.IE Tipping Point Report 2022

.IE Tipping Point 2022: Irish e-commerce and digital business in the post-Covid era | 6 4. Sustainability investors will win hearts Sustainability, clean energy and large-scale international moves towards net zero emissions will dominate corporate and government agendas throughout the 2020s. Much of this will be driven by grassroots activism. Many consumers are aware of the wastefulness and environmental damage inherent in global retail supply chains, and the majority are willing to either reduce their consumption or spend extra to ensure change. Almost 80% of Irish consumers say that it is ‘very’ or ‘somewhat important’ that the product or service they order online is produced and delivered in a sustainable and environmentally friendly way. Among younger Millennials, this figure is an even higher 90%. However, just 4% of SMEs said that providing some kind of digital proof to consumers of a sustainable or environmentally friendly supply chain was a priority digital investment in the next five years. In the face of such overwhelming consumer support for sustainability, this is a clear missed opportunity for many SMEs. Because Irish SMEs are more likely to operate on a smaller, less globalised scale, they have an inherent advantage in this space versus international retailers. Business owners can prove their sustainability credentials by partnering with local producers, collaborating with environmentally friendly suppliers, and creating content that brings these stories to life. Furthermore, new technologies like blockchain will allow businesses to transparently prove the provenance and supply chain journey of their products and services. 41% use cash for purchases under €10 16% do not use cash at all 35% of SMEs with 1-5 employees only accept cash Preparing for the post-Covid era [continued] SME payment type acceptance 50% Contactless card 33% Chip-and-pin card 30% Contactless device 29% Digital wallet 25% Cash only 17% No physical store Base: 502 SMEs Consumer cash usage since Covid 36% Significantly less often 26% Slightly less often 32% The same as before 3% Slightly more often 3% Significantly more often Base: 1,000 consumers