Steady growth projected even in mature market
The Nordic countries are considered mature e-commerce markets and online spending is projected to hold steady at 12-15%. The most popular product categories in the Nordics are Clothing & Footwear, Home Electronics and Media Products with Cosmetics & Skincare bringing up the rear. The UK, US, China and Germany are the most favored markets chosen when Nordic consumers purchase online from abroad.
Consumer Behavior – Delivery & Payment Options
Nordic e-commerce customers are quite sensitive when it comes to delivery costs. A reasonable price for delivery, or better yet, free delivery, can be an effective argument when selling to the Nordic markets. On the other hand, a very small part of the consumers expect delivery within 1-2 days. A majority are satisfied with a 3-5 day delivery time frame; as many as 25% are willing to wait for delivery 6 days or more.
The delivery preferences, like in most other markets, vary rather widely. But it’s clear that the Nordic consumers prefer delivery to their own private mailbox or to pick the products up themselves at a partner outlet or service point.
The most preferred payment options in the Nordics are debit and credit cards. However, a large part (27%) of the consumers prefer to pay by invoice after receiving the goods when that alternative is given. A good idea would be to offer as many payment options as possible.
Population: 25 million
Languages: Danish, Finnish, Norwegian, Swedish
Currencies: Danish Krone (DKK), Euro (EUR) in Finland, Norwegian Krone (NOK), Swedish Krona (SEK)
GDP: USD 1.3 trillion
Internet Penetration: 95%