Irish firms urged to cash in on €4bn online market

With Monday set to be the busiest online shopping day of the year, Irish businesses have been urged to get online to capture some of the sales being lost abroad.

“Cyber Monday” is a marketing term used since 2005 to encourage people to shop online on the Monday after the US holiday of Thanksgiving. It has led to sharp increases in online shopping in the years since its introduction.

Some €4bn is spent by online shoppers in Ireland each year. According to Vol Pigrukh, co-founder and chief executive of pricing intelligence firm Profitero, the fact that €3bn of this goes outside the country should be encouraging more retailers to get online.