Quarterly growth in e-commerce GMV in the Nordics 2023-2024
During the second quarter of 2024, digital commerce revenue in the Nordic countries decreased by half compared to the previous quarter and it kept decreasing in the fourth quarter of 2024.
Digital commerce in the Nordics
The Nordic countries have seen a decline in e-commerce, and it is most prevalent among shopping on desktop devices. In the second quarter of 2023, there was a five percent YoY decrease in digital commerce on computers in Sweden, Denmark, Finland, Iceland, and Norway. Similarly, Nordic countries only recorded a conversion rate of 1.4 percent in the third quarter of the year, lower than the global average of 1.9 percent.
Nordic e-shoppers
The way consumers shop online varies from country to country, even in the Nordics. In 2022, Norway had the highest number of consumers who purchased goods via the internet out of all the Nordic countries, at more than 90 percent. Norway was closely followed by Denmark, with around 88 percent of Danes engaging in e-commerce. Finland had the lowest share of shoppers who bought items online, at roughly 79 percent. The devices used to make purchases also vary. In the second quarter of 2023, more than half of Swedes used their mobile phones to place orders online. This was the highest percentage in the Northern region.
