and are continuing to invest where the growth is. They are creating web experiences for their customers that are as well thought out as their high street offerings. They are using a range of channels (TV, radio, print and online) to communicate a single message and are analysing online buyer patterns and behaviours to target their offering more effectively. They are exploiting this expanding marketplace and will be stronger when the upturn hits the high street."

According to a global survey conducted by The Nielsen Company earlier this year, over 85% of the world’s online population has used the internet to make a purchase and more than half of internet users make online purchases at least once a month.

With 1.6 million people in Ireland now on the internet, some sources estimate average daily Irish web sales now exceed €12m.