Denmark

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 USD
  • GDP per Capita 67,922 USD
  • 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 94%
  • World 67%
Credit card penetration
  • Denmark 45%
  • Western & Central Europe 46%
  • World 19%
Internet penetration
  • Denmark 98%
  • Western & Central Europe 91%
  • World 62%
Smartphone penetration
  • Denmark 93%
  • Western & Central Europe 75%
  • 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 $US 945.2 m in 2022 and $US 3,955 m in 2028.

Future e-commerce trends (2021-2026)

E-Commerce market size forecast ($US billion)
2022 30.8
2023 34.0
2024 37.4
2025 40.9
2026 44.5
E-Commerce spending per capita ($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

  1. Fashion: 31%
  2. Electronics & Media: 29%
  3. Toys, Hobby & DIY: 19%
  4. Furniture & Appliances: 13%
  5. Food & Personal Care: 8%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 22%
  2. Value of cross-border e-commerce – 6.0 bn USD
  3. Online shoppers who have shopped cross-border – 55%

Top 3 cross-border shopping origin markets

  1. Germany: 25%
  2. China: 18%
  3. Sweden: 10%
B2C E-commerce Growth 20->21
  • Denmark 17.6%
E-commerce % of total retail
  • Denmark 18%
  • Western & Central Europe 17.6%
  • World 20%
E-commerce completed on a mobile device
  • Denmark 37%
  • Western & Central Europe 43%
  • 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 USD
  • E-Commerce spending per capita 4,742 USD
  • 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 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 Market relevance High PaysafeCash Type Cash Regions Eastern Europe & the CIS, North America + 1 Paysera Wallet 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 Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Amazon Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, North America + 1 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Dankort Type Local payment card Regions Western & Central Europe Market relevance High DaoPay Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High eDankort Type Bank transfer Regions Western & Central Europe Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Klarna Type Bank transfer, Buy Now, Pay Later, Instalments Regions Asia Pacific, North America, Western & Central Europe Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High MobilePay Type Wallet Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Handelsbanken Type Bank transfer Regions Western & Central Europe Microsoft Pay Type Wallet Regions North America, Western & Central Europe NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Sofort (Klarna) Type Bank transfer Regions Asia Pacific, Western & Central Europe Market relevance High Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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