Retail website considers US move

BUY4NOW, the Dublin- based retail-focused internet portal site, is strongly considering a move into the US market, according to a spokesperson for the company.

The move could come during the first half of next year. Whether it chooses to work on the same principles as it currently does in Ireland remains unclear given the differences between the two markets.

The company, one of the most successful e-commerce practitioners in the Irish market, has strategic partnerships with the likes of Arnotts, Superquinn, Easons, Gresham Hotels and Atlantic Homecare.

It announced this week that it has added four new partners in Discount Electrical, World of Wonder Toys, Gilbey’s Wines and Appleby Jewellers.

Customers log-on to the Buy4Now website and can buy groceries and other items online by visiting member companies’ sites. Every item bought is distributed and delivered from Buy4Now’s Dublin depot.

The company makes its money via transaction fees and through a management fee for the software hosting, licensing and development.

Buy4Now’s main business comes at Christmas time. This year the company is expecting to sell approximately €5.5m worth of goods through its portal during the pre-Christmas spending rush, with more than 350,000 shoppers logging-on.

Such sales would mark a rise of around 8% on the same period last year, when the company handled sales of €5.1m. It made its first ever trading profit last year, but its earnings of €75,000 were wiped out by development write-offs of around €150,000.

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