What are Chinese sellers waiting for the northern Europe market?
The northern Europe region is a rich market, where people have great interest in foreign goods. Denmark, Finland, Norway and Sweden together have a population of 26 million.
The northern Europe e-commerce market is dominated by foreign companies that provide consumers with goods that local entity stores do not have.
Although almost all nordic people speak English, they prefer to browse native language websites.
E-commerce revenues in northern Europe reached $ 23.7bn in 2016, according to Sweden post PostNord. Here are some Post Nord data analysis of the nordic e-commerce market:
Debit and credit cards are the preferred payment methods for Danish and Norwegian consumers. Swedish consumers prefer payment after receipt of the invoice or direct payment by bank transfer. Finnish consumers use all three of them, debit cards, credit cards and direct bank transfers.
Nordic consumers enjoy a variety of order distribution options. Most countries have a 24-hour self-service access package machine, which Finns particularly like that. Distribution center ( usually working with entity stores ) are popular in all nordic countries, especially Sweden, where 37 % of online shoppers like to pick up packages.
3. Cross-border E-commerce
More than a third of online shoppers buy goods in the international e-commerce website every month in northern Europe, Consumers in Finland and Norway are more likely to buy goods from other countries than consumers in Sweden and Denmark.
In 2016, nordic consumers spent 25 per cent of total e-commerce spending on cross-border E-commerce. Consumers in Sweden and Norway love to buy products from UK and China, while Danes prefer things from UK and Germany, while Finns prefer things from Germany and China.
Clothing and footwear are the most popular online shopping categories in northern Europe, followed by consumer electronics. Online beauty and health products are popular among young consumers.
Facebook is the most popular social media platform in the nordic region, and YouTube has a large user basis in the region.
Notably, people in northern Europe rely more on e-mail than any other form of communication, so E-commerce can be marketed in this way to reach a wider audience.
4. overview of the four nordic countries:
( 1 ) Sweden is the most populous country in the nordic region, with a population of 9.9 million. In 2016, 67 per cent of Swedes bought goods online, with the same frequency of online purchases by men and women.
Sweden has the lowest percentage of cross-border purchases in northern Europe, at only 29%, mainly because of the high number of domestic E-commerce sellers in Sweden. 83% percent of Swedish consumers expect E-commerce to provide free returns, and 75% expect orders to be received within 1 to 2 days. Sweden is also the most developed mobile E-commerce country in northern Europe.
Webgallarian, Sweden's E-commerce platform, currently has 140 stores and more than 425,000 products. Ingemar Gleissman, the platform's founder and chief executive, said the platform's goal was to become Amazon and Alibaba in northern Europe, with 2,000 stores and more than 3 million products.
( 2 ) Norway has a population of 5.3 million, home electronics and clothing is the Norwegian people's favorite online shopping products. Norway ranked second in nordic countries, with 65% of online shoppers. 42% of online shoppers do cross-border shopping. Norwegians value a variety of modes of distribution, including the possibility of purchasing goods online and received it offline. In addition, free distribution and return are important benefits for Norwegian consumers. While many people are shopping on the mobile side, only 40 % of Norwegians think mobile-friendly websites are important according to the data. Norway is the only country in northern Europe that does not belong to the EU and has its own VAT and import duty regulations. Generally speaking, international businessmen are exempt from VAT.
( 3 ) Denmark has a population of 5.7 million, with more than 90% of the population shopping online, and women aged 30 to 45 are the main shopping groups.32% of Danes buy foreign products online. 80 % of consumers value whether to provide free returns. Notably, 63% consumers in Denmark shop online every month.
( 4 ) Finland has a population of 5.5 million. Finns like to buy things from places outside northern Europe because of the lower prices and the variety of products they can choose. Finland has the highest percentage of cross-border shoppers in northern Europe, at 46%. Only 20% of Finnish shoppers use mobile devices for online shopping. DIY assembly tools and outdoor sporting goods are Finland's favorite categories. Under the influence of Finnish law in the past, sellers usually pay the return freight, so 80% of Finns attach great importance to free return, at the same time return rate is very high, the monthly return rate reached 14%.
Conclusion:sellers who have already entered the western European market may have found the nordic market a good complement, people there speak English and yearn for foreign goods.