Swedish e-retail sales are expected to grow by 16% this year which would mean an increase of SEK 8 billion (€864 million) on 2015, according to a forecast from e-commerce association Svensk Digital Handel and HUI Research, conducted in cooperation with PostNord.
Continuous investment in omni-channel trade and increasing importance of mobile phones in the purchasing process are likely to boost consumers’ interest in the country’s e-commerce while a weak Swedish krona, pushing up import prices, is expected to keep consumption within the country, the forecast revealed.
More and more retailers in Sweden are adapting a multi-channel strategy when selling goods to consumers for “more seamless trading”. More than 60% of Swedish retail companies now sell via multiple channels and the proportion is expected to increase, with retail chains increasingly investing in their digital interfaces.
The mobile phone is expected to come increasingly into focus among Swedish consumers as more e-commerce players are making their platforms mobile-friendly which facilitates “mobile” purchases. The conversion rate via mobile phones is increasing. Thus, four in ten consumers bought goods via their mobile phones in 2015. The figure is expected to rise during the year with purchases becoming even less dependent on time and place.
“Swedish consumers demand simplicity and choice in their purchasing process. They want to shop at times that suit them and via the channels that are relevant for the moment. This requires companies to deliver flexible solutions to respond to customer's demands,” Carin Blom, retail analyst at PostNord Sweden, said.
According to the “Economic Assessment” from HUI Research issued in March 2016, total retail sales in Sweden are expected to grow by 4% in 2016. With 16% growth, e-commerce would thus grow four times faster than general retail sales this year, and increase its share of overall Swedish retail sales to 8%, according to the research.
“The 16% growth figure for this year is strong but not surprising as e-commerce is still growing and attracting new consumer types. For retailers who do not have a digital marketing strategy, the 2016 forecast is beyond their reach,” Blom added.
