Over three quarters of Ireland’s online shoppers now make 10% to 20% of their monthly purchases on the internet with an average spend of €150 according to 3V Transactions Services. The Irish company behind 3V Vouchers today detailed research highlighting that young single men now account for almost two thirds of the most active online shoppers.
3V Vouchers are an easy to use online payment method, which allow customers to shop online using prepaid vouchers that have a disposable 16-digit VISA number, which the customer inputs just, like a credit card. Customers can buy vouchers from participating Payzone shops nationwide, in the same way that they currently purchase credit for their mobile phones.
Today’s research demonstrates that Irish consumers view 3V vouchers as a complimentary product to debit and credit cards with 54% of 3V customers also having a laser or credit card. Ease of use and online security continue to be compelling reasons for people to choose 3V Vouchers, however having total control of their money, especially for younger consumers has begun to emerge as the principle reason for purchasing as consumers become more familiar with online transactions.
Leisure and hobby purchases continue to be the principal drivers of online transactions. The last twelve months has seen computer accessories and music downloads make their way up Irish consumers online shopping list alongside the traditional CD’s, DVD’s, Holiday’s, Flights and tickets.
Emphasising the increase in music downloads, 3V also revealed that Radiohead’s Rainbows album has dominated the download charts so far in 2008 on its music website which launched in 2007 with Leona Lewis (Bleeding Love) and Gorillaz (19-2000) having both topped the single and video charts respectively.
Today’s research highlights the spending trends of the most active online shoppers:
- 60% are male, accounting for mainly small value purchases.
- 57% shop online once a month
- 14% admit to weekly spending sprees.
- 78% say they are ‘very likely’ to recommend 3V to others.
Looking ahead 67% of regular male shoppers intend to increase the amount of shopping done online. With better discounts, ability to compare products and prices and check product availability being the top 3 advantages for online shopping.
Commenting on today’s research, Kieron Guilfoyle, CEO of 3V Transaction Services, said, "This research continues to enable 3V to define the ever changing pattern of the Irish online shopper. 3V’s success both in Ireland and the UK demonstrates that 3V Vouchers are now being viewed as an effective method of spend management as well as an alternative to credit cards and as a deterrent to cyber fraud."
Guilfoyle continued, "More and more consumers see online shopping as part of their way of life with a recent report (Amarach’s Life Online 2008) showing that as many as 8 people in every 10 have now purchased something online. The challenge going forward will be to improve the online shopping experience by providing shoppers with secure ways to pay whilst maintaining of ease of shopping online. 3V Vouchers deliver both the security and ease of use in this environment.
- Estimates based on average shopping budget per month of a working individual at €1000.
The facility for the use of the 3V Voucher for music downloads is the sole responsibility of 3V Transaction Services Ltd and no responsibility is therefore accepted by permanent tsb in relation to the provision of such facility.
Charges terms and conditions apply. 3V Vouchers can be used by anyone aged 16 years or more who has the use of a mobile phone and email address. 3V Vouchers are issued by permanent tsb in association with VISA & 3V Transaction Services Ltd. Irish Life & Permanent plc (trading as permanent tsb) is regulated by the Financial Regulator.