Experts predicting record online spending in Ireland

Small businesses in Ireland could be set to take advantage of increased online spending this Christmas, with many experts believing residents in the country will splash €420 million on festive gifts bought through the internet ahead of the big day.

Visa Ireland says the average Irishman or woman will be parting with €227 million online in the run-up to Christmas as they look to purchase gifts for their friends and family.

Furthermore, Monday December 10th is expected to be the day where people spend the most, with internet retailers expecting a record Christmas for expenditure.

Conor Langford, vice-president of Visa Ireland, explained that Visa expects half of its transactions to be made through a mobile phone by 2020.

"This Christmas we expect a new record to be set, thanks to a combination of a continued rise in internet usage, an improvement in consumer sentiment and the security features associated with Visa cards," he explained.

Meanwhile, small firms also look likely to benefit in Dublin if plans for a new shopping centre get the go-ahead in the coming months.

Posted by Emily Smith

Last updated: 26th November 2012