Sweden is home to 10.5 million people with a total GDP of US$529 billion. GDP per capita is currently US$53,719. Sweden is ranked as the 14th richest country by the World Bank GDP per capita rankings.
Digital User Insights
There are currently 8.1 million ecommerce users in Sweden, with an additional 400,000 users to be shopping online by 2021. These 8.5 million ecommerce users will represent 76% of the total population. The average user spends US$1579 online, which will grow to US1639 by 2025.
Total ecommerce revenue across all product categories is US$12.7 billion, expected to reach US$13.9 billion by 2025. Fashion is currently the leading product category, accounting for US$4 billion market share. Electronics & Media is second, accounting for US$2.8 billion.
By 2025, fashion will still , valued at US$4.45 billion. Electronics & Media will also grow, reaching US$3 billion.
Preferred Online Payments
42% of Swedish online shoppers paid by credit card, and a further 19% used bank transfers. Payment wallets like Payson and PayPal are increasing in popularity, expected to reach 14% by 2025.
Where does Sweden buy from?
Internet and Device Usage
Total Marketing spend in Sweden has risen in recent years, as advertisers steadily invest more in digital advertising. Digital has grown to the highest market spend reaching US$4 billion.
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.