eCommerce market in Finland
Finland is the 42nd largest market for eCommerce with a predicted revenue of US$6,565.7 million by 2024, placing it ahead of Portugal. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 4.4%, resulting in a projected market volume of US$7,791.1 million by 2028. With an expected increase of 5.6% in 2024, the Finnish eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Finland, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Finnish eCommerce market. Hobby & Leisure is the largest market and accounts for 26.1% of the Finnish eCommerce revenue. It is followed by Electronics with 20.5%, Fashion with 17.1%, Furniture & Homeware with 11.7%, Care Products with 9.4%, DIY with 9.1%, and Grocery with the remaining 6.1%.
Monthly revenues
Monthly revenues in the Finnish eCommerce market
The monthly eCommerce revenue of the Finnish eCommerce market was US$572 million in October 2024. This refers to a growth of 17.5% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in November 2023 with 11.4% of the total 2023 revenue of the Finnish eCommerce market and the lowest in February 2024 with 7.3% of the total 2024 revenue.
Revenue Last Month
US$571.9m
The eCommerce revenue grew by 17.5% from September 2024 to October 2024.
Monthly revenue shares in the last 12 months
0-2024 | 1-2024 | 2-2024 | 3-2024 | 4-2024 | 5-2024 | 6-2024 | 7-2024 | 8-2024 | 9-2024 | 10-2024 | 11-2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Monthly revenue share (in %) | 52.7 | 3.0 | 64.6 | 63.1 | 38.9 | 46.3 | 70.8 | 15.8 | 28.0 | 72.0 | 43.2 | 58.9 |
Market development
eCommerce revenue development in Finland
Finland is the 42nd largest market for eCommerce with a predicted revenue of US$6,565.7 million by 2024, placing it ahead of Portugal. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 4.4%, resulting in a projected market volume of US$7,791.1 million by 2028. With an expected increase of 5.6% in 2024, the Finnish eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Finland, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Finnish eCommerce market. Hobby & Leisure is the largest market and accounts for 26.1% of the Finnish eCommerce revenue. It is followed by Electronics with 20.5%, Fashion with 17.1%, Furniture & Homeware with 11.7%, Care Products with 9.4%, DIY with 9.1%, and Grocery with the remaining 6.1%.
eCommerce revenue development in Finland
eCommerce revenue growth in Finland
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 96.0 | 60.1 | 86.5 | 56.8 | 42.7 | 34.5 | 31.1 | 77.4 |
Top stores
Top five online stores in Finland by net sales 2023
The biggest player in the Finnish eCommerce market is verkkokauppa.com. The store had a revenue of US$243.0 million in 2023. Store rankings include every store that generates revenue in Finland. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Finland was considered.
eCommerce net sales generated in Finland in 2023
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
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Payment Methods
Top 5 offered payment methods in the Finnish eCommerce market
With 95.6% VISA the most commonly offered payment method of all online stores in the Finnish eCommerce market in 2023. Like VISA Mastercard with a share of 95.6% and American Express with a share of 44.2% the payment type Cards is the most common used by online retailers in in the Finnish eCommerce market in 2023. Other commonly used payment methods in that market are Bank transfer/cash in advance (Bank transfer) with 56.8% and PayPal (E-wallets) with 37.4% of stores offering that payment method to the clients.
Top 5 offered payment methods in the Finnish eCommerce market
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Shipping Service Provider
Top 5 offered shipping providers in the Finnish eCommerce market
Despite Posti's dominant position with 66.2% of online stores opting for its services, the Finnish eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Matkahuolto, PostNord, Budbee Home Delivery, and DHL, hold smaller but significant shares, contributing to a dynamic and fragmented market.
Top 5 offered shipping providers in the Finnish eCommerce market
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Shop Software Solutions
Top 5 used shop software solutions in the Finnish eCommerce market
In the Finnish eCommerce market, there is intense competition among various shop software solutions, leading to a highly fragmented landscape in 2023. None of the major shop software solution, including Magento, Shopify, and WooCommerce, have been able to secure a market share exceeding 10.4%, suggesting a diversified market with numerous players holding smaller stakes.
Top 5 used shop software solutions in the Finnish eCommerce market
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