Fashion market in Finland
The Finnish Fashion eCommerce market is predicted to reach US$1,432.2 million by 2024 and accounts for 17.1% of the total eCommerce market in Finland. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be -2.1%, resulting in a projected market volume of US$1,317.1 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
Market development
eCommerce revenue development in the Fashion market in Finland
The Finnish Fashion eCommerce market is predicted to reach US$1,432.2 million by 2024 and accounts for 17.1% of the total eCommerce market in Finland. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be -2.1%, resulting in a projected market volume of US$1,317.1 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
eCommerce revenue development in the Fashion market in Finland
eCommerce revenue growth in the Fashion market in Finland
Net eCommerce revenue split by sub-category
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 31.9 | 81.9 | 85.5 | 7.5 | 4.0 | 39.5 | 72.1 | 7.7 |
Top stores
Top five Fashion online stores in Finland by net sales 2023
With sales in the Finnish Fashion market, zalando.fi generated a revenue of US$133.6 million in 2023, which means it is the leading online store in this market. The Fashion ranking of Finland is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.
eCommerce net sales generated in the Fashion market in Finland in 2023
| Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
|---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
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Payment Methods
Top 5 offered payment methods in the Finnish Fashion market
With 94.9% VISA the most commonly offered payment method of all online stores in the Finnish Fashion eCommerce market in 2023. Like VISA Mastercard with a share of 94.9% and American Express with a share of 49.2% the payment type Cards is the most common used by online retailers in in the Finnish Fashion eCommerce market in 2023. Other commonly used payment methods in that market are PayPal (E-wallets) with 49.2% and Bank transfer/cash in advance (Bank transfer) with 42.4% of stores offering that payment method to the clients.
Top 5 offered payment methods in the Finnish Fashion market
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Shipping Service Provider
Top 5 offered shipping providers in the Finnish Fashion market
Despite Posti's dominant position with 64.0% of online stores opting for its services, the Finnish Fashion 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 Fashion market
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Shop Software Solutions
Top 5 used shop software solutions in the Finnish Fashion market
Although Salesforce Commerce Cloud holds a commanding lead with 16.5% of online stores using the shop software solution, the Finnish Fashion eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including Shopify, Magento, WooCommerce, and MyCashflow, which collectively hold a significant share of the market.
Top 5 used shop software solutions in the Finnish Fashion market
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Market definition
Definition of the Fashion market
Market definition: Fashion The category Fashion encompasses the commercial (B2C) sale of apparel (e.g. jackets, t-shirts, joggers, underwear), footwear (e.g. sneakers, boots, sandals), bags (e.g. handbags, backpacks, suitcases), and accessories (e.g. hats, sunglasses, jewelry, watches) via digital channels. Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits), eye care (e.g. glasses and sunglasses with prescriptions) or beauty care (e.g. make-up, fragrances) are not included in this segment. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Apparel (e.g. jackets, t-shirts, joggers, underwear)
- Footwear (e.g. sneakers, boots, sandals)
- Bags (e.g. handbags, backpacks, suitcases)
- Accessories (e.g. hats, sunglasses, jewelry, watches)
Out-of-scope
- Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits)
- Eye care (e.g. glasses and sunglasses with prescriptions)
- Beauty care (e.g. make-up, fragrances)
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