Market Size of Sweden E-commerce Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sweden E-commerce Market Analysis
The Sweden e-commerce market is expected to register a CAGR of 12.9% during the period 2022-2027. The primary factor driving the growth of the market in the region is the strong economy and high internet penetration, among others.
- In terms of internet penetration, Sweden is one of the most advanced countries, and consumers have achieved a higher level of maturity when it comes to e-commerce. Consumers in the region are technology savvy and qualified spenders and at the top of e-Commerce usage in Europe and globally. Most Swedish online shoppers use their mobile and smartphones when researching websites, underscoring the importance of mobile solutions for webshops.
- Various factors are driving the growth of Sweden's e-commerce market. This includes the country's strong economy as well as changing consumer behavior, where more people now buy goods and services through online platforms. In addition, more and more services are now available online than ever before, which is also helping to fuel the growth of the e-commerce market.
- Home deliveries from companies that use Artificial Intelligence for route optimization have increased sharply in the region over the years. Many market players are looking for a Broad launch of parcel boxes that receive parcels from all logistics companies.
- Moreover, companies in the region are making essential reforms in the sustainability of e-commerce by creating eco-labeling for e-commerce deliveries and reducing the proportion of air in packaging. These factors are further expected to increase the growth of the e-commerce market in the region.
- Local e-commerce sales rules and regulations in the region can hamper the growth of the e-commerce market. For instance, United States e-commerce companies operating in Sweden need to comply with the European General Data Protection Regulation (GDPR). Moreover, VAT regulations can differ between digital and physical sales.
- During the COVID-19 outbreak, when physical stores were closed, the e-commerce market in the region grew owing to an increase in the strong demand for groceries, furniture, home furnishing, and pharmacy products, whereas there was moderate demand for the clothing and footwear segment. Moreover, the classic department store NK in Stockholm launched e-commerce. Many merchants have also started offering drive-through and click-and-collect.
