eCommerce market in Sweden

Sweden is the 28th largest market for eCommerce with a predicted revenue of US$13,540.4 million by 2024, placing it ahead of Austria. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 4.5%, resulting in a projected market volume of US$16,136.6 million by 2028. With an expected increase of 5.7% in 2024, the Swedish eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Sweden, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Swedish eCommerce market. Hobby & Leisure is the largest market and accounts for 25.8% of the Swedish eCommerce revenue. It is followed by Electronics with 19.6%, Fashion with 19.5%, Furniture & Homeware with 11.3%, Care Products with 9.2%, DIY with 8.9%, and Grocery with the remaining 5.6%.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Swedish retail market, the online share is 15.9% and will increase by an average of 7.2% to 21.0% by 2028.

The biggest player in the Swedish eCommerce market is apotea.se. The store had a revenue of US$513.7 million in 2023. Store rankings include every store that generates revenue in Sweden. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Sweden was considered.

With 95.9% Mastercard the most commonly offered payment method of all online stores in the Swedish eCommerce market in 2023. Like Mastercard VISA with a share of 95.7% and American Express with a share of 42.0% the payment type Cards is the most common used by online retailers in in the Swedish eCommerce market in 2023. Other commonly used payment methods in that market are Klarna (Invoice) with 47.0% and Klarna (Installment) with 38.0% of stores offering that payment method to the clients.

Despite PostNord's dominant position with 67.1% of online stores opting for its services, the Swedish eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Budbee Home Delivery, DHL, DB Schenker, and UPS (United Parcel Service), hold smaller but significant shares, contributing to a dynamic and fragmented market.

In the Swedish eCommerce market, there is intense competition among various shop software solutions, leading to a highly fragmented landscape in 2023. None of the major shop software solution, including Magento, Salesforce Commerce Cloud, and WooCommerce, have been able to secure a market share exceeding 8.6%, suggesting a diversified market with numerous players holding smaller stakes.