Insights into the growth of Swedish eCommerce
Digital User Insights
There are currently 6.55 million eCommerce users in Sweden, who spend $1,607.98 USD online annually. Four years from now, an expected 7.38 million online shoppers will spend approximately $1,922.11 USD.
Dividing internet usage into age groups gives a better picture of the Swedish eCommerce market – 100% of 16-24 year olds, 99% of 25-34 year-olds and 98% of 35-44 year-olds log on daily. The older generations also log on regularly with 45-54 year-olds and over 55s showing a 93% and 84% daily penetration rate, respectively.
Total Swedish eCommerce revenue across all product categories is 9.6 billion USD, and is expected to grow to 14.18 billion USD by 2022. Fashion is currently the leading product category in Sweden, accounting for 3.3 billion USD market share, followed by Electronics & Media, which generates 2.49 billion USD in sales.
By 2022, Fashion will still be the most purchased online category, with an estimated value of 4.62 billion USD, and second favorite, Electronics & Media will have an expected worth of 3.1 billion USD.
In 2016, Sweden was ranked 3rd in the World Bank Logistics ranking.
Preferred Online Payments
37% of Swedish shoppers like to pay via invoice when shopping online.
Where does Sweden buy from?
Germany supplies Sweden with 27.9 billion USD in imports – ranging from cars to petroleum. Sweden’s other key import partners are Denmark ($10.7 billion), the Netherlands ($9.4 billion), Belgium ($6.73 billion) and China ($6.31 billion).
Internet and Device Usage
Internet penetration in Sweden is currently 91.3%, and should reach 92.9% by 2022. Smartphone penetration is a little less (86.3%), but is projected to grow to 86.9% in the next four years.
87% of online shoppers in Sweden buy via desktop, a stark contrast to the amount of smartphone (6%) and tablet (4%) shoppers.
In 2018, an estimated 2.2 billion USD of Swedish ad spend will be spent on digital advertising.
5.82 million people in Sweden are active social network users, thanks to Facebook, Instagram and YouTube, which are the leading social networks.
For more market insights, check out the eShopWorld series of blogs covering a range of emerging eCommerce markets.