Scandinavia, the region in Northern Europe consisting of Denmark, Norway and Sweden, has its own characteristics which you can find more about in this article. Read about e-commerce in Scandinavia.
The total online cross-border market in Europe 2018 was 95 billon euros, in 2019 it was 108.75 and statistics say the total online cross-border market in Europe currently represents a turnover of 146 billion euros.
Scandinavia is not only known for its beautiful landscapes of fjords, mountains and lakes, midnight sun and Northern Lights, which you hopefully have read more about in these pages. It is also praised for its good economy and high standard of living.
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Not surprisingly, IKEA has been the number one on the Scandinavian list of e-commerce companies for the last three years, but also H&M is running up in the Top 10. When it comes to e-commerce in Scandinavia, there is still a lot of unused potential, both outward and inward. Scandinavia is a bit remote area in Europe, surrounded by the Norwegian Sea, the North Sea, the Baltic Sea and the Gulf of Bothnia. Norway and Sweden are connected with Finland, while Denmark also shares a border with Germany and is connected to Sweden by the Öresund bridge.
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During the last two years, several smaller Scandinavian companies have succeeded in the European (and international) e-commerce market. The main cause of this is the impact of the COVID-19 outbreak which occurred during the beginning of 2020. Other reasons are state-of-the-art technology, functional logistics as well as inventive products, fashion and interior products in world class.
Denmark’s e-commerce had a forecast to be worth 21.45 billion euros by the end of 2020, Sweden projected 12 billion dollars Norway is the 23rd largest market for B2C e-commerce with a revenue in 2020 of 5 billion euros, placing it ahead of Belgium but behind Austria.
67% of Europeans appreciate the convenience of international e-commerce. Brexit and the spread of the COVID-19, confirm a bright future for cross-border e-commerce in Europe – and Scandinavia.
E-commerce in Scandinavia, written by Tor Kjolberg
Feature image (on top): Andrea Piacquadio / Pexels