Payments and e-commerce in Sweden

Discover how Swedes like to shop and pay online

Sweden

General Information

Population 10.2 m
Population 15 + 8.4 m
Online population 9.8 m
Area 450,295 km²
Currency SEK
GDP 622.4 bn $US
GDP per capita 61,256 $US

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

[{"label":"Card-based payments","value":"32"},{"label":"Cash-based payments","value":"1"},{"label":"Bank transfer","value":"17"},{"label":"Wallets","value":"20"},{"label":"Other","value":"30"}]

Banked population

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

Credit card penetration

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

Internet penetration

Sweden 96%
Western & Central Europe 92%
World 62%

Smartphone penetration

Sweden 91%
Western & Central Europe 81%
World 70%

Sustainability is very important to Swedes when they research products online, particularly for women aged 65 to 79 years old. 60 % of this age group report always keeping sustainability in mind when shopping online.

In May 2022 the Swedish central bank, Riksbank, launched a new service RIX-INST which allows banks to make payments between each other in real time, 24 hours a day, 365 days a year. This will create opportunities for Swedish payment companies to create new services.

According to a survey carried out during the first quarter of 2022, the most sought after innovation for e-commerce, was across all age groups, frictionless payments.

The most popular e-commerce website in Sweden in July 2022 was blocket.se with 32 m visits.

Future e-commerce trends (2021-2026)

B2C e-commerce ($US billion)

2022 39.5

2023 44.3

2024 49.2

2025 54.0

2026 58.9

E-commerce spending per capita ($US)

2022 3768

2023 4241

2024 4652

2025 5088

2026 5524

E-Commerce spending as % of GDP

2022 6.3%

2023 6.8%

2024 7.3%

2025 7.7%

2026 8.1%

Sweden

The E-Commerce Market

Top e-commerce segments

Fashion: 31%
Electronics & Media: 23%
Toys, Hobby & DIY: 18%
Furniture & Appliances: 15%
Food & Personal Care: 12%

Cross-border e-commerce

Cross-border proportion of total e-commerce – 14%
Value of cross-border e-commerce – 5.0 bn $US
Online shoppers who have shopped cross-border – 49%

Top 3 cross-border shopping origin markets

China: 29%
Germany: 20%
UK: 11%

B2C e-commerce growth 20->21

Sweden 9.7%

E-commerce % of total retail

Sweden 21%
Western & Central Europe 17%
World 20%

E-commerce completed on a mobile device

Sweden 40%
Western & Central Europe 44%
World 53%

The Credit Card Split

Visa
Mastercard
American Express

[{"label":"Visa","value":"38"},{"label":"Mastercard","value":"61"},{"label":"American Express","value":"1"}]

E-commerce market size 34.5 bn $US
E-commerce spending per capita 3,308 $US
E-commerce spending as % of GDP 5.8%

_{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.}

Sweden

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