Research found that e-commerce in Ireland is increasing among people aged 55-65 years old whilst all demographics opt for digital payments
Research from global payments leader Elavon reveals a strong uptake in online spending among those aged 55-65 and a rise in digital payments, including card and contactless methods, across all demographics due to COVID-19.
In a survey on the e-commerce and payment habits of 1093 adults across Ireland with Ipsos Mori, Elavon found that 37% of 55-65s spent more online than before the start of the ‘lockdown’ period in Ireland. The research showed online spending increased across all age groups as more people opt to shop from home. Across the country in July 2020, e-commerce had risen year-on-year by 16% (€311 million) according to the Central Bank of Ireland.
Elavon’s research also revealed that 59% of adults in Ireland will actively opt for contactless and card payments as their preferred method for in-person purchases going forward. Similarly, the Central Bank of Ireland shows reductions in cash use, and consequently, less cash has been withdrawn from ATMs; the value of ATM withdrawals is down 31% in August 2020 compared to 2019.
16-24-year olds were the least likely in Ireland to use cash, according to Elavon’s research, with just 12% seeking to pay using coins or notes. The most likely to use cash were 55-65-year olds at 17% – even so, this group is still three times more likely to use contactless and card payments.