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Building a profitable business is no easy task. After all, you can design your online shop to look and function the way you want it to, promote it across many channels and even drive a ton of traffic to it on a daily basis. But just because people visit your online store doesn’t mean they’ll actually buy anything.

In fact, it’s only after you have your shop up and running that the real work begins.

In that context, here are the best tips out there to help you skyrocket your ecommerce conversions so you can start generating more sales.

1. Start building trust.

Not everyone that visits your site is at the right stage of the buying cycle to convert. In fact, some may be visiting your site for the very first time and may be hesitant about making a purchase. That’s why establishing trust, in tiny increments, is the key to helping move those in the early stages of the buying cycle towards a decision to buy something.

New ConsenSys studio in Dublin will drive the future of Ethereum-based blockchain applications.

Up to 60 new jobs are to be created at blockchain player ConsenSys in a new Dublin innovation studio, which will open its doors in June.

ConsenSys is working to assemble a diverse team, and anticipates that it will have 60 people based in the Dublin studio within a year, with 70pc of the team being blockchain and full-stack engineers.

‘ConsenSys establishing a presence in Dublin is a big deal for Ireland’ Lory Kehoe

The innovation studio will be a multifunctional facility that will include a development lab, where engineers will build and deliver Ethereum-based blockchain platforms and products stemming from the company’s consulting arm, ConsenSys Solutions, as well as a centre for client collaboration.

Just 5pc of European companies are fully prepared for the General Data Protection Regulation (GDPR), according to recent research from business standards experts.

Over 1,800 respondents took part in the BSI Group study with participants from countries including Belgium, France, Germany, Ireland, Italy, Netherlands, Poland, Spain and the UK.

Despite almost all of respondents (97pc) acknowledging that next month's implementation of GDPR will affect their businesses, they are not fully prepared.

Meanwhile, one third of all respondents said that they are just over half way to compliance with the rules that come into effect on May 25.

AIB has secured an additional €122 million in new SME funding as part of its partnership with the Strategic Banking Corporation of Ireland (SBCI).

The funding is part of a special Brexit Loan Scheme designed to provide support to businesses to address the challenges posed by Brexit.

AIB has administered over €460 million in SBCI funding to Irish SMEs to date. Participation in this loan scheme forms part of a range of supports available to help our business customers impacted by Brexit.

New IE Domain Rules – March 2018 - The rules to register an IE domain are changing from mid-March, making it much easier to register. 

What is changing?

The need to show a ‘claim to the name’ when registering a new .ie domain will be removed from March 2018.  This will make registration of .IE domains much faster and easier.

You will, however, still need to prove their real connection to Ireland, and their identity, when applying for a .IE domain.

Everyone has heard of Bitcoin, but not everyone knows that it is one of many “cryptocurrencies” already in use, nor about the important technology behind this trend—blockchain. What does this mean for businesses and what should marketers know about cryptocurrency to help them prepare their strategies?

Many pundits are predicting that cryptocurrencies, and their underlying blockchain technology, will have a massive impact on marketing, finance, and commerce in the near future.

In the early 1990s, many marketers made a big mistake by downplaying the importance of the internet to their craft and to business as a whole. While it’s easy to look back now and realize how off base they were, are we making the same mistake again? Many are saying that blockchain will have as big an impact on the future of business as the internet has over the past 25 years or so. Now is the time to begin understanding these developments and contemplating how they might affect your business in the future.

It’s hard to believe there’s anything to look forward to in 2018, but as the ecommerce wars heat up, there’s at least plenty to pay attention to.

2017 asserted the dominance of ecommerce: Amazon bought Whole Foods for $13.7 billion; Google Home and Walmart partnered up to ship items to people via Google Express; internet clothing darling, Everlane, did the unthinkable and opened up its first brick-and-mortar store.

During these pivotal moments, artificial intelligence and augmented reality continued to shake up how people—and the ecommerce industry—use their phones and the experiences they seek. The good news? Most of the trends coming in 2018 are pointing towards making the consumer happier than ever.

Of the €5 billion spent by Irish consumers online last year, €3 billion went to online retailers abroad, a report has found.

The Consumer Market Monitor, published by the Marketing Institute of Ireland and UCD Michael Smurfit Graduate Business school, shows that 60 per cent of online spending in 2017 went out of the State.

Retail sales on the whole, however, were “very strong in 2017” up by 7 per cent for the year with sales of €40 billion, or levels seen prior to the recession. Although, consumers had been relatively cautious in the first half of the year, reflecting a decline in new car sales.

Increased online shopping is contributing to a growing disconnect between rising levels of disposable income and the "unspectacular performance" of a number of retail categories over the Christmas trading period.

In addition, changing consumer spending patterns are contributing to the disconnect, according to Retail Ireland.

"2017 was notable for a rapid increase in online shopping by Irish consumers," said Thomas Burke, director of Retail Ireland.

Are we facing into a retail apocalypse? The US certainly seems to be; over the past 15 years, close to half a million jobs have been lost in department stores there, while the next five years will see 25 per cent of the malls of America disappear as more and more shoppers embrace the allure of the online world.

Last week the toy store giant Toys R Us hired a team of restructuring lawyers to help it tackle roughly $400 million in debt as it struggles to compete with Amazon. The news prompted ecommerce delivery company ParcelHero to say the toy giant’s problems “reflect the overall collapse of high street toy shops as online toy sales take a monopoly of the market”.