I know for many online retailers times are difficult. If I compare our March 2009 to March 2010 figures, we see a massive rise in the monthly values processed – from €484m to €737m. If we take out our new business that came during the year, our Irish based businesses saw a net increase of €50m year on year. However 53% of our Irish clients saw their value fall (down €36m) and 47% saw the values increase by €86m. So those that are doing well online are doing very well.

A smaller number - 47% - of our UK clients on the other hand saw their value fall by €13m. So I guess in general terms we concluded that a smaller number of our UK clients were impacted and this impact was less severe.

But that’s not necessarily all bad as the UK online market offers Irish online retailers an excellent “near-commerce” opportunity. I often recommend to clients that they should look at the UK and Ireland as the one market. Two regions fine, but the one market as processes, consumer behaviours and practices are very alike.

Colm