Payments and e-commerce in Norway

Discover how Norwegians like to shop and pay online

Norway

General Information

Population 5.5 m
Population 15 + 4.5 m
Online population 5.4 m
Area 385,207 km²
Currency NOK
GDP 445.5 bn $US
GDP per capita 81,520 $US

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

[{"label":"Card-based payments","value":"42"},{"label":"Cash-based payments","value":"2"},{"label":"Bank transfer","value":"15"},{"label":"Wallets","value":"17"},{"label":"Other","value":"24"}]

Banked population

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

Credit card penetration

Norway 70%
Western & Central Europe 47%
World 19%

Internet penetration

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

Smartphone penetration

Norway 92%
Western & Central Europe 81%
World 70%

Norwegian consumers are considered to be very tech savvy and highly literate in e-commerce. The rate of m-commerce is gaining popularity so any retailer considering moving into this market must take this into consideration.

Norway looks very well placed to avoid the energy crisis in the rest of Europe but is still being affected by inflation – running at 4.5% in 2022, compared to 1% in 2021.

98% of the population has access to the internet and 92% have used it to go shopping, with 35% making purchases more than 6 times in the three months before being surveyed.

finn.no was the most popular e-commerce website in Norway in July 2022 with 45. 1 m visits that month.

Future e-commerce trends (2021-2026)

B2C e-commerce ($US billion)

2022 23.0

2023 26.1

2024 29.2

2025 32.4

2026 35.5

E-commerce spending per capita ($US)

2022 4223

2023 4764

2024 5313

2025 5865

2026 6392

E-commerce spending as % of GDP

2022 5.0%

2023 5.5%

2024 6.0%

2025 6.5%

2026 6.9%

Norway

The E-Commerce Market

Top e-commerce segments

Fashion: 27%
Electronics & Media: 23%
Toys, Hobby & DIY: 21%
Food & Personal Care: 17%
Furniture & Appliances: 12%

Cross-border e-commerce

Cross-border proportion of total e-commerce – 25%
Value of cross-border e-commerce – 5.0 bn $US
Online shoppers who have shopped cross-border – 59%

Top 3 cross-border shopping origin markets

China: 31%
USA: 13%
UK: 12%

B2C e-commerce growth 20->21

Norway 6.8%

E-commerce % of total retail

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

E-commerce completed on a mobile device

Norway 38%
Western & Central Europe 44%
World 53%

The Credit Card Split

Visa
Mastercard
Local Schemes
Other

[{"label":"Visa","value":"7"},{"label":"Mastercard","value":"11"},{"label":"Local Schemes","value":"62"},{"label":"Other","value":"20"}]

E-commerce market size 19.9 bn $US
E-commerce spending per capita 3,667 $US
E-commerce spending as % of GDP 4.6%

_{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.}

Norway

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 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

Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Allied Wallet