Payments and e-commerce in Denmark

Discover how Danes like to shop and pay online

Denmark

General Information

Population 5.8 m
Population 15 + 4.9 m
Online population 5.7 m
Area 42,933 km²
Currency DKK
GDP 396.7 bn $US
GDP per capita 67,922 $US

Card-based payments
Cash-based payments
Bank transfer
Wallets
Other

[{"label":"Card-based payments","value":"49"},{"label":"Cash-based payments","value":"1"},{"label":"Bank transfer","value":"9"},{"label":"Wallets","value":"26"},{"label":"Other","value":"15"}]

Banked population

Denmark 100%
Western & Central Europe 96%
World 67%

Credit card penetration

Denmark 45%
Western & Central Europe 47%
World 19%

Internet penetration

Denmark 98%
Western & Central Europe 92%
World 62%

Smartphone penetration

Denmark 93%
Western & Central Europe 81%
World 70%

Danish GDP is forecast to grow 3% in 2022 and 1.4% in 2023 partially due to Denmark’s low reliance on fossil fuel imports, however if there is further disruption in the energy market this could slow growth.

Denmark is the fourth most popular country in Europe to shop from by cross-border shoppers. The most popular store for cross border shoppers is Lego.

Core inflation in Denmark has climbed from 1.9% at the beginning of 2022 to 5.49% in July 2022, slightly higher than the average for the EU of 4.89%.

Social commerce is expected to grow by CAGR 27.5% between 2022 and 2028, being worth 945.2 m $US in 2022 and 3,955 m $US in 2028.

Future e-commerce trends (2021-2026)

B2C e-commerce ($US billion)

2022 30.8

2023 34.0

2024 37.4

2025 40.9

2026 44.5

E-commerce spending per capita ($US)

2022 5244

2023 5769

2024 6320

2025 6897

2026 7484

E-commerce spending as % of GDP

2022 7.8%

2023 8.3%

2024 8.7%

2025 9.2%

2026 9.6%

Denmark

The E-Commerce Market

Top e-commerce segments

Fashion: 31%
Electronics & Media: 29%
Toys, Hobby & DIY: 19%
Furniture & Appliances: 13%
Food & Personal Care: 8%

Cross-border e-commerce

Cross-border proportion of total e-commerce – 22%
Value of cross-border e-commerce – 6.0 bn $US
Online shoppers who have shopped cross-border – 55%

Top 3 cross-border shopping origin markets

Germany: 25%
China: 18%
Sweden: 10%

B2C e-commerce growth 20->21

Denmark 17.6%

E-commerce % of total retail

Denmark 18%
Western & Central Europe 17%
World 20%

E-commerce completed on a mobile device

Denmark 37%
Western & Central Europe 44%
World 53%

The Credit Card Split

Visa
Mastercard
Local Schemes
Other

[{"label":"Visa","value":"11"},{"label":"Mastercard","value":"17"},{"label":"Local Schemes","value":"71"},{"label":"Other","value":"1"}]

E-commerce market size 27.8 bn $US
E-commerce spending per capita 4,742 $US
E-commerce spending as % of GDP 7.3%

_{The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.}

Denmark

Local Payment Methods

BitPay

Type Cryptocurrency Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet

Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysafecard

Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Paysafecash

Type Cash Regions Eastern Europe & the CIS, North America + 1 Paysera

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Direct Debit

Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High Skrill

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Trustly

Type Bank transfer Regions Eastern Europe & the CIS, North America + 1 Market relevance High TrustPay