Finland Ecommerce 2020 - Consumer Statistics and Channel Recommendations

by Admin, on June 28, 2018

Finland has one of the highest percentages in the world of population with access to the internet (97%), of which 72% regularly shops online - the vast majority of which is cross-border commerce (source).

In this guide, get the details of e-commerce performance in Finland and what consumers look for when purchasing online.

Although lower in terms of regular e-commerce customers in comparison to its Nordic neighbours, there is an increasing trend of e-commerce growth, with an expansion of 20% in the last 5 years (source) and user penetration in Finland is expected to hit 73.7% with 4.1 million online shoppers by 2022 (source).

This high level of purchasing from abroad means there is a clear opportunity for retailers to acquire a customer base in Finland. 

  • Revenue in the eCommerce market amounts to US$3,014m in 2020 (source).
  • Revenue is expected to show grow annually by 5.6%, leading to a predicted market volume of US$3,751m by 2024 (source).
  • The market's largest segment is Electronics & Media with a market volume of US$786m in 2020 (source).
  • User penetration is 84.0% in 2020 and is expected to reach 91.6% in the next 4 years (source).
  • The average revenue per Finnish shopper currently amounts to US$647.53 (source).
  •  

What is driving Finland's
e-commerce growth?

finland ecommerce growth

The combination of Finland’s comparatively low level of e-commerce experience and high proportion of the population shopping from abroad (46%) means that the distribution of market share is still very much up for grabs.
In other words, up-and-coming e-commerce businesses from throughout Europe have solid opportunities to reshape the local market. 
 
Finland purchases
As the graphic above shows (source), the keys to gaining a foothold in the Finnish market (beyond the obvious overall price) are the same as for the rest of the Nordics: 
clear pricing, clear product information, an easily navigable site, customer service and a multichannel strategy that utilises Finnish channel preferences
  

 

Consumers in Finland

Due to the high levels of Finnish consumers that shop abroad, they have the lowest expectations among all the Nordic countries regarding delivery times.

Accordingly, the percentage of Finnish online shoppers who consider it important to receive information about when their delivery will arrive is also the lowest of all the Nordic countries (see bar chart below, source). 
 

Finland specifications

 

Shopping channels in Finland - which to use?

 

Verkkokauppa.com 

verkkokauppa

Verkkokauppa.com Oyj is Finland’s largest and most visited online retailer that offers over
65 000 different items from 25 main categories including electronics, outdoor, home and kitchen. The company sells its products through four megastores and over 2500 pickup locations in Finland, as well as home delivery and installment.

Get in touch with a customer success manager at WakeupData and we can let you know exactly what is needed to set up an fully-working, optimized integration with Verkkokauppa.

 

Vertaa
 vertaa screenshot WakeupData

Vertaa.fi is Finland's largest reference site where consumers can compare products based on price, delivery time and other customer reviews - with a dedicated base of nearly one million visitors a month. 

They list over 4 million products and generate leads for online shopping with "cost-per-click" pricing.

As with any e-commerce channel, there are a number of fields required to be filled out in the product feed you export to Vertaa. These include: Category, name, price, brand product ID, delivery time, shipping method, delivery price and service country code - you can view the full list here.

Get in touch with a customer success manager at WakeupData and we can let you know exactly what is needed to set up an fully-working, optimized integration with Vertaa.fi.

 

Kelkoo

Kelkoo export WakeupData

Kelkoo is a comparison shopping engine which offers integrated services for online shopping, increasing online sales by advertising products through highly targeted ad placements across a network of premium publishers. Founded in 1999, they are now present across 22 countries across Europe including Finland in which it is one of the most implemented channels for e-commerce sales. 

Neccessary fields for your Kelkoo export the include unique id of each product, title, price, URL to your webstore and availability. Check out their full feed specifications here

The good thing is that you only pay when customers are redirected to your store from Kelkoo. You can use our pre-made template to create your Kelkoo product feed with WakeupData now and start selling.

 

Prisjakt (hintaopas.fi)

Prisjakt export WakeupData

Prisjakt is a price and product comparison service on the Internet operated by Prisjakt Sverige AB. At Prisjakt (aka "hintaopas" in Finland), consumers can compare prices and characteristics of products as well as read other user reviews on products and retailers. 

Join one of the best price comparison services in northern Europe and benefit from a high-quality and up-to-date WakeupData product feed.

Required: product ID, category, url, brand, price, condition, availability (get the full list of Prisjakt feed requirements here)

 

Your multi-channel strategy in Finland

Online shopping is already widely adopted in Germany and the ecommerce market is predicted to keep growing. They boast one of the strongest markets in Europe with 
well-established names - both multinational and local. 

Our feed marketing platform offers a user-friendly interface for online store owners and digital marketing agencies to manage data for multiple export channels in one place.

CSS Implementation - 1.001

We are also a Google CSS Partner - meaning we can give a 20-25% discount to merchants wanting to sell across nine European markets, including Finland, Denmark, Germany, Sweden, Norway and the Netherlands. Find out more info below:

Google CSS Partner

 

Reaching out to your Finnish audience

There is a rapidly growing number of Finnish consumers want to shop online and are on the same technological level as the other Nordic countries.

E-commerce is growing rapidly, the domestic supply is not enough, leaving untapped potential for companies from overseas to gain a foothold with  carefully planned e-commerce strategies.

Grab our eCommerce Guide to Selling in the Nordics below 👇

E-commerce-guide-to-the-Nordics---ebook-preview

Find out more about Data feed management or get your free evaluation  here.

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Topics:tips & tricksWorld Ecommerce