Economy
Sweden is home to 10.5 million people with a total GDP of US$529 billion. GDP per capita is currently US$53,719. Sweden is ranked as the 14th richest country by the World Bank GDP per capita rankings.
See other European opportunities in Denmark, Norway and Finland.
Digital User Insights
There are currently 8.1 million ecommerce users in Sweden, with an additional 400,000 users to be shopping online by 2021. These 8.5 million ecommerce users will represent 76% of the total population. The average user spends US$1579 online, which will grow to US$1639 by 2025.
Product Categories
Total ecommerce revenue across all product categories is US$12.7 billion, expected to reach US$13.9 billion by 2025. Fashion is currently the leading product category, accounting for US$4 billion market share. Electronics & Media is second, accounting for US$2.8 billion.
By 2025, Fashion will still lead, valued at US$4.45 billion. Electronics & Media will also grow, reaching US$3 billion.
Logistics
In 2018, Sweden was ranked 2nd in the World Bank Logistics ranking making it among the easiest countries in the world to deliver to. 88% of Sweden’s population reside in urban areas.
Preferred Online Payments
42% of Swedish online shoppers paid by credit card, and a further 19% used bank transfers. Payment wallets like Payson and PayPal are increasing in popularity, expected to reach 14% by 2025.
Where does Sweden buy from?
Sweden imports from Germany (US$27.2 billion), Netherlands (US$13.1 billion), Denmark (US$10.3 billion), Norway (US$10.1 billion), and China (US$8.4 billion).
Internet and Device Usage
Internet penetration in Sweden is currently at 91%, and should reach 94% by 2025. Smartphone penetration is 78% and is projected to grow to 95% by 2025.
Marketing
Total Marketing spend in Sweden has risen in recent years, as advertisers steadily invest more in digital advertising. Digital has grown to the highest market spend reaching US$4 billion.
Social Media
Sweden’s Social Media Penetration is 66% in 2021, with this expected to surpass 69% by 2024. Facebook, Twitter, Pinterest, Reddit and Tumblr are the leading social networks.
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.
