eCommerce market in Finland

Market development

eCommerce revenue development in Finland

Finland is the 36th largest market for eCommerce with a predicted revenue of US$8,368.2 million by 2024, placing it ahead of Czechia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 4.4%, resulting in a projected market volume of US$9,935.8 million by 2028. With an expected increase of 5.6% in 2024, the Finnish eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Finland, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Finnish eCommerce market. Hobby & Leisure is the largest market and accounts for 26.1% of the Finnish eCommerce revenue. It is followed by Electronics with 20.5%, Fashion with 17.1%, Furniture & Homeware with 11.7%, Care Products with 9.4%, DIY with 9.1%, and Grocery with the remaining 6.1%.

eCommerce revenue development in Finland

in million US$

eCommerce revenue growth in Finland

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)97.995.618.759.737.656.793.153.2

Online share

eCommerce online share in Finland

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 Finnish retail market, the online share is 16.3% and will increase by an average of 6.8% to 21.2% by 2028.

eCommerce online share in Finland

in %
20202021202220232024202520262027
Online share (in %)6.9%26.7%62.4%37.6%45.6%2.6%49.8%61.2%

Top stores

Top five online stores in Finland by net sales 2023

The biggest player in the Finnish eCommerce market is verkkokauppa.com. The store had a revenue of US$243.0 million in 2023. 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 2023

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m8.3%
US$550.0m
12.0%
US$4,600.0m12.4%
US$470.0m
3.9%
US$1,190.0m33.6%
US$430.0m
20.6%
US$2,122.0m18.0%
US$370.0m
20.7%
US$1,814.0m12.6%

Payment Methods

Top 5 offered payment methods in the Finnish eCommerce market

With 95.8% VISA the most commonly offered payment method of all online stores in the Finnish eCommerce market in 2023. Like VISA Mastercard with a share of 95.8% and American Express with a share of 43.9% the payment type Cards is the most common used by online retailers in in the Finnish eCommerce market in 2023. Other commonly used payment methods in that market are Bank transfer/cash in advance (Bank transfer) with 56.1% and PayPal (E-wallets) with 38.7% of stores offering that payment method to the clients.

Top 5 offered payment methods in the Finnish eCommerce market

in %

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Shipping Service Provider

Top 5 offered shipping providers in the Finnish eCommerce market

Despite Posti's dominant position with 57.8% of online stores opting for its services, the Finnish eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Matkahuolto, PostNord, Budbee Home Delivery, and DHL, hold smaller but significant shares, contributing to a dynamic and fragmented market.

Top 5 offered shipping providers in the Finnish eCommerce market

in %

See all stores offering