Everything You Need to Know About E-Commercein Sweden, Denmark, Norway and Finland 2018
Total Page:16
File Type:pdf, Size:1020Kb
NORDIC E-COMMERCE Everything you need to know about e-commerce in Sweden, Denmark, Norway and Finland 2018 NORDIC E-COMMERCE 2018 CONTENT INTRODUCTION DANISH Daniel Larsson . 3 E-COMMERCE Introduction: Henriette Høyer . 56 The Market . 58 NORDIC 03 Online payments . 74 Consumers . .. 80 COMPARISON Chapter intro: Vesa Kortteinen . 6 Payment methods . 7 01 Simpler card information . 9 NORWEGIAN Did you know? . 10 Mobile foreign trade . 11 E-COMMERCE Introduction: Johanna Tell . .. 97 Tips & Advice . 12 The Market . 99 Consumer trends . 13 04 Online payments . 115 Consumers . 123 SWEDISH FINNISH E-COMMERCE E-COMMERCE Introduction: Daniel Larsson . 15 Introduction: Markus Laurio . 138 The Market . 17 The Market . 140 Online payments . 32 05 Online payments . 156 02 40 Consumers . .. Consumers . 164 NORDIC E-COMMERCE 2018 2 DANIEL LARSSON // INTRODUCTION THOUGH DIFFERENT, NORDIC CONSUMERS ARE STILL ALIKE Although Sweden, Norway, Denmark and Finland are four different countries, they surely have one thing in common . E-commerce is growing rapidly in all of them . Nordic consumers appreciate the pace and the flexibility in e-commerce. Welcome to this year’s edition of DIBS’ can spend it on something closer to their prefer online banking. Nevertheless, consu- annual report on e-commerce in the Nordic hearts. This tendency is also visible in the mers in all countries agree that stored card countries: Sweden, Norway, Denmark and Nordic consumers’ rising interest in fast, on- details are a crucial feature when shopping The Nordic consumers Finland. Although the Nordic countries might the-go shopping on mobile devices as well online. differ from each other in some ways, they as their newfound love for shopping groce- are busy and they want certainly have at least one thing in common: ries and food online. Online food-shopping We are also looking at the development to save time, so they can E-commerce is growing rapidly in all four saves time in the consumers’ everyday life, of online shopping in foreign webshops. spend it on something countries. Sweden, Norway, Denmark and and therefore we see this particular kind of Actually, shopping from foreign websites Finland have around 19 million citizens with shopping flourish in all four countries. continues to increase in all four countries. closer to their hearts. internet access combined, and their joint When Nordic consumers want to fill their vir- This tendency is also spend from e-commerce is an impressive 70 Even though the Nordic countries resem- tual shopping carts abroad, they often look visible in the Nordic billion euro. That number speaks for itself, ble each other, there are also differences. to British, Chinese, German and American and there is no reason to think that e-com- In Denmark and Norway credit card is the webshops. It is clear that the Nordic con- consumers’ rising merce will see a downfall in the future. most used payment method. By far. Credit sumers are becoming just as familiar with interest in fast, card is also popular in Sweden, but the international shopping as local shopping. on-the-go shopping on If we look at today’s consumers, they are Swedes also enjoy other payment methods of all ages. Also the oldest consumers are such as invoice. More than 25 percent of You can read much more about the Nordic their mobile phones. shopping more and more online. Consu- Swedes consider invoice as their favourite consumers, their differences and similarities DANIEL LARSSON, mers in all four countries appreciate the payment method. Invoice is by no means in the report. We always strive to make our Senior Vice President, flexibility, the simplicity and the speed in that popular in any of the other Nordic coun- annual e-commerce report both interesting DIBS Payment Services e-commerce. The Nordic consumers are tries. The Finnish consumers have a totally and useful. This year is no exception. We busy and they want to save time, so they different favourite payment method: They hope you enjoy the report. NORDIC E-COMMERCE 2018 3 NORDIC E-COMMERCE 2018 4 01 NORDIC COMPARISON NORDIC E-COMMERCE 2018 5 INTRO // NORDIC COMPARISON 30 Nordic market size MARKET SPENDING MARKET SPENDING VESA KORTTEINEN, Product Development Director, TOTAL NORDIC SPENDING 2018 15BN EURO Paytrail 26BN EURO THE NORDIC COUNTRIES: EQUAL, YET DIFFERENT BN EURO In the grand scheme of things Denmark, Norway, 71 Sweden and Finland are on common ground: 21% E-commerce is growing in all four countries. Across NORWAY the Nordic countries, consumers agree that they shop online to get cheaper products and at the same 37% time make everyday living a bit easier. The Nordic SWEDEN consumers have high demands when it comes to webshop prices and services. Among other things this means that consumers in the Nordic countries cancel their purchases if delivery is too expensive and that 25% they prefer to be able to shop quickly and easily without DENMARK having to enter their card information. However, the four countries each have their own Population with distinctive characteristics. To Norwegian and Finnish 17% consumers it is important that webshops offer the Internet access: FINLAND payment method they prefer. If that is not the case, Sweden: they tend to cancel the purchase. Swedes tend to 7 .1 million cancel their online purchase if the personal registration Denmark: process is too long and the Danes cancel their 4 .2 million purchases if they do not trust the webshop. Also in MARKET SPENDING MARKET SPENDING terms of payment consumers are different. Swedes Norway: 3 .6 million are happy to pay by invoice and the Finns’ favourite is online banking, while Danish and Norwegian Finland: consumers love card payments. All these facts 3 .8 million 18BN EURO 12BN EURO are essential to know if you wish to sell to Nordic consumers. NORDIC E-COMMERCE 2018 NORDIC COMPARISON 6 PAYMENT METHODS // NORDIC COMPARISON 31 Payment methods used online SWEDEN DENMARK At one and the same time the Nordic con- sumers are both different and alike when Card Card it comes to payment preferences online. 78% 92% Payment by card is still widely used in Invoice MobilePay Denmark, Norway and Sweden. A stag- 50% 39% gering 92 percent of Danes pay by credit Online banking PayPal card when shopping on the Internet, while 43% 21% it is 86 percent in Norway. And although Swish Online banking the Swedes also use their cards to a large extent, they still do appreciate other pay- 37% 7% ment methods too. PayPal 78% Invoice 92% 29% Swedish consumers 6% Danish consumers For example, half of Swedes use invoice pay by card . pay by card . Masterpass Apple Pay as a means of payment. Invoice is by no 1% 1% means as popular in the other Nordic Apple Pay countries. By comparison, only 6 percent 1% of Danes use invoice when paying online. Finns are not as excited about card NORWAY FINLAND payment as the other Nordic countries. Card Online banking In Finland the most popular payment 86% 70% method is online banking. However, the use of online banking has seen a decrease PayPal Card compared to last year, where 76 percent 6% 42% 59% was paying via online banking. Invoice Invoice 7% 30% 37% In all four countries one particular tenden- Vipps PayPal cy is clear: Payment apps are progressing. 30% 29% 39 percent of Danes use MobilePay, 37 Apple Pay Installment payments percent of Swedes use Swish and 30 1% 11% percent of Norwegians use Vipps. Even 86% in Finland, where payment applications Norwegian consumers Cash pay by card . were not even part of the used payment 5% methods last year, we see this payment MobilePay 70% Finnish consumers pay method emerging. 4 percent of Finns now 4% via online banking . pay with MobilePay. Apple Pay 1% NORDIC E-COMMERCE 2018 NORDIC COMPARISON 7 PAYMENT METHODS // NORDIC COMPARISON 32 Preferred payment methods online DENMARK SWEDEN When we look at preferred payment methods among the Nordic consumers 1% Apple Pay 11% there are also both visible differences and 1% PayPal 3% similarities within the Nordic consumers. 10% Other Other PayPal Basically, each country maintains their favourites when it comes to preferred 16% 10% 33% payment methods. We see it as a sign MobilePay Swish Card that consumers, after all, prefer what they know and have tried before. 2% 25% Invoice 69% Invoice Danes and Norwegians still prefer to pay Card 18% by card when shopping online. This also 1% Online applies to 33 percent of Swedes. But the Online banking banking Swedish consumers are nevertheless more divided than Danes and Norwe- gians. In Sweden 26 percent of consumers prefer to pay by invoice, a payment met- hod that was popular among the Swedes last year as well. NORWAY FINLAND At the same time, we also see that Finland 1% 2% is a fragmented country when it comes to 13% Cash Other preferred payment methods. The Finns 8% 3% PayPal prefer to pay via online banking, followed Vipps Other 1% by payment by card. Finland is also the MobilePay 24% country where the fewest consumers Card want to pay with apps. However, much 4% suggests that payment apps will grow in 22% 56% Installment popularity among the Finns, as we have PayPal Card payments seen in the other Nordic countries, where more consumers each year prefer pay- ment apps. In 2017, MobilePay took the favourite position among 9 percent of Da- 11% 16% 39% Invoice Invoice Online nes. This year it is 16 percent. 10 percent banking of Swedes prefer to pay with Swish, and 8 percent of Norwegians prefer Vipps. NORDIC E-COMMERCE 2018 NORDIC COMPARISON 8 SIMPLER CARD INFORMATION // NORDIC COMPARISON 33 How many prefer not to enter their card information? 34 Significant reasons for cancelling the purchase The price incl.