Insights into the growth of Denmark eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled
Denmark is home to 5.7 million people with a total GDP of 295 billion USD. GDP per capita is currently 53,104 USD and expected to reach 64,231 USD by 2021. It’s ranked as the 13th richest country in the world by the World Bank’s GDP per capita ranking.
Digital User Insights
There are currently 3.4 million eCommerce users in Denmark with almost 400,000 new users shopping online by 2021. There will be 3.8 million eCommerce users by 2021, this will represent 80% of the total population. The average user spends 1,315 USD online, which will grow to 1,814 USD by 2021.
In 2016, older male online shoppers outnumber their female counterparts, however under the age of 35 this is reversed with female online shoppers outnumbering their male counterparts. Younger generations do not shop online more than older generations, which is unusual for an ecommerce market.
In 2021, the ratio of male to female shoppers is expected to remain the same, with new shoppers spread across all age groups. New shoppers are projected to spread evenly over the various age groups.
Total ecommerce revenue across all product categories is 4.5 billion USD, expected to reach 6.9 billion by 2021. Fashion is currently the leading product category accounting for 1.4 billion USD market share. Electronics is the second leading product category accounting for 1.3 billion USD.
By 2021, fashion will continue to lead the charge, valued at 2.3 billion USD. Electronics will remain in second place, reaching 1.8 billion USD.
Preferred Online Payments
Denmark’s population use a variety of online payment methods with most shoppers choosing to use credit/debit cards online. 63% of payments were made via local payment card VisaDankort, with 18% of online payments made using other credit/payment cards. 5% of shoppers used Paypal, and a further 5% used online banking.
Where does Denmark buy from?
Germany supplies Denmark with 20.3 billion USD of its imports. Other key import partners are Sweden (11.7 billion USD), the Netherlands (7.6 billion USD), China (7.01 billion USD) and Norway (5.42 billion USD).
Internet and Device Usage
Internet penetration in Denmark is currently at 89.9%, and should reach 93.4% by 2021. Smartphone penetration is 72.1% and is projected to grow to 93.4% by 2021.
83% of online shoppers in Denmark shop online via desktop. 9% of shoppers make purchases via tablet, and just 4% made their most recent purchase via smartphone.
Total Marketing spend in Denmark has dropped in recent years, as brands move away from traditionally expensive advertising like newspapers to digital options. Digital currently represents the biggest market share accounting for 775 million USD of advertising spend.
Denmark’s social media penetration is expected to reach 60.7% by 2021. Popular networks include Facebook, LinkedIn, Snapchat, Instagram and Twitter. Facebook leads the charge, boasting almost 3.5 million active users.
For more market insights, check out the eShopWorld series of blogs covering a range of emerging eCommerce markets.
*Insights derived from eShopWorld data, Statista, WorldBank, OECD and other industry sources.