Nets' E-Commerce Report 2020

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Nets' E-Commerce Report 2020 The E-commerce Report 2020 Chapter name Table of contents Payments The Market Consumers Preferred payments - Austria ............................... 5 The e-commerce market in 2020 ...................... 14 Why do we shop online? ....................................... 19 Preferred payments - Denmark .......................... 6 Turnover 2020 .............................................................. 15 Enter the time machine of e-commerce ...... 20 Preferred payments - Finland ............................... 7 Distribution of spending pr. country ................. 16 Do we shop more online due to Covid-19? ... 21 Preferred payments - Germany .......................... 8 Why do we cancel online purchases? ........... 22 Preferred payments - Norway ............................. 9 Shopping abroad? ...................................................... 23 Preferred payments - Poland ............................. 10 From where do we purchase abroad? ...........24 Preferred payments - Sweden ............................ 11 Why do shoppers purchase from abroad? 25 Preferred payments - Switzerland ................... 12 What stops us shopping from abroad? ........ 26 What 2020’s online consumers showed us 27 Method Nets E-commerce report is a statistical report that provides analyses of the e-commerce market in the Nordic countries, the DACH-region and Poland. The report is based on a survey that was conducted by Kantar/Sifo for Nets from June-December 2020 with 50 interviews/week, with more than 11000 internet users in Austria, Denmark, Finland, Germany, Norway, Poland, Sweden and Switzerland. The survey is part of a larger tracking running into 2021 and Nets plans to publish more results as the number of interviews increases. The estimations of the total spending in this report are based on local calculations. For more details on those calculations and exact questionnaire phrasing please refer to the local market reports. Nets e-com / Nordic Content Manager: Line Jarl Holm Brand Movers / Project Coordinator: Maria Sterndorff, Graphic Design: Trine Münster-Swendsen E-commerce Report 2020 2 Introduction to the 2020 report In all markets, buying goods and services online has grown as Covid-19 forced consumers of all ages to move their shopping habits online. What we are seeing now is an acceleration of the e-consumer, who is here to stay. Welcome to the 2020 e-commerce report. This observe in all the countries. We find, for example, frictionless shopping experience. I’m sure your is the 14th edition of the report, but with an that convenience is the number one reason business already knows that a great checkout exciting difference. For the first time, we take our driving consumer online shopping during 2020. experience is critical to high conversion, but it’s in-depth look at e-commerce beyond the Nordics We see that pricing is a big issue for consumers really humbling to hear consumers tell us, for to include Austria, Germany, Poland and across the board, with lower prices compelling example, that they abandoned a purchase due to Switzerland. around 51% of consumers to shop cross-border missing their preferred payment option and the despite language or shipping complexities. At the hassle of registering their details. We continue to aim for depth over breadth. We’re same time, however, we notice that high shipping publishing more than 200 pages of e-commerce costs are the primary reason for the cancellation Besides sharing this survey data publicly, we facts, based on over 11,000 consumer interviews of online purchases, signalling a consumer also use it to focus our product development: I’m across eight European countries, representing demand for pricing transparency. really excited by our new European checkout with Payment preference over 150 million people and over 300 billion ‘remember-me’ functionality, one-click checkout is local and personal, euros of e-commerce spending. This document This part of the survey excites me the most. and seamless integration to a business’ webshop. and our survey shows has the highlights, but if you want to dig deeper Payment preference is local and personal, and our We’re solving for the fact that Swedes prefer to into each market and understand local shopping survey shows that it remains one of the top three enter their national id, and then see all their that it remains one of and payment preferences, we also invite you to reasons why consumers cancel online purchases. details, or that Danes hate typing in their address ” the top three reasons read our local country reports, where each Danes, for example, prefer card payments, while and email before ordering, or that in Germany, why consumers cancel market is explored in detail. Germans like to use open invoices and e-wallets, it’s all about instant short-term credit for an open but for Finns online banking prevails. What’s invoice and a cards-centric checkout really drives online purchases. What’s even more interesting is that our surveys critical here is that e-commerce businesses offer friction and frustration. I love that we’re obsessing Omar Haque, ran across 2020, giving an evolving picture of their customers the most convenient buying over these details so that our customers can Head of Group e-commerce in Nets how consumer behaviour is shifting during the experience possible, and how as local payment focus on their own business. Covid-19 pandemic. While there have been clear experts we can help businesses succeed online. winners, namely in online grocery, marketplaces I hope the data from these interviews helps or in retail electronics, the full picture will not be Yet, we also know that payments are just one you better understand European consumer known until the pandemic is over. What is certain of the many challenges e-commerce businesses expectations and be able to improve e-commerce is that Covid-19 has accelerated the digitisation are facing today to succeed. So, at Nets, we have experiences everywhere. We can’t wait to play of both consumers and merchants by 2-3 years, made it our mission to make this part as easy and our part to help raise the bar for online payments and in some countries by 5 years. frictionless as possible for both in Europe. Enjoy the report! merchants and their customers. The report clearly One of the most interesting aspects of the report shows that there are still some hurdles to Best wishes is the common online consumer behaviour we overcome to meet consumer demand for a Omar Haque E-commerce Report 2020 3 Chapter name Payments E-commerce Report 2020 4 Payments Preferred payments - Austria It’s a close call when it comes to preferred online payment methods for Austrians. E-wallets, credit card or invoice payment - it doesn’t make a difference. Although for the younger set, E-wal- lets are preferred; for the seniors, it’s the credit card. 01 Prefered payments 02 Prefered payments - by age 1 % Card Invoice E-Wallets (e.g. PayPal) 1 % 1 % 2 % Payment Cash on Installment in advance Mobile payments delivery 24 % 50 % Payment 1 % E-Wallets Wallets Don´t know 4 % SEPA Direct debit 34 % 7 % Debit card 30 % 27 % 27 % In Austria, the top three preferred online 24 % 25 % 13 % 23 % payment methods are neck and neck. While 24% Online 21 % 21 % 22 % transfer of consumers prefer to pay by E-wallets, this is 18 % up against 23% that prefer credit card and 23% 14 % invoice payment. In terms of consumer age, more shoppers between 18-29 favour E-wallets. Whereas, 27% of the 30-40 year age group and 34% of the 65-79 age group like to use credit card. 23 % Card Why is this? Young Austrians choose their form of payment out of habit, while older 23 % 18-29 30-49 50-64 65-79 Invoice Austrians cite security reasons for their chosen - YEARS OLD - payment method. E-commerce Report 2020 5 Payments Preferred payments - Denmark Card reigns supreme as the form of payment in Denmark, outpacing MobilePay and PayPal by a country mile. It’s popular across the ages, but especially among the older generation. MobilePay is the runner-up and is preferred more by women. 03 Prefered payments 04 Prefered payments - by age MobilePay PayPal Card 2 % 1 % Invoice Apple Pay 2 % 100 % Online banking 1 % Don´t know 6 % 80 % PayPal 64 % 59 % 55 % Card comes in first by some distance as the most popular payment option in Denmark and that is 25 % MobilePay regardless of age. 62% of Danes prefer this form of payment, followed by 25% who opt for Mobile- 29 % 29 % Pay and just 6% for PayPal. More women prefer 24 % MobilePay than do men, but more men favour PayPal than do women. The older genera- 12 % 10 % tion between 65-79 are over-represented in the 62 % 5 % 5 % Card 2 % preference for card, but under-represented in the choice of using MobilePay. A greater number of 18-29 30-49 50-64 65-79 the youngest consumers favour ApplePay than - YEARS OLD - the older shoppers. E-commerce Report 2020 6 Payments Preferred payments - Finland In Finland, the online banking system and card continue to be dominant in the world of online payment methods. MobilePay has yet to catch on, with the very youngest set of consumers most likely to choose it. 05 Prefered payments 06 Prefered payments - by age 1 % Card Online banking Invoice 1 % Apple Pay Cash on delivery 1 % 60 % 2 % Google Pay 1 % Don´t know Nordea Pay 2 % Installments 5 % 38 % MobilePay Online banking 41 % 42 % 37 % 10 % PayPal 34 % 31 % 29 % Online banking is the prevalent payment method 24 % for the Finns. As a payment solution, it ranks first 21 % at 38%, with card occupying second place at 26%, 13 % invoice third at 13% and PayPal at 10%. Finnish men Invoice 15 % 13 % 13 % 12 % like to use card and PayPal more than Finnish women, but more women select online banking, invoice and MobilePay than men. All age groups use the online banking system, although there is a higher preference amongst seniors than the 18-29 30-49 50-64 65-79 26 % younger generations.
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