Retail program awards 5 million euros to retailers looking to increase online sales
More than 130 merchants have been approved for a total of 5 million euros in subsidies aimed at strengthening their online presence and boosting their sales.
The funding is the third tranche awarded under the Covid-19 Online Retail Scheme, administered by Enterprise Ireland. The funded retailers cover a wide range of industries, including jewelry, fashion, sports, housewares and furniture, healthcare, electrical products and equipment.
The program is aimed at retailers who wish to reach a wider clientele. Retailers must be based in Ireland and have a physical store and pre-existing online presence, with 10 or more employees. It focuses on retailers primarily selling products to individual consumers, rather than business customers.
The average grant awarded was â¬ 37,500, covering up to 80% of costs, but funding ranged from just over â¬ 14,000 to â¬ 40,000.
Minister of State for Business, Employment and Retail at the Ministry of Enterprise, Trade and Employment Damien English said there had been a positive response from the sector.
âWe know that consumers are keen to support their local retailers with their in-store and online purchases, and these grants will help businesses truly maximize opportunities in the e-commerce market. Of course, this market is not limited by geography and we know that ambitious Irish businesses with strong online resources also aim to sell to customers all over the world, âhe said. âThe economic value of operating in the e-commerce space and its convenience for customers has been at the forefront since the onset of Covid-19 and the online retail program will help businesses improve and maximize their potential. digital sales. “
The program attracted nearly 300 applications. More than two-thirds of successful applicants are outside Dublin, with 90 retailers approved for funding.
Ross O’Colmain of Enterprise Ireland said it was clear Irish businesses are aware of the opportunities offered by e-commerce opportunities both at home and abroad for online retail. âWhether new to e-commerce or already operating a transactional website, this program aims to facilitate a radical change for every successful candidate in operating an effective online sales platform that complements their physical stores, âhe said.
âGrants from this program are used by retailers to upgrade their systems to improve their digital presence and become more competitive in the virtual marketplace. This helps expand their customer base and increase sales, with some companies reporting that they are hiring additional staff as a result.
âUltimately, retailers who invest in their online presence will be more resilient and better able to take advantage of changing market opportunities. “