Norway E-commerce Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Norway E-commerce Market is Segmented by B2C eCommerce (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverage, Furniture and Home), and B2B eCommerce.

Market Snapshot

Norway e-commerce market
Study Period: 2020-2027
Base Year: 2021
CAGR: 12.5 %

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Market Overview

The Norway e-commerce market is expected to register a CAGR of 12.5% during the period 2022-2027. The factors driving the market's growth include better quality transport infrastructure, rising urbanization, and high access to the Internet, among others.

  • One of the primary factors helping to drive the growth of the e-commerce market in Norway is how easy it is to deliver goods. Norway ranks decently on the World Bank Logistics Performance Index, which indicates its better quality of the transport infrastructure in the country, eases of arranging low-cost shipments, and less timeliness of freight. These factors are poised to drive the growth of the e-commerce market in Norway.
  • Moreover, with 82.97% of the population living in an urban area, as reported by the World Bank, Norway remains one of the easiest countries in the world to deliver to. Furthermore, the high internet penetration across urban and rural areas of the country is also propelling the growth of the e-commerce market in the area.
  • The market players are committed to continuous innovation and development in the market. For instance, players can be noted to indulge in personalizing the e-commerce experience by integrating artificial intelligence into the platforms. Furthermore, the vendors are leveraging the customer data to understand behavioral patterns and trends in order to make the platforms more customer-friendly.
  • Manufacturers, vendors, and retailers considering selling products through the Internet have the opportunity to get in contact with customers more quickly but still need to consider challenges related to fulfillment, shipping, taxes, value-added tax (VAT), and EU regulations in Norway. According to the Digital Service Act, the e-commerce platforms requires to conduct annual risk assessments on the available content through their platform and its effects on fundamental rights, public health, and public security; including algorithms used, advertising, and content; to report information associated with a severe criminal offense and to suspend services that frequently provide illegal content.
  • The COVID-19 outbreak accelerated an expansion of e-commerce towards new businesses, customers, and types of products. E-commerce has offered customers access to a variety of products from the convenience and safety of their homes. It has enabled firms to continue operating despite contact restrictions and other confinement measures. In the region, many operators of brick-and-mortar businesses, who often were forced to shut down their physical business completely, are now considering e-commerce an alternative sales channel.

Scope of the Report

E-commerce or electronic commerce is powered by the internet, where consumers can access online stores to browse the products or services and place orders for goods, products, or services via their own devices.

The Norway E-commerce Market is Segmented by B2C eCommerce (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverage, Furniture and Home), and B2B eCommerce. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyzes the overall impact of Covid-19 on the ecosystem.

By B2C ecommerce
Market Size (GMV) for the Period of 2017-2027
Market Segmentation - by Application
Beauty and Personal Care
Consumer Electronics
Fashion and Apparel
Food and Beverages
Furniture and Home
Others (Toys, DIY, Media, etc.)
By B2B ecommerce
Market Size for the Period of 2017-2027

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Key Market Trends

Growing Number of E-shoppers is Expected to Boost E-commerce Market

  • E-shoppers are the consumers that order their goods and services online to be delivered at home. Today e-shoppers are confident in the online shopping experience and now expect a high level of service with every purchase. Moreover, the region has a 98% population that has access to internet connection.
  • As per data from Eurostat, the percentage of internet users in Norway that bought goods or services online was 78% in 2017. This percentage drastically increased to 87% in the year 2020. Due to the increase in e-shoppers, the e-commerce sector is gaining growth and is expected to grow further over the forecast period.
  • The use of e-commerce activities has gained much popularity among many consumers in Norway over the past few years. This popularity has been enhanced by using social media platforms which have boosted the way such activities are carried out. Platforms like Facebook and Pinterest remain to be highly popular in the country. Many market players are promoting their products and services on social media platforms to gain more market share.
  • Credit and debit cards are the most commonly used electronic payments; that Norwegian people choose for their online purchases. Card payments remain attractive partly because of the rewards and rebates. As per the Norges Bank, the most famous payment method at points of sale in Norway was card payments, with 83% in Spring 2021.
  • Moreover, the frequency in which people use the internet is relatively high in Norway. As per Eurostat, 95% of internet users in Norway used the internet daily at least once a day in 2021 compared to 94% in 2020. This increase in daily internet use can inspire more e-shoppers to use e-commerce websites, which may result in the growth of the e-commerce market in the region.
Norway e-commerce market forecast

Consumer Electronics Segment is Expected to Grow at a Significant CAGR

  • As per the International Trade Association, Norway is a modern, energy-rich country and is considered one of the world’s wealthiest countries, with the GDP per capita based on purchasing power parities exceeding USD 63,500. Incomes in the region are also more evenly distributed, making every person a consumer.
  • Moreover, some of Norway's most popular and biggest e-commerce stores are consumer electronics store Komplett.no and consumer electronics retailer Elkjøp (known as Elgiganten outside Norway). These Market players offer consumers discounts and advanced payment systems to gain more market share.
  • As per Statistics Norway, the online purchase of electronics equipment was 23% in 2019, 13% in 2020, and 20% in 2021. The increase in online purchases is further expected to grow over the forecast period due to more advanced apps by e-commerce market players and faster delivery speed.
  • Similarly, the online purchase of computer hardware was 13% in 2019 and increased to 17% in 2021. Furthermore, the online purchase of media (films and music) was 48% in 2019, and it grew to 63% in the year 2021. In the coming years, this growth is further expected in the electronics and media segment.
  • The online purchase of consumer electronics is more prevalent in the age group of 25 to 44. The age group accounted for more than 56% of online purchases of electronic equipment in the year 2021. Higher internet penetration in the region and extensive digital advertising by e-commerce companies is further expected to increase the demand for e-commerce purchasing of electronic and media over the forecast period.
 Norway e-commerce market trends

Competitive Landscape

The Norway e-commerce market is fragmented in nature because of the high competitive rivalry between many market players. Major market players in Norway's e-commerce market are opting for expansion and merger activities as well as launching new products to gain market share.

  • November 2021 - Northbaze Distribution AB launched a strategic collaboration with Elkjop Nordic to expose JAYS full range in Elkjop's stores and online throughout the Nordic region. Part of Northbaze Distribution's strategy within the Audio business area, which is led by the JAYS brand, is to establish itself with the most prominent players in the Nordic region.
  • January 2022 - Swedish automated parcel locker company Instabox announced the acquisition of Norway-based last-mile delivery service company Porterbuddy to improve and increase its locker and home delivery services across the region. Porterbuddy delivers parcels from popular merchants like Komplett, Varner, Jollyroo, and Farmasiet.

Recent Development

  • November 2021 - Klarna, known for its buy now, pay later solution, launched a new one-stop shopping app. Consumers can place orders, see special offers, receive alerts on discounts, manage payments, and track delivery status within the app. The application is available on mobile devices with, Android and iOS. The app is available in Australia, New Zeeland, the UK, the US, Germany, Austria, Spain, Belgium, Sweden, Finland, Norway, Denmark, Poland, and France.
  • February 2022 - Norway’s Komplett ASA announced its plans to acquire NetOnNet AB in a deal that values the Swedish e-retailer at USD 420 million to create a key electronics retailer in the Nordic region. The companies sell electronics and IT equipment primarily online; the combination will reduce costs, mainly in sourcing, with the full impact seen within two years.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Defination

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers/Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Key Market Trends and Share of E-commerce of Total Retail Sector

    4. 4.4 Impact of COVID-19 on the E-commerce Sales

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Growing Number of E-shoppers is Expected to Boost E-commerce Market

      2. 5.1.2 Rising Mobile E-commerce Usage

      3. 5.1.3 High Internet Penetration Across Rural and Urban Areas of the Country

    2. 5.2 Market Challenges

      1. 5.2.1 Challenges Related to Fulfillment, Shipping, Taxes, Value Added Tax (VAT) and EU Regulations

    3. 5.3 Analysis of Key Demographic Trends and Patterns Related to E-commerce Industry in Norway (Coverage to Include Population, Internet Penetration, E-commerce Penetration, Age & Income etc.)

    4. 5.4 Analysis of the Key Modes of Transaction in the E-commerce Industry in Norway (Coverage to Include Prevalent Modes of Payment Such as Cash, Card, Bank Transfer, Wallets, etc.)

    5. 5.5 Analysis of Cross-Border E-commerce Industry in Norway (Current Market Value of Cross-border & Key Trends)

    6. 5.6 Current Positioning of Norway in the E-commerce Industry in Europe

  6. 6. MARKET SEGMENTATION

    1. 6.1 By B2C ecommerce

      1. 6.1.1 Market Size (GMV) for the Period of 2017-2027

      2. 6.1.2 Market Segmentation - by Application

        1. 6.1.2.1 Beauty and Personal Care

        2. 6.1.2.2 Consumer Electronics

        3. 6.1.2.3 Fashion and Apparel

        4. 6.1.2.4 Food and Beverages

        5. 6.1.2.5 Furniture and Home

        6. 6.1.2.6 Others (Toys, DIY, Media, etc.)

    2. 6.2 By B2B ecommerce

      1. 6.2.1 Market Size for the Period of 2017-2027

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Prisjakt Sverige AB

      2. 7.1.2 Elkjøp

      3. 7.1.3 FINN.no

      4. 7.1.4 Komplett AS

      5. 7.1.5 Power.no

      6. 7.1.6 About You norway

      7. 7.1.7 Zalando.no

      8. 7.1.8 Kolonial.no

      9. 7.1.9 Netonnet.no

      10. 7.1.10 NorgesGruppen ASA

    2. *List Not Exhaustive
  8. 8. Investment Analysis

  9. 9. Future Outlook of the Market

**Subject to Availability

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Frequently Asked Questions

The Norway E-commerce Market market is studied from 2020 - 2027.

The Norway E-commerce Market is growing at a CAGR of 12.5% over the next 5 years.

Prisjakt Sverige AB, Elkjøp, FINN.no, Komplett AS, Power.no are the major companies operating in Norway E-commerce Market.

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