NetStore.ie is a new online department store focusing on getting Irish retailers online and competing with the larger high street UK names that are dominating the marketplace here in Ireland. Online retail is worth about €3bn a year and growing by 20 per cent year on year so the news that the Exchequer is down by some €300 million in VAT may come as a surprise to some people.
NetStore is aiming to level the playing field for Irish retailers and to get them selling and competing online with these high street monoliths. The migration from traditional bricks and mortar retail outlets to online is a difficult path for some retailers. Their margins are tight and profit has been squeezed over the last five years, in short, there is nothing left in the kitty to invest. The strategy is simply protectionist. NetStore has developed a free turnkey solution to get Irish retailers online. NetStore will provide the website, shopping cart, payment processing, and shipping as well as marketing activity. NetStore simply make a margin on the sale with no entry or subscription fees.
NetStore is also very consumer directed and they have a strong focus on consumer loyalty. NetStore have introduced some new concepts to Irish retail to help people find the products they need and where possible through an Irish retailer who may not be online at the moment. Challenge NetStore is an online personal shopping service. You simply contact NetStore through their website and they have a team of go-getters who will source the goods or service that you are looking for; they will then place it online for sale.
Club NetStore is introducing the power of group buying to individual consumers in Ireland. If you are part of a large multi-national or public service group such as the Gardaí, you are already enjoying group discounts on a whole manner of things. However a large proportion of us are not enjoying these discounts. By bringing everyone together NetStore will start negotiating with utility, financial services, holiday, and general retail providers to get the best deals and group discounts. Effectively consumers are better and have stronger purchasing power together.