Insights into the growth of Denmark ecommerce profiling payment methods, target audiences, marketing, social media, economy and logistics
Economy
Denmark is home to 5.84 million people with a total GDP of US$350 billion. GDP per capita is currently US$67,217 and expected to reach US$82,750 by 2026. It’s ranked as the 10th richest country in the world by the World Bank’s GDP per capita ranking.
See other European opportunities in Finland, Norway and Sweden.
Digital User Insights
There are currently 4.1 million ecommerce users in Denmark. The average user spends US$1,359 online, which will grow to US$1,573 by 2025.
Product Categories
Total ecommerce revenue across all product categories is US$5.6 billion, expected to reach US$6.4 billion by 2025. Fashion is currently the leading product category accounting for US$1.8 billion market share. Electronics and Media is the second leading product category accounting for US$1.5 billion.
By 2025, Fashion will continue to lead, valued at US$2 billion. Electronics and Media will remain in second place, reaching US$1.7 billion.
Logistics
In 2018, Denmark ranked 8th in the World Bank Logistics ranking. 88% of Denmark’s population reside in urban areas, this is expected to grow in coming years.
Preferred Online Payments
Denmark’s population use a variety of online payment methods with most shoppers (65%) choosing to use credit/debit cards online. 11% used a mobile app, 5% of shoppers used Paypal, and a further 4% used online banking.
Where does Denmark buy from?
Denmark imports from Germany (US$21 billion), Sweden (US$11.1 billion), Netherlands (US$7.43 billion), China (US$6.97 billion), and Norway (US$4.43 billion).
Internet and Device Usage
Internet penetration in Denmark is currently at 97%. Smartphone penetration is 90% and is projected to grow to 91.2% by 2025.
Smartphones are the most commonly used devices to purchase clothing, footwear and jewellery online in 2020 ta 46%. 35% use laptops or desktops and 18% use tablets.
Marketing
Total Marketing spend in Denmark has dropped in recent years, as brands move away from traditionally expensive advertising like newspapers to digital options. Digital currently represents the biggest market share accounting for 62% of advertising spend in 2019 (latest data).
Social Media
Denmark’s social media penetration is expected to reach 71% by 2024. Popular networks include Facebook, LinkedIn, Snapchat, Instagram and Twitter. Facebook leads, boasting almost 3.5 million active users.
For more market insights, check out the ESW series of blogs covering a range of emerging ecommerce markets.
*Insights derived from ESW data, Statista, WorldBank, OECD and other industry sources.
