e-Commerce Market Analysis

The eCommerce market in Finland

Finland is the 41st largest market for eCommerce with a revenue of US$3 billion in 2019, placing it ahead of Iraq and behind Ukraine.

With an increase of 8%, the Finnish eCommerce market contributed to the worldwide growth rate of 13% in 2019. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development. Global growth will continue over the next few years. This will be propelled by East and Southeast Asia, with their expanding middle class and lagging offline shopping infrastructure.

The eCommerce market includes online sales of physical goods to a private end user (B2C). Included in this definition are purchases via computer as well as mobile purchases via smartphones and tablets. Excluded from the definition of ecommerceDB are the following: digitally distributed services (e.g., travel tickets), online stores dedicated to digital media downloads or streams, online stores dedicated to B2B markets, and sales between private individuals (C2C) within the eCommerce market.

The eCommerce market in Finland

Top online stores

The biggest player in the Finnish eCommerce Market is verkkokauppa.com. The store had a revenue of US$362 million in 2019. It is followed by gigantti.fi with US$143 million revenue and power.fi with US$95 million revenue. Altogether, the top three stores account for 20% of online revenue in Finland.

Store rankings are based on every store that generates revenue in Finland. 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 Finland was considered.

One of the fastest-growing stores in the Finnish market is zalando-lounge.com. The store achieved sales of about US$72.3 million in 2019. Its revenue growth amounted to 140% in the previous year.

Top online The eCommerce market stores in Finland by eCommerce net sales 2019 in million US$ The table shows the stores that generate the highest revenue in the Finnish market. For this evaluation, only revenue created in Finland was considered. Basis are all shops on eCommerceDB that operate in Finland.

# Store
1. verkkokauppa.com US$362m
2. gigantti.fi US$143m
3. power.fi US$95m
4. zalando.fi US$95m
5. motonet.fi US$78m
The eCommerce market in Finland

Market size and growth rate

Revenue in 2019
US$2,759m
REVENUE
CAGR 2019-2023
7%
CAGR

Digital Market Outlook by Statista

The Digital Market Outlook presents up-to-date figures on markets of the digital economy. The comparable key figures are based on extensive analyses of relevant indicators from the areas of society, economy, and technology.
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Market expansion in Finland is expected to continue over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate (CAGR 19-23) for the next four years will be 7%. Compared to the year-over-year growth of 8%, this decrease suggests a moderately flooded market. Another indicator of market saturation is the online penetration of 82% in Finland; in other words, 82% of the Finnish population have bought at least one product online in 2019.

Five categories are considered by ecommerceDB. Electronics & Media is the largest segment in Finland and accounts for 26% of the eCommerce revenue in Finland. This is followed by Toys, Hobby & DIY with 25%, Fashion with 25%, Furniture & Appliances with 18% and Food & Personal Care with the remaining 6%.

The eCommerce market in Finland
Top shipping service providers

In Finland, DHL is the most frequently offered delivery service provider among online stores. Of those stores that indicating which service they use to transport their goods, 14% cited DHL as one of their providers. Moreover, UPS (United Parcel Service) and GLS are among the top three shipping service companies offered by online retailers in Finland, at rates of 12% and 6%.

Shipping information is based on orders from the store's main country, which is defined as the one where the store generates most of its online revenue. In this case, it is Finland. Only stores that provide information about their shipping providers can be considered.

Competitor analysis of shipping service providers in Finland The table shows the most offered shipping providers in Finland. Shipping information is based on orders from the store's main country, which is defined as the one where the store generates most of its online revenue. In this case, it is Finland. Only stores that provide information about their shipping providers can be considered.

# Shipping service provider
1. DHL 14%
2. UPS (United Parcel Service) 12%
3. GLS 6%
The eCommerce market in Finland

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