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 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.
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.
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