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Territory Overview

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Territory Overveiw of The Nordic Region

Population: 26 million

Countries: Denmark, Finland, Norway & Sweden (Iceland not included for the purposes of this report)

Official language(s): See individual country profiles but English spoken widely

Gross domestic product: $1.4trn

The Nordics (Sweden, Denmark, Norway and Finland – Iceland is not included for the purposes of this output) is a market with a combined population of 26 million people and GDP of $1.4trn – which ranks the region as the 12th biggest global economy.

 

Distance-selling has long been in the blood of the population, if for nothing else due to the sheer size of the territory and low population density. With an average GDP per capita of $49,000, this is a relatively wealthy region with each of the four countries covered here ranking in the top 10 ecommerce enabled territories globally; ahead of both the UK and US.

 

The region also features the politically created area of Greater Copenhagen – which has a high concentration of population, infrastructure, opportunity and business. Consisting of an area 300 km around Copenhagen, it includes southern Sweden and has a population of over 9 million; one of the most densely populated regions in the Nordics.

The four countries of the Nordics all rank in the top 10 of those countries where eCommerce provided the most opportunity.

eCommerce opportunity

The United Nations Conference on Trade and Development (UNCTAD) released a report in March of 2015 which showed the four countries of the Nordics all ranking in the top 10 of those countries where eCommerce provided the most opportunity. The main characteristics measured by this report were that the top countries tended to have smaller populations, good access to telecommunications and postal infrastructure (including IT resource), and credit cards as a payment mechanism.

 

In the following country profiles, a world eCommerce ranking is displayed which is taken from the AT Kearney 2015 Global Retail eCommerce Index. The metrics used to determine this ranking are slightly different, including online market size, consumer behaviour (openness to online), growth potential and infrastructure. This system favours larger, more established economies but serves to highlight the global competition for investment by merchants.

 

Smaller markets can often provide a better return on investment, although the competitive landscape can be significantly different. For international merchants there is also the benefit that English is widely spoken. While it is usually better to localise the language of the website, this can be a longer-term aim as merchants get used to trading into the territory.


Further information

To access the Full Report, follow this link here to register and download.

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eCommerce Environment

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eCommerce Environment Trends and analysis are the lifeblood of any digitally-enabled business. This section highlights key trends and statistics to illustrate the state of eCommerce in the Nordic countries.
Marketing and Branding

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Marketing and Branding Data and insight on popular digital marketing channels and how the Nordic consumers interact with the communications.
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Finance and Payments A key area for any business concerns how to take payment for products and services offered. This section reviews common payment types and trends that are taking place in The Nordics.
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Legal This section illustrates the legal environment in The Nordics.
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Logistics This section examines significant trends, advances and practices in The Nordics logistics and delivery.
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Customer Experience Retail is all about customer expectations and experience. This section provides insight into the Nordics consumer, their expectations and concerns.

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