Norway Ecommerce 2020 - Consumer Statistics and Channel Recommendations
by Admin, on June 22, 2018
Norway has a population of 5.2 million, with 98% having access to the internet and 65% regularly shopping online every single month (source).
What this means for small/medium webshop owners is that there is a large customer base accessible through cross-border commerce.
- Revenue in the eCommerce market amounts to US$5,693m in 2020 (source).
- Revenue is expected to grow annually by 5.6%, resulting in a market volume of US$7,074m by 2024 (source).
- The market's largest segment is Electronics & Media with a market volume of US$1,835m in 2020 (source).
- User penetration is 83.6% in 2020 and is expected to reach 88.1% by 2024 (source).
What are the causes of Norway's e-commerce growth?
Ecommerce revenue (in millions of US dollars) by category in Norway from 2017-2024 (predicted) - data from December 2019 (source).
Consumers in Norway
The e-commerce industry in Norway is estimated to be worth about €8 billion a year. As the graph shows, electronics is the most popular online shopping category, while fashion, furniture, toys and food & personal care (health/beauty) follow.
The pie chart (above) shows that debit card payments are the preferred payment type - meaning that an efficient service from your online store is important.
For Norwegians, the biggest factors shaping their online purchasing experience (below, source) was that delivery info and price should be displayed clearly, as well as product information, shipping charges and returns policy.
So clarity through the entire purchase process can give you higher conversions and start building a loyal customer base in Norway. Now let's take a look at some channel options in Norway.
Recommended Shopping Channels in Norway
The current shopping trends are forcing merchants to diversify their multichannel strategy and to explore channels where people are actively searching for a product, wanting to seek the best possible deal.
Of course there are countless options for globally popular channels like Google in Norway and many channels are dependent on the products you are selling, so we have pulled out some channels more unique to the Norwegian market which you could consider:
Prisjakt is an international price comparison service launched in 2000 in Sweden. They have products listed in 8 countries: Norway, Sweden, Finland, Italy, France, New Zealand, UK, and Ireland. In Norway alone they have 497 000 products from 2456 stores.
In order to sell on Prisjakt.no you must:
- Have a Norwegian organization number and be VAT registered.
- Products need to be assigned to Prisjakt.no’s taxonomy, otherwise they will not be listed.
- Address and deliver to consumers in Norway and follow Norwegian Consumer Law.
As with any new export channel, Prisjakt also demand your product feed contain factors like Product id, category, URL, brand/manufacturer, product name, price, condition, availability.
You can get the full list of the Prisjakt product feed specifications and all the recommendations here.
Elkjøp, better known as Elgiganten outside Norway, is the largest consumer electronics retailer in the Nordic countries, with 400 stores in six countries and 10,000 employees.
Stocking everything electronic from cameras, tvs, gaming and white goods - this site ranks second on the list of most popular ecommerce stores in Norway, and is a go-to for thousands of shoppers across the country.
Talk to WakeupData's integrations experts about setting up an optimized feed for Elkjøp today.
Prisguiden.no is a Norwegian price comparison service and search engine for products. They offer a simple and complete starting point for Norwegian shoppers – including price comparison, test data, reviews and stock status.
It is a free service for users and is 100% neutral in its displaying of products. Contrary to other price comparison services, there are no extra costs once listed to give you more exposure to Norwegian customers .
The only requirements for your Prisguiden feed are price, product and image url, product name
but it is of course recommended that you include as much info as possible in your export feed, you can find their specifications here.
Komplett.no is a Norwegian ecomerce supplier stocking over 16 000 products, with nine webshops in 3 countries in Scandinavia.
The main part of their product assortment is computers and components, but they have also expanded in recent yeras to include photographic, Hi-Fi, TV, gaming and white goods.
In 2018 Komplett ranked as the best selling ecommerce retailer in the country, with a growing customer base across the Nordics of over 900 000 (source).
Miinto is a Danish company operating in Denmark, Sweden, Holland and Norway - offering the largest fashion selection in Scandinavia.
They offer services hosting hundreds of stores to over 1 million customers to offer a wide selection of styles and items.
Requirements for your product feed include product urls, no HTML markup, title, descriptions, price, brand, color, size and image link.
You can check out their full list of Feed Requirements here.
Conclusion: Selling in Norway
Check out how we helped Oslo-based company, Festmagasinet, to grow their impressions, clicks and revenue by setting up effective Custom Labels for their Google Shopping Ads.