Denmark

Denmark

General Information

  • Population 5.8m
  • Population 15 + 4.9m
  • Online Population 5.9m
  • Area 42,933 km2
  • Currency DKK
  • GDP 352.2bn USD
  • GDP per Capita 60,494 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"62"},{"label":"Cash-based payments","value":"1"},{"label":"Bank transfer","value":"2"},{"label":"Wallets","value":"32"},{"label":"Other","value":"3"}]
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 87%
  • Western & Central Europe 75%
  • World 70%

The percentage of the Danish population shopping online reached 85.4% in 2020 and is expected to grow to almost 90% by 2024.
51% Danish consumers shop online at least once a month.

Denmark’s economy dropped by 3.3% in 2020 but is forecast to grow by 2.8% in 2021 and 2.9% in 2022 according to the IMF. Inflation also rose in 2020 by 0.3% and is expected to rise by 1.1% in 2021 and by 1.4% in 2022.

In 2020, the amount of people in Denmark who do their grocery shopping online grew from 35% to 45%. 15% did so for the first time. Despite being more expensive, online grocery shopping is expected to grow by 15% year-on-year by 2030.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 27.9
2022 31.4
2023 34.8
2024 39.0
2025 41.1
E-Commerce spending per capita ($US)
2021 4748
2022 5330
2023 5884
2024 6396
2025 6886
E-Commerce spending as % of GDP
2021 7.3
2022 7.9
2023 8.4
2024 8.9
2025 9.3

Denmark

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Clothing & Footwear: 12% | 14%
  2. Airlines & Hotels: NA | 13%
  3. Health & Beauty: NA | 8%
  4. Electrical Goods: 8% | 10%
  5. Homeware & Furniture: 5% | 9%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 22%
  2. Value of cross-border e-commerce ($US billion) – 5.7
  3. % of online shoppers who have shopped cross-border – 55%

Top 3 cross-border shopping origin markets

  1. China: 31%
  2. UK: 18%
  3. Germany: 18%
E-commerce % of total retail
  • Denmark 19%
  • Western & Central Europe 17.6%
  • World 20%
E-commerce completed on a mobile device
  • Denmark 49%
  • Western & Central Europe 43%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Local Schemes
  • Other
[{"label":"Visa","value":"15"},{"label":"Mastercard","value":"13"},{"label":"Local Schemes","value":"63"},{"label":"Other","value":"9"}]
  • E-commerce market size ($US billion) 25.4bn USD
  • E-Commerce spending per capita ($US) 4,337 USD
  • E-commerce spending as % of GDP 6.9%

Denmark

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific + 5 Market relevance High PayPal Type Wallet Regions Asia Pacific + 5 Market relevance High PaysafeCard Type Prepaid voucher Regions Asia Pacific + 5 Market relevance High PaysafeCash Type Cash Regions Eastern Europe & The Commonwealth of Independent States + 2 Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High SEPA Direct Debit Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Trustly Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 2 Market relevance High TrustPay Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Apple Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Amazon Pay Type Wallet Regions Asia Pacific + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 Market relevance High Dankort Type Local payment card Regions Western & Central Europe Market relevance High DaoPay Type Carrier billing Regions Asia Pacific + 5 Market relevance High eDankort Type Bank transfer Regions Western & Central Europe Market relevance High Google Pay Type Wallet Regions Asia Pacific + 5 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 + 5 Market relevance High MobilePay Type Wallet Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 Market relevance High Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific + 5 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance Medium Boloro Type Wallet Regions Asia Pacific + 5 G2A Pay Type Wallet Regions Asia Pacific + 5 Handelsbanken Type Bank transfer Regions Western & Central Europe Microsoft Pay Type Wallet Regions North America, Western & Central Europe NETELLER Type Wallet Regions Asia Pacific + 5 Sofort (Klarna) Type Bank transfer Regions Asia Pacific, Western & Central Europe Market relevance High Splitit Type Instalments Regions Asia Pacific + 5

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