18.04.2016 by Benjamin Kircher
Country of the month: Sweden
Interested in furthering your knowledge of selling online in other countries? If so, make sure that you don’t miss out on our "Country of the month", a brief country guide where you will find the most updated eCommerce information and useful tips for online merchants. Today we turn our attention to Sweden.
The ecommerce sector within Nordic countries is experiencing a strong period of growth. It has been reported that a total figure of €17.1 billion was reached in 2015, meaning an approximate increase of 15% over last year’s figure. This growth within the Nordic countries has been headed by Sweden.
Sweden holds one of the highest internet penetration rates in the world with 93%, alongside being one of the largest shopping groups amongst the Nordic countries with 7.4 million e-shoppers. Surprisingly, although having a collective online spend of €6.5 billion in 2015, the average expenditure of each Swedish e-shopper is much lower than other Nordic countries like Denmark (€2721), Norway (€2608), and Finland (€2145).
Swedish consumers lead the way in Europe when it comes to cross-border online purchasing. The most popular purchased categories are books, clothing, and home electronics; with the common destinations to buy from are the United Kingdom, the United States, Germany and China.
Understanding the payment preferences in a country is a vital component to being successful in that country. When given the choice Swedish consumers prefer that prices are shown in their own currency; the Swedish Krona. More so, the use of debit and credit cards is increasingly becoming a more popular form of payment in the country, whilst the use of PayPal (or its Swedish version, Payson) is still to be established as a standard payment method.
Tips to online merchants
If you are an online merchant looking for cross-border opportunities, you should be aware of certain points:
- They ensure speedy delivery. Particularly because of its geographical proximity means the wait should only be a maximum of 3 to 5 days until the arrival of their goods.
- Quality is emphasized in Sweden - and no overcharge. Can you guarantee this with your store?
- Sweden consumers tend to be critical, not always loyal customers and the competition never sleeps. Can you provide customers with products that are unique?
- Do you offer secure payment?
- Sweden also prefer linguistically adapted online shops
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