Insights into the growth of Norway eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled
Norway is home to 5.2 million people with a total GDP of 387 billion USD. GDP per capita is currently 72,046 USD and expected to reach 77,862 USD by 2021. Norway is ranked as the 4th richest country by the World Bank GDP per capita rankings.
Digital User Insights
There are currently 3.1 million eCommerce users in Norway, with an additional 250,000 users to be shopping online by 2021. These 3.35 million eCommerce users will represent 75.7% of the total population. The average user spends 2,144 USD online, which will grow to 2,785 USD by 2021.
In 2017, males outnumber female online shoppers. Males between the ages of 35-44 account for the biggest market share, representing 420,000 online shoppers. The second biggest category of online shoppers is men aged between 25-34, accounting for 400,000 online shoppers.
In 2021, the ratio of male to female shoppers is expected to remain the same across most age groups. Men aged 25-34 will become the biggest group of online shoppers.
Total eCommerce revenue across all product categories is 6.7 billion USD, expected to reach 9.3 billion USD by 2021. Fashion is currently the leading product category, accounting for 1.9 billion USD market share. Toys, Hobby & DIY is second, accounting for 1.7 billion USD.
By 2021, Fashion will still lead the charge, valued at 2.7 billion USD. Toys, Hobby & DIY will also grow, reaching 2.4 billion USD.
Preferred Online Payments
66% of online shoppers used credit cards, 15% used, 9% used Cash on Delivery and 7% selected a bank transfer as their preferred method of payment.
Where does Norway buy from?
Sweden supplies Norway with 11.4 billion USD in imports. Other key import partners are Germany (10.9 billion USD), China (8.23 billion USD), the United Kingdom (5.86 billion USD) and Denmark (5.53 billion USD).
Internet and Device Usage
Internet penetration in Norway is currently at 87.4%, and should reach 87.6% by 2021. Smartphone penetration is 76.7% and is projected to grow to 85.9% by 2021.
83% of online sales in Norway were made via computer. 8% of purchases were made via tablet, and 4% via smartphone.
Marketing spend in Norway has dropped across most mediums, with advertisers increasingly turning to digital solutions to help grow their brands. Digital has grown to by far the highest market spend reaching 1.2 billion USD. Television is the second highest market spend accounting for 640 million USD.
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.