LatCard  AS

Northern European e-commerce to hit EUR 31 bln in 2013

12/12/2013

Northern European B2C e-commerce is developing extremely well, according to data from Ecommerce Europe, the European umbrella organisation for online retailers.

The Northern Europe B2C E-commerce Report unveils that the total Northern European e-commerce economy of online sold goods and services amounted to EUR 28.4 billion in 2012 and is expected to grow to EUR 31 billion in 2013.

The same source points out that the Northern European region, including Sweden, Denmark, Finland, Norway, Iceland and the Baltic states, is now in fourth position for e-commerce size, with a 9.2% European market share. In 2012 the total B2C e-commerce economy of Northern Europe amounted to EUR 28.4 billion, a 10% growth compared to 2011. Online sales of goods and services are forecast to reach EUR 31 billion in 2013, a growth of 7.1% in comparison with 2012.

Results show that the mature online markets of Northern Europe are Denmark, Sweden, Norway and Finland. Denmark leads the way with total online sales of EUR 7.4 billion. Projections for 2013 indicate that Denmark will maintain its position with total sales of EUR 8.3 billion. Sweden and Norway rank second and third place with total sales of EUR 8.1 billion and EUR 7.6 billion in 2013 respectively. Finland is in fourth place and will reach total sales of EUR 5.6 billion in 2013. The Baltic states and Iceland are showing the lowest online sales between EUR 100 million and EUR 300 million each. However, these countries have shown the highest e-commerce growth between 20% and 30% in 2013 and are therefore upcoming e-commerce markets.

In 2012, the Northern Europe population was estimated to be 32.1 million (3.9% of Europe’s population). Internet penetration in Northern Europe (86%) has been above the European (66%) and EU28 average (76%) in 2012. The latest number of Internet-users is estimated at 27.6 million for Northern Europe. The top three tier having internet access is being lead by Iceland with 95%, followed by Norway and Sweden with 93% and 92% respectively.