Sweden

Sweden

General Information

  • Population 10.1m
  • Population 15 + 8.6m
  • Online Population 9.9m
  • Area 450,295 km2
  • Currency SEK
  • GDP 537,6bn USD
  • GDP per Capita 51,796 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"30"},{"label":"Cash-based payments","value":"1"},{"label":"Bank transfer","value":"22"},{"label":"Wallets","value":"16"},{"label":"Other","value":"31"}]
Banked population
  • Sweden 100%
  • Western & Central Europe 94%
  • World 67%
Credit card penetration
  • Sweden 45%
  • Western & Central Europe 46%
  • World 19%
Internet penetration
  • Sweden 98%
  • Western & Central Europe 91%
  • World 62%
Smartphone penetration
  • Sweden 84%
  • Western & Central Europe 75%
  • 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.

Food and grocery shopping online was not particularly popular before the pandemic. But in 2020 this category of e-commerce rose by 14% and is expected to remain 8% higher than it was in 2019, even if this category is not in the top 5 list yet.

Sweden’s economy dropped by 2.8% in 2020 but is forecast to grow by 3.1% in 2021 and 3% in 2022 according to the IMF. Inflation also rose in 2020 by 0.7% and is expected to rise by 1.5% in 2021 and by 1.2% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 36.6
2022 46.0
2023 53.2
2024 60.4
2025 67.6
E-Commerce spending per capita ($US)
2021 3682
2022 4350
2023 4998
2024 5638
2025 6268
E-Commerce spending as % of GDP
2021 6.2
2022 7.0
2023 7.8
2024 8.6
2025 9.2

Sweden

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: 44% | 30%
  2. Health & Beauty: 14% | 21%
  3. Electrical Goods: 17% | 15%
  4. Toys, DIY, & Hobbies: 8% | 13%
  5. Homeware & Furniture: 6% | 11%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 12%
  2. Value of cross-border e-commerce ($US billion) – 4.0
  3. % of online shoppers who have shopped cross-border – 49%

Top 3 cross-border shopping origin markets

  1. China: 32%
  2. UK: 19%
  3. Germany: 15%
E-commerce % of total retail
  • Sweden 20%
  • Western & Central Europe 17.6%
  • World 20%
E-commerce completed on a mobile device
  • Sweden 49%
  • Western & Central Europe 43%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
[{"label":"Visa","value":"39"},{"label":"Mastercard","value":"59"},{"label":"American Express","value":"2"}]
  • E-commerce market size ($US billion) 34.6bn USD
  • E-Commerce spending per capita ($US) 3,324 USD
  • E-commerce spending as % of GDP 5.8%

Sweden

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 DaoPay Type Carrier billing Regions Asia Pacific + 5 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 Masterpass Type Wallet Regions Asia Pacific + 5 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High Nordea e-betalning Type Bank transfer Regions Western & Central Europe Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High Samsung Pay 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 Swish Type Wallet Regions Western & Central Europe 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 Ålandsbanken Type Bank transfer Regions Western & Central Europe 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 Paylevo Type Buy Now, Pay Later Regions Western & Central Europe Siru Mobile Type Carrier billing Regions Western & Central Europe Zimpler Type Wallet Regions Western & Central Europe Splitit Type Instalments Regions Asia Pacific + 5

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