Norway is a relatively small country in Europe, so it may not be the center of attention for international business headlines. What they are known for is being a large oil exporter and having a high GDP per capita. It’s no surprise that people have expendable incomes to spare that could definitely spill over into e-commerce sales.
Here are some statistics about to take note:
- Among the highest in the world in internet penetration at 98%
- Even older generations are well-connected to the internet, with 82% of people over the age of 55 using the internet daily.
- 65% of the population are active internet shoppers, according to the European E commerce Report 2019
- 83% of Norway is actively using social media, with Facebook and Instagram being the most prominent.
- The 16-24 age group are the heaviest social media users, with 96% of them being active.
- According to Statista, E-commerce produces nearly $5.7 billion in revenues this year.
- Rank #11 in GDP Per Capita, according to Worldometer
With Covid-19 shaking things up, there is even more demand for e-commerce compared to 2019 statistics, albeit through necessity over anything else. This is good news for Norwegian small & medium shops that already have foothold online.
Example of a Small Business Using E-commerce
Let’s take a look at a small Norwegian jewelry store, LYR Design.
This jewelry producer creating viking-inspired pieces primarly sells through their website. As any small local e-commerce store should, they actively market via their own own Facebook page, have an active blog section to aid with search engine discovery, and a page displaying special offers & discounts. This would be a perfect example of a full-fledged e-commerce store in Norway.
Some small businesses have a less-than optimal setup, with Instagram being their own “front page” on the internet, and sales being conducted through WhatsApp or over the phone rather than an on-page checkout process.
In any case, small brick & mortar businesses that have closed due to the pandemic will have to find their niche within the online market, or else have to wait for things to go back to normal.
What are Norwegian Consumers Buying?
According to Statista, the average household makes 220 Euro in online purchases per month. It’s hard to gauge recent statistics due to the pandemic, but with everyone depending on internet purchases for even basic needs, it could be quite a lot higher.
Fashion has always been, and continues to be the most dominant sector of e-commerce shopping. This includes shopping from local retailers and importing fashion items from foreign e-commerce platforms like Amazon.
Electronics are the second biggest hot category for Norwegian shoppers, and will likely overtake fashion in the near future.
What Sways the Norwegian Shopper?
The shopping experience is the biggest factor when setting up an e-commerce shop in Norway. According to the below graphic from Post Nord, having prices, delivery information, and item return terms were the most important features to have on your website.
For shoppers between the ages of 15 and 24, most purchases are made using mobile devices. If you were planning a website nowadays, make sure your shop is mobile-friendly over anything else.
It should also be noted that Debit Cards (rather than Credit Cards) are the primary means of payment in Norway. It is even much larger than those using PayPal or other payment platforms/apps.
The average shopper in Norway is already quite internet savvy and knows what they want, so there isn’t much ground to plow to get shoppers online. If you want to set up shop in Norway, promising fast delivery times, following shopping trends, and maintaining a presence on social media could get you a dedicated costumer base, even compared to other parts of Europe.