Electronics market in Iceland

The Icelandic Electronics eCommerce market is predicted to reach US$207.9 million by 2023 and accounts for 22.7% of the total eCommerce market in Iceland. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 4.6%, resulting in a projected market volume of US$248.9 million by 2027. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Market development

eCommerce revenue development in the Shavers market in Iceland

The Icelandic Shavers eCommerce market is predicted to reach US$2.5 million by 2023 and accounts for 36.3% of the Personal Care Appliances eCommerce market in Iceland. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 9.7%, resulting in a projected market volume of US$3.7 million by 2027. The Shavers eCommerce market is a sub-market of the Personal Care Appliances market. Further categories within the Personal Care Appliances market are: Electric Toothbrushes, Hair Dryers, and Other Personal Care Appliances.

eCommerce revenue development in the Shavers market in Iceland

in million US$

eCommerce revenue growth in the Shavers market in Iceland

in %

Net eCommerce revenue split by sub-category

in %
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 %) 41.8 76.1 45.7 10.0 14.1 61.3 0.6 99.6

Online share

eCommerce online share of the total Shavers market in Iceland

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 Icelandic Shavers retail market, the online share is 33.1% and will increase by an average of 1.5% to 35.0% by 2027.

eCommerce online share of the total Shavers market in Iceland

in %
2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 76.7% 98.6% 54.8% 97.5% 6.6% 11.4% 32.1% 36.2%

Market definition

Definition of the Shavers market within the Electronics market

Market definition: Electronics > Electrical Appliances > Personal Care Appliances > Shavers The category Shavers includes the online trade of electric razors (e.g. foil shavers, rotary shavers, wet and dry shavers) and trimmers. This category does not cover non-electric razors (e.g. safety razors, straight razors, disposable razors, cartridge razors, razor blades). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Electric razors (e.g. foil shavers, rotary shavers, wet and dry shavers)
  • Trimmers

Out-of-scope

  • Non-electric razors (e.g. safety razors, straight razors, disposable razors, cartridge razors, razor blades)