'Trustmark' to lift cross-border retail
A new 'Trustmark' designed to give online customers overseas confidence that they are buying from legitimate websites is being launched for Irish retailers.
Retail Excellence Ireland (REI) - an industry body that represents over 1,600 retailers - launched the 'Trustmark' along with Brussels-based eCommerce Europe. REI says it will promote cross-border trade for Irish retailers looking to do business in the EU.
The European online retail market is estimated to be around €600bn this year, but Irish retailers have struggled in many cases under pressure from bigger UK brands, and since the Brexit vote last June because of currency volatility.
Retail Excellence Ireland said the impact of Brexit has highlighted the need for retailers here to diversify.
"We found that significant challenges exist for Irish retailers selling in Europe as consumers in other countries may not be familiar with an Irish brand and so maybe wary of purchasing on that website," said Lorraine Higgins, head of public affairs and communications at Retail Excellence.
"With the advent of Brexit and all the uncertainty it brings, it is important that Irish retailers look beyond traditional markets and seek out new ones," Ms Higgins stated.
Research suggests two-thirds of consumers in the EU prefer to use a website backed by a recognised trustmark before completing an international purchase. "Whilst the Trustmark increases consumer confidence because it ensures a safe environment for online shoppers, it also indicates to the consumer that the website is compliant with the latest Irish and EU legislation and satisfies legal audits conducted by our partner legal advisors," Ms Higgins added.