eCommerce market in Norway

Norway is the 35th largest market for eCommerce with a predicted revenue of US$9,334.4 million by 2024, placing it ahead of Finland. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 8.9%, resulting in a projected market volume of US$13,134.4 million by 2028. With an expected increase of 11.2% in 2024, the Norwegian eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Norway, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Norwegian eCommerce market. Fashion is the largest market and accounts for 37.5% of the Norwegian eCommerce revenue. It is followed by Electronics with 16.2%, Care Products with 12.3%, Grocery with 11.8%, Hobby & Leisure with 11.3%, DIY with 6.5%, and Furniture & Homeware with the remaining 4.3%.

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 Norwegian retail market, the online share is 17.3% and will increase by an average of 7.3% to 22.9% by 2028.

The biggest player in the Norwegian eCommerce market is elkjop.no. The store had a revenue of US$361.3 million in 2023. Store rankings include every store that generates revenue in Norway. 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 Norway was considered.

The Norwegian eCommerce market in 2023 in terms of offered payment methods is fragmented and dominated by a few providers with VISA (Cards) covering the largest share with 97.1% of all online stores checked. Other offered payment methods in the Norwegian eCommerce market in 2023 are Mastercard (Cards) with 97.1%, Klarna (Invoice) with 39.0%, and Klarna (Installment) with 31.7%. With 29.3% Vipps (E-wallets) has already a significantly smaller coverage compared to VISA (Cards).

Despite PostNord's dominant position with 42.4% of online stores opting for its services, the Norwegian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Posten, Bring, DHL, and Helthjem, hold smaller but significant shares, contributing to a dynamic and fragmented market.