eCommerce market in Finland
Finland is the 38th largest market for eCommerce with a predicted revenue of US$8,215.4 million by 2023, placing it ahead of Nigeria. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 8.8%, resulting in a projected market volume of US$11,509.1 million by 2027. With an expected increase of 17.0% in 2023, the Finnish eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Finland, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Finnish eCommerce market. Fashion is the largest market and accounts for 25.2% of the Finnish eCommerce revenue. It is followed by Electronics & Media with 23.6%, Toys, Hobby & DIY with 19.7%, Food & Personal Care with 18.6%, and Furniture & Appliances with the remaining 12.9%.
Market development
eCommerce revenue development in Finland
Finland is the 38th largest market for eCommerce with a predicted revenue of US$8,215.4 million by 2023, placing it ahead of Nigeria. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 8.8%, resulting in a projected market volume of US$11,509.1 million by 2027. With an expected increase of 17.0% in 2023, the Finnish eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Finland, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Finnish eCommerce market. Fashion is the largest market and accounts for 25.2% of the Finnish eCommerce revenue. It is followed by Electronics & Media with 23.6%, Toys, Hobby & DIY with 19.7%, Food & Personal Care with 18.6%, and Furniture & Appliances with the remaining 12.9%.
eCommerce revenue development in Finland
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 73.9 | 85.6 | 45.8 | 97.0 | 80.8 | 9.7 | 81.5 | 95.2 |
| AOV (in US$) | 80.1 | 94.8 | 23.7 | 62.9 | 17.2 | 61.6 | 21.6 | 62.7 |
| CVR (in %) | 73.9 | 85.6 | 45.8 | 97.0 | 80.8 | 9.7 | 81.5 | 95.2 |
Top stores
Top five online stores in Finland by net sales 2021
The biggest player in the Finnish eCommerce market is verkkokauppa.com. The store had a revenue of US$335.2 million in 2021. verkkokauppa.com is followed by gigantti.fi and k-ruoka.fi as the second- and third-largest stores with US$264.7 million and US$183.8 million, respectively. Altogether, the top three stores account for 22.0% of the top 100 online stores' revenue in Finland. Store rankings include every store that generates revenue in Finland. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Finland was considered.
eCommerce net sales generated in Finland in 2021
Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed
Source: Annual report, secondary sources, ecommerceDB analysis
| no-access-0 | no-access-1 | no-access-2 | no-access-3 | no-access-4 | |
|---|---|---|---|---|---|
| Filtered revenue (in mUS$) | 900.0 | 550.0 | 470.0 | 430.0 | 370.0 |
| Share of global revenue (in %) | 20.7 | 12.0 | 3.9 | 20.6 | 20.7 |
| Global revenue (in mUS$) | 8,300.0 | 4,600.0 | 1,190.0 | 2,122.0 | 1,814.0 |
| Growth global revenue (in %) | 8.3 | 12.4 | 33.6 | 18.0 | 12.6 |
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