Danish e-commerce crosses 100 billion kroner milestone

Online shopping now accounts for 10 percent of the total retail trade turnover

For the first time ever, the Danish e-commerce has passed the 100 billion kroner mark, reveals a new analysis from Dansk Erhverv (the Danish Chamber of Commerce).

Based on figures from Nets, the Nordic online payments service provider, the Danes have traded online for 103 billion kroner over the past year, which means that, on average, every Dane has spent about 18,000 kroner on the web.

According to Dansk Erhverv’s analysis, online shopping surged by 16.5 percent in the second quarter of this year compared to the same period last year, which corresponds to an increase of 2 billion kroner.

Henrik Hyltoft, the marketing manager at Dansk Erhverv, does not expect this trend to decline in the future.

READ MORE: Increase in Dankort spending in December

Preferring foreign web shops
The vast majority of the online transactions were paid by the national debit card Dankort.

E-commerce now accounts for 10 percent of the total retail trade turnover in Denmark.

However, the Danes are buying more and more of their products in foreign online shops, particularly when it comes to electronics, clothing and cosmetics.

“When the Danes choose to shop in foreign web shops, they do so at the expense of sales in both Danish online shops and brick-and-mortar stores,” Hyltoft told Finans.

“The high Danish costs mean that the Danish internet shops are far less attractive to foreign consumers than foreign web shops to Danish consumers. The foreign web shops beckon with products at a lower VAT and no duties.”