Introduction 3
Ecommerce Trends 4
Payment Trends 5
France - Economic Overview, eCommerce Trends, Payment Trends 6
Germany - Economic Overview, eCommerce Trends, Payment Trends 9
Italy - Economic Overview, eCommerce Trends, Payment Trends 12
Netherlands - Economic Overview, eCommerce Trends, Payment Trends 15
Poland - Economic Overview, eCommerce Trends, Payment Trends 18
Russia - Economic Overview, eCommerce Trends, Payment Trends 21
Spain - Economic Overview, eCommerce Trends, Payment Trends 24
Sweden - Economic Overview, eCommerce Trends, Payment Trends 27
United Kingdom - Economic Overview, eCommerce Trends, Payment Trends 30
Table of Contents
European Country Profile eBook | 2
“Europe” is the third largest region in the world by population, behind Asia and Africa, and is usually taken to include Russia, the largest country in the world, although much of Russia is geographically in Asia.
In 2019, Europe’s population numbered 747,182,751, representing 9.7% of total global population, down from 22.7% in 1995. Europe is ageing overall at a gradual pace, with median age rising to 41.7 from 29.5 in 1955, though the rate of increase is much higher in some countries. About three-quarters of Europeans live in cities and towns.1
Europe is a rich region by global standards. In 2019, Europe’s nominal GDP was $21.79 trillion, just behind East Asia ($22.05 trillion) and North America ($24.43 trillion).2 Per capita GDP was $29,410, only exceeded by North America ($49,240). However, there is wide variation in incomes between the countries of Europe: per capita GDP in the advanced nations of Western Europe is $49,240, the same as in North America, but in Eastern Europe it is much lower, at only $11,320.
European Country Profile eBook
Economic Overview
Growth has been slow across Europe in the aftermath of recent economic crises.
Currently, 28 European countries are members of the European Union (EU), though this is set to fall to 27 when the United Kingdom leaves. Five countries (Albania, the Republic of North Macedonia, Montenegro, Serbia and Turkey) are currently in the process of joining the EU, though this process can take a very long time and success is not guaranteed.3 Four countries (Iceland, Norway, Switzerland and Liechtenstein) have opted not to join the EU, but three of these are members of the European Economic Area (EEA) which gives them membership of the EU’s single market,4 while the fourth (Switzerland) has a free trade agreement with the EU.5
The Commonwealth of Independent States (CIS) consists of former members of the Soviet Union, about half of which are European countries. Russia is by far the largest and most dominant country in this association, and many of the other members are economically dependent on it.6
[1] All statistics from Worldometer: Link
[2] IMF World Economic Outlook, 2019: Link
[3] European Commission: Link
[4] EEA, European Free Trade Association: Link
[5] European Free Trade Association: Link
[6] Commonwealth of Independent States: Link
European Country Profile eBook | 3
Western Europe is a large and prosperous eCommerce market. Retail eCommerce sales in the five biggest Western European countries (Germany, France, Italy, Spain and the United Kingdom) are expected to pass $315 billion in 2019 and reach $400 billion by 2022.7 These five countries make up about half of total European eCommerce.8 Currently, the United Kingdom is the largest market, generating nearly $79 billion in eCommerce revenue in 2019. But eCommerce growth in the United Kingdom is slowing down as the market matures, and other countries such as Germany may surpass it in the next few years.9 Western Europe’s ecommerce market also faces growing uncertainty as the United Kingdom prepares to leave the EU and global trade tensions rise.
Ecommerce Trends
[7] eMarketer: Link
[8] eCommerce News: Link
[9] Statista: Link
[10] Eastern Europe & CIS, PPRO: Link
Eastern Europe is currently a much smaller market, reflecting the less developed financial infrastructure and poorer populations of these countries. However, it is growing at an average rate of 19%. In 2019, 3.6% of retail sales were made online, and the average consumer spend is $705. Russians particularly like to shop online: 62% of Russians shopped online in 2019, against the 47% average for the region as a whole. Popular shopping destinations are China, Russia and Germany.10 As payments infrastructures and internet penetration improve, and financial inclusion deepens, ecommerce in Eastern Europe may start to catch up with the more mature Western market, though U.S. and European sanctions may make it difficult for Russia’s ecommerce market to develop.
European Country Profile eBook | 4
Europe is notable for its diversity of payment methods. Cards, bank transfers, digital wallets and cash are all popular, though cultural differences mean that preferred methods of payment can vary widely across the region. In Western Europe, credit and debit cards are the most frequently used payment method for online purchases, followed by digital wallets and bank transfers.11 In Eastern Europe, credit cards are the most popular method, followed by cash, digital wallets and bank transfers.12 Smartphone apps that make it easy for customers to make online purchases directly from their bank accounts or credit cards are growing in popularity throughout the region. Contactless payments using cards or smartphones are becoming ubiquitous in Western European countries, but in some Eastern European countries, cash is still widely used.13
The European Union’s single payments area (SEPA) covers not only the 28 EU members but also the three EEA members,
European payments infrastructure
plus Switzerland, San Marino and Monaco. It enables people to make online payments in Euros to people and businesses in other SEPA European countries as easily as they can within those countries.14 In November 2018, the EU introduced its Target Instant Payment Settlement (TIPS) system, enabling Euro payments to be settled in real time anywhere in the Euro area. Non-euro countries also have real-time settlement for domestic payments: for example Faster Payments was introduced in the U.K. in 200815 and Bankgirot in Sweden in 2012.16 However, real-time cross-border payments involving more than one European currency are still a work in progress.
At the present time, the CIS countries do not have a common currency and cross-border payments systems are undeveloped. Cash remains the dominant form of payment for online purchases. However, ubiquity of mobile phones in the region may mean that mobile payments platforms will provide an alternative in the future.
[11] Westen & Central Europe, PPRO: Link
[12] Eastern Europe & CIS, PPRO, ibid.
[13] Eastern Europe & CIS, PPRO, ibid.- where in the text?
[14] SEPA, European Commission: Link
[15] Faster payments: Link
[16] Bankgirot: Link
European Country Profile eBook | 5
[1] World Bank: Link
[2] World Bank: Link
[3] Eurostat: Link
[4] World Bank: Link
[5] World Bank: Link
[6] World Bank: Link
[7] International Telecommunications Union: Link
[8] Spotlight, World Bank: Link
[9] World Bank: Link
[10] World Bank: Link
82.4%
87%
of France’s population use the internet (2019)7
of adults have a mobile phone8
With nominal GDP of $2.78 trillion,1 France is the third largest economy in Europe and the sixth largest economy in the world. It is a founder member of the European Union and uses the Euro as its currency. France has a mixed economy and its principal industries are energy, manufacturing, technology and transport. It trades mainly with other EU
France
countries, though it also has strong economic ties with its former colonies in Africa and South America. Challenges include an unemployment rate of around 9%;2 public debt/GDP in excess of 90%;3 and an external deficit of about 0.7% of GDP.[4]
66.987
$ 41,463
Population:
million (2018)5
(2018)6
GDP per capita
94%
41%
of the population have bank accounts (men 91%, women 97%) 9
of the population use credit cards10
Key Statistics At A Glance
European Country Profile eBook | 6
[11] Statista: Link
[12] Statista, ibid.
[13] Statista, ibid.
[14] Statista, ibid.
[15] Global Connected Commerce Report 2016, Nielsen: Link
[15] World Bank: Link
[16] Statista, ibid.
[17] Statista, ibid.
[18] Missing
France
Major ecommerce categories (percentage of total revenue):18
Fashion Toys, hobby & DIY Electronics & media Furniture & appliances Food & personal care
33%20%
19%17%
11%
Ecommerce Trends
$42,674m $949.80 (2019)44.9 million (69% of population)
Ecommerce revenue11
Ecommerce users12
Average Ecommerce revenue per user13
8% (2018-23)
Percentage of population making online purchases15
Cross-border online purchases (percentage of total)14
Projected ecommerce revenue compound annual growth rate (CAGR)17
18.11% (2015-16) 59%Ecommerce growth rate16
3%
European Country Profile eBook | 7
Popular Payment Methods
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019
© 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
France
Credit cardCash
PayPalDebit or ATM card
Check/chequeDirect debit from checking/chequing account
Merchant gift cardBank transfer
MasterPass by MasterCardCash on delivery (COD)
Pre-paid debit cardVisa Checkout
Amazon PayApple Pay
Google PayNone of these
PaylibBitcoin
PaySafeCard
61%54%
45%43%
36%
1%1%2%2%3%3%4%5%5%6%7%
9%16%
18%
European Country Profile eBook | 8
[19] World Bank: Link
[20] World Bank: Link
[21] World Bank: Link
[22] World Bank: Link
[23] International Telecommunications Union: Link
[24] Spotlight, World Bank: Link
[25] World Bank: Link
[26] World Bank: Link
89.74%
89%
of Germany’s population use the internet (2019)23
of adults have a mobile phone24
Germany’s nominal GDP of nearly $4 trillion makes it the largest economy in Europe and the fourth largest in the world. It is a member of the G7 group of advanced countries. As a founder member of the European Union, it was one of the first EU countries to adopt the Euro as its currency. Germany is a manufacturing-led economy with strengths
Germany
in engineering, electronics and transport. Unemployment is very low, but persistently low wage growth and a strong household saving habit tend to depress domestic demand, so Germany’s GDP growth comes mainly from its strong export sector.19 As exports exceed imports by some distance, Germany runs a sustained external surplus which in 2018 was 7.286% of GDP20.
82.927
$ 48,195
Population:
million (2018)21
(2018)22
GDP per capita
99%
53%
of the population have bank accounts25
of the population use credit cards26
Key Statistics At A Glance
European Country Profile eBook | 9
[27] Statista: Link
[28] Statista, ibid.
[29] Statista, ibid.
[30] Statista, ibid.
[31] Global Connected Commerce Report 2016, Nielsen: Link
[32] World Bank: Link
Germany
Major ecommerce categories (percentage of total revenue):34
Ecommerce Trends
$74,228m $1,093.7667.9 million (81.3% of population)
Ecommerce revenue27
Ecommerce users28
Average Ecommerce revenue per user29
Electronics & media Fashion Toys, hobby & DIY Furniture & appliances Food & personal care
8.8% (2018-23)
Percentage of population making online purchases31
Cross-border purchases (percentage of total)30
Projected ecommerce revenue compound annual growth rate (CAGR)33
19.87% (2015-16) 73%Ecommerce growth rate32
2%
27%25%
21%15%
12%
European Country Profile eBook | 10
Popular Payment Methods
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019 © 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
Germany
PayPalPay with Invoice
CashBank transfer
Direct debit from checking/chequing accountCredit card
Debit or ATM cardKlarna
Merchant gift cardAmazon Pay
SofortMasterPass by MasterCard
Pre-paid debit cardGiroPay
Cash on delivery (COD)Visa CheckoutNone of these
PaySafeCardBitcoinAlipay
70%58%57%
56%49%
1%0%
2%2%3%4%5%5%6%
13%15%
19%21%
26%45%
European Country Profile eBook | 11
[35] World Bank: Link
[36] World Bank: Link
[37] Eurostat: Link
[38] World Bank: Link
[39] World Bank: Link
[40] International Telecommunications Union: Link
[41] Spotlight, World Bank: Link
[42] World Bank: Link
[43] World Bank: Link
74.39%
97%
of Italy’s population use the internet (2019)40
of adults have a mobile phone41
Italy is the fourth largest economy in Europe, with nominal GDP of just over $2 trillion in 2018.35 It is a founder member of the European Union and uses the Euro as its currency. Italy’s economy grew rapidly after the destruction of World War II, with the North becoming a powerhouse for textiles
Italy
and automobile production, and the South a popular tourist location. However, since 1980 it has been on a rollercoaster ride of successive booms and slumps. Challenges include high unemployment (currently around 10%),36 slow economic growth and public debt/GDP in excess of 132% of GDP.37
60.438
$34,318
Population:
million (2018)38
(2018)39
GDP per capita
94%
42%
of the population have bank accounts (men 92%, women 96%)42
of the population use credit cards43
Key Statistics At A Glance
European Country Profile eBook | 12
[44] Statista: Link
[45] Statista, ibid.
[46] Statista, ibid.
[47] Statista, ibid.
[48] Global Connected Commerce Report 2016, Nielsen: Link
[49] World Bank: Link
[50] Statista, ibid.
[51] Statista, ibid.
Italy
Ecommerce Trends
$15,833m $400.5639.5 million (65.3% of population)
Ecommerce revenue44
Ecommerce users45
Average Ecommerce revenue per user46
Major ecommerce categories (percentage of total revenue):51
Electronics & media Fashion Toys, hobby & DIY Furniture & appliances Food & personal care
10.4% (2018-23)
Percentage of population making online purchases48
Cross-border purchases (percentage of total47
Projected ecommerce revenue compound annual growth rate (CAGR)50
16.54% (2015-16) 79%Ecommerce growth rate49
4%
29%29%
17%13%
12%
European Country Profile eBook | 13
Popular Payment Methods
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019
© 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
Italy
PayPalCash
Credit cardDebit or ATM card
Pre-paid debit cardBank transfer
Merchant gift cardCash on delivery (COD)
MasterPass by MasterCardDirect debit from checking/chequing account
Amazon PayCartaSi/Nexi
Visa CheckoutCheck/cheque
Apple PayAlipay
None of theseBitcoin
JiffyPaySafeCard
65%49%49%
42%30%
1%1%
1%1%2%3%5%6%
8%9%
12%15%
19%21%23%
European Country Profile eBook | 14
[52] World Bank: Link
[53] World Bank: Link
[54] Eurostat: Link
[55] World Bank: Link
[56] World Bank: Link
[57] International Telecommunications Union: Link
[58] Spotlight, World Bank: Link
[59] World Bank: Link
[60] World Bank: Link
94.71%
91%
of the population uses the internet (2019)57
of adults have a mobile phone58
The Netherlands is currently the seventh largest economy in Europe, with nominal GDP in 2018 of $914 billion.52 Most of its territory is in Western Europe, but it also has six colonies in the Caribbean. The Netherlands is a founder member of the EU, and in Europe uses the Euro as its currency. It
Netherlands
is a major exporter, particularly of food and agricultural products, and as a result runs a sustained external surplus which in 2018 was 10.8% of GDP.53 The Netherlands enjoys low unemployment and stable fiscal finances, with public debt/GDP of 54% in 2018.54
17.231
$ 53,024
Population:
million (2018)55
(2018)56
GDP per capita
100%
39%
of the population have bank accounts59
of the population use credit cards60
Key Statistics At A Glance
European Country Profile eBook | 15
[61] Statista: Link
[62] Statista, ibid.
[63] Statista, ibid.
[64] Statista, ibid.
[65] World Bank: Link
[66] Statista, ibid.
[67] Statista, ibid.
Netherlands
Ecommerce Trends
$ 14,534 m $1,030.6114.1 million (82.5% of population)
Ecommerce revenue61
Ecommerce users62
Average Ecommerce revenue per user63
Major ecommerce categories (percentage of total revenue):67
Fashion Electronics & media Toys, hobby & DIY Furniture & appliances Food & personal care
(2019)
34%24%
18%15%
9%
7.4% (2018-23)
Cross-border purchases (percentage of total)64
Projected ecommerce revenue compound annual growth rate (CAGR)66
20.63% (2015-16)
Ecommerce growth rate65
6%
European Country Profile eBook | 16
Popular Payment Methods
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019 © 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
Netherlands
iDEALDebit or ATM card
CashBank transfer
Credit cardMerchant gift card
Direct debit from checking/chequing accountPayPalKlarna
MasterPass by MasterCardPre-paid debit card
None of theseCash on delivery (COD)
AlipayApple Pay
BitcoinPaySafeCard
86%80%
57%33%
31%
1%1%1%2%2%2%
4%8%8%
26%27%
30%
European Country Profile eBook | 17
77.54%
89%
of Poland’s population use the internet (2019)74
of adults use a mobile phone75
The Third Polish Republic was established in 1989 when communist rule was ended by popular vote. Poland joined NATO in 1997 and the European Union in 2004, though it has not yet adopted the Euro. Poland’s economy grew rapidly after market-friendly reforms were introduced, becoming the 10th largest economy in Europe with nominal GDP of $586 billion in 2018.68 Agriculture is Poland’s
[68] World Bank: Link
[69] Industry Europe: Link
[70] World Bank: Link
[71] World Bank: Link
[72] World Bank: Link
[73] World Bank: Link
[74] International Telecommunications Union: Link
[75] Spotlight, World Bank: Link
[76] World Bank: Link
[77] World Bank: Link
Poland
principal industry, employing over 12% of the workforce.69 Unemployment has fallen from 12% in 1990 to under 4% in 2018,70 and inflation, which exceeded 600% in 1990, is under 2%.71 However, Poland’s population is poorer than the average for European Union countries and less digitally connected.
37.978
$ 15,424
Population:
million (2018)72
(2018)73
GDP per capita
87%
17%
of population have bank accounts (men 88%, women 85%)76
of the population use credit cards77
Key Statistics At A Glance
European Country Profile eBook | 18
[78] Statista: Link
[79] Statista, ibid.
[80] Statista, ibid.
[81] Statista, ibid.
[82] Global Connected Commerce Report 2016, Nielsen: Link
[83] World Bank: Link
[84] Statista, ibid.
[85] Statista, ibid.
Poland
Ecommerce Trends
$9,690m $367.7426.3m (69.5% of population)
Ecommerce revenue78
Ecommerce users79
Average Ecommerce revenue per user80
Major ecommerce categories (percentage of total revenue):85
Fashion Electronics & media Toys, hobby & DIY Furniture & appliances Food & personal care
11.7% (2018-23)
Percentage of population making online purchases82
Cross-border purchases (percentage of total)81
Projected ecommerce revenue compound annual growth rate (CAGR)84
19.63% (2015-16) 34%Ecommerce growth rate83
6%
47%18%
16%13%
12%
European Country Profile eBook | 19
Popular Payment Methods
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019
© 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
Poland
Bank transferCash
Debit or ATM cardPayU
PayPalCash on delivery (COD)
Credit cardMerchant gift card
BlikMasterPass by MasterCard
Pre-paid debit cardVisa Checkout
Google PayApple Pay
None of theseBitcoin
PaySafeCard
70%67%
54%53%
41%
1%1%1%2%
7%9%9%
13%25%26%
31%40%
European Country Profile eBook | 20
80.86%
97%
of Russia’s population use the internet (2019)89
of adults have a mobile phone90
Russia is the largest country on earth by geographic area, though the population is largely concentrated in western districts. Formed after the dissolution of the Soviet Union in 1992, the Russian Federation is among the ten biggest economies in the world, a military power and a permanent member of the UN Security Council. It is a major oil exporter
[86] World Bank: Link
[87] World Bank: Link
[88] World Bank: Link
[89] International Telecommunications Union: Link
[90] Spotlight, World Bank: Link
[91] World Bank: Link
[92] World Bank: Link
Russia
and the principal supplier of natural gas to much of Europe. In 2014-5 Russia experienced an economic recession due to a falling oil price, but it recovered quickly and GDP growth for 2018 came in at 2.255% per annum.86 However, rising political tensions between Russia and advanced Western countries could derail its economic growth.
144.478
$ 11,289
Population:
million (2018)87
(2018)88
GDP per capita
76%
20%
of the population have bank accounts91
of the population use credit cards92
Argentina
06
With more than 42 million residents, Argentina is the largest Spanish-speaking country in the world. Its capital, Buenos Aires, is also the most visited city in all of South America. While there are plenty of urban-centric landmarks, Argentina is also a nature lover’s paradise, with a slew of outdoor activities available in the mountainous Patagonia region in the south. In 2017, the nation’s GDP reached $637.43 billion (USD). The Argentinian peso was devalued by half against the dollar in 2018, resulting in enormous domestic interest rates and an IMF rescue of $57 billion.
The country has one of Latin America’s largest mobile markets with 61 million connections. Online purchases have become the norm within this demographic, with 90% of connected Argentinians making online purchases.
Internet Penetration:
79%
Mobile Penetration:
73%GDP per capita:
$14,399
Population:
44.27 million
Key Statistics At A Glance
European Country Profile eBook | 21
7.5% (2018-23)
Percentage of population making online purchases97
Projected ecommerce revenue compound annual growth rate (CAGR)99
[93] Statista: Link
[94] Statista, ibid.
[95] Statista, ibid.
[96] Statista, ibid.
[97] Global Connected Commerce Report 2016, Nielsen: Link
[98] World Bank: Link
[99] Statista, ibid.
[100] Statista, ibid.
Russia
23.26% (2015-16)64%Ecommerce growth rate98
Ecommerce Trends
$18,613m $189.6798.1m (67.3% of population)
Ecommerce revenue93 Ecommerce
users94
Average Ecommerce revenue per user95
Major ecommerce categories (percentage of total revenue):100
Fashion Electronics & media Toys, hobby & DIY Furniture & appliances Food & personal care
32%24%
21%14%
9%
European Country Profile eBook | 22
Popular Payment Methods
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019
© 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
Russia
CashDebit or ATM card
Yandex MoneyCredit card
PayPalVisa QIWI Wallet
Bank transferMerchant gift card
MasterPass by MasterCardPre-paid debit card
Direct debit from checking/chequing accountCash on delivery (COD)
AlipayGoogle Pay
Visa CheckoutApple Pay
Samsung PayNone of these
Bitcoin
77%76%
37%30%
26%
1%1%
3%4%
6%6%6%7%8%9%
13%15%
20%22%
European Country Profile eBook | 23
86.11%
94%
of Spain’s population use the internet (2019)106
of adults have a mobile phone107
Spain is the sixth largest economy in Europe, with nominal GDP totalling $1.426 trillion in 2018.101 Between 1975 and 1982 Spain transitioned from a military dictatorship to a liberal democracy. It joined the European Economic Community (now the European Union) in 1986 and adopted the Euro in 1999. Spain suffered a severe downturn in the Eurozone
[101] World Bank: Link
[102] World Bank: Link
[103] World Atlas: Link
[104] World Bank: Link
[105] World Bank: Link
[106] International Telecommunications Union: Link
[107] Spotlight, World Bank: Link
[108] World Bank: Link
[109] World Bank: Link
Spain
crisis of 2012-13, as a result of which unemployment rose to 26% and, six years on, is still very high at 15.5%.102 Spain is the world’s third-largest tourist destination, and its top exports are pharmaceuticals, automobiles and citrus fruits.103
Most of its exports go to other EU countries, notably France, Germany and Italy.
46.723
$30,524
Population:
million (2018)104
(2018)105
GDP per capita
94%
54%
of population have bank accounts (men 92%, women 96%)108
of the population use credit cards109
Key Statistics At A Glance
European Country Profile eBook | 24
[110] Statista: Link
[111] Statista, ibid.
[112] Statista, ibid.
[113] Statista, ibid.
[114] Global Connected Commerce Report 2016, Nielsen: Link
[115] World Bank: Link
[116] Statista, ibid.
[117] Statista, ibid.
Spain
Ecommerce Trends
$17,999m $519.9934.6m (74.1% of population)
Ecommerce revenue110 Ecommerce
users111
Average Ecommerce revenue per user112
Major ecommerce categories (percentage of total revenue):117
Electronics & media Fashion Toys, hobby & DIY Food & personal care Furniture & appliances
10.4% (2018-23)
Percentage of population making online purchases114
Cross-border purchases (percentage of total)113
Projected ecommerce revenue compound annual growth rate (CAGR)116
6.67% (2015-16)63%Ecommerce growth rate115
5%
30%28%
17%13%
12%
European Country Profile eBook | 25
Popular Payment Methods
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019
© 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
Spain
CashCredit card
PayPalDebit or ATM card
Bank transferDirect debit from checking/chequing account
Merchant gift cardPre-paid debit card
Cash on delivery (COD)MasterPass by MasterCard
Amazon PayVisa Checkout
BBVA WalletApple Pay
Google PaySamsung PayNone of these
BitcoinPaySafeCard
63%58%
56%49%
24%
1%1%1%2%
4%4%5%6%7%8%
10%16%
18%19%
European Country Profile eBook | 26
92.14%
94%
of Sweden’s population use the internet (2019)122
of adults have a mobile phone123
With nominal GDP of of $551 billion, Sweden is the biggest of the Nordic economies and the 11th largest in Europe. It joined the European Union in 1995, but has not yet adopted the Euro. Sweden has an export-oriented manufacturing-led economy of which engineering output forms approximately half; telecommunications, pharmaceuticals and automobile
[118] World Atlas: Link
[119] Riksbank: Link
[120] World Bank: Link
[121] World Bank: Link
[122] International Telecommunications Union: Link
[123] Spotlight, World Bank: Link
[124] World Bank: Link
[125] World Bank: Link
Sweden
manufacture are also important.118 Sweden’s generous welfare state is supported by higher levels of tax than the average for European countries. Sweden is close to becoming a cashless economy: in 2018, a survey by the country’s central bank found that only 13% of adults used cash for purchases.119
10.183
$54,112
Population:
million (2018)120
(2018)121
GDP per capita
100%
45%
of population have bank accounts124
of the population use credit cards125
Key Statistics At A Glance
European Country Profile eBook | 27
[126] Statista: Link
[127] Statista, ibid.
[128] Statista, ibid.
[129] Statista, ibid.
[131] Statista, ibid.
[132] Statista, ibid.
Sweden
Ecommerce Trends
$10,286m $1,269.358.1m (80.7% of population)
Ecommerce revenue126 Ecommerce
users127
Average Ecommerce revenue per user128
Major ecommerce categories (percentage of total revenue):132
Electronics & media Fashion Toys, hobby & DIY Food & personal care Furniture & appliances
31%26%
16%15%
12%
6.8% (2018-23)
Cross-border purchases (percentage of total)129
Projected ecommerce revenue compound annual growth rate (CAGR)131
16.22% (2015-16)
Ecommerce growth rate130
3%
European Country Profile eBook | 28
Popular Payment Methods
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019
© 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
Sweden
Debit or ATM cardKlarnaSwishCash
Bank transferCredit card
PayPalMerchant gift card
MasterPass by MasterCardCash on delivery (COD)
Pre-paid debit cardVisa CheckoutNone of these
Apple PayPaySafeCard
BitcoinSamsung Pay
72%62%
52%49%
40%
1%1%2%2%2%
6%6%6%
13%32%
35%37%
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94.9%
95%
of Sweden’s population use the internet (2019)137
of adults have a mobile phone138
The United Kingdom of England, Scotland, Wales and Northern Ireland (U.K.) is the second largest economy in Europe and the fifth largest in the world, with nominal GDP of $2.8 trillion in 2018.133 It is a member of the Group of 7 (G7) advanced nations, a major military power and one of only five countries to have a permanent seat on the United Nations Security Council. The U.K. joined the European Union in 1972, but has not adopted the Euro: its currency, the pound, is one of the world’s major reserve
[133] World Bank: Link
[134] World Atlas: Link
[135] World Bank: Link
[136] World Bank: Link
[137] International Telecommunications Union: Link
[138] Spotlight, World Bank: Link
[139] World Bank: Link
[140] World Bank: Link
United Kingdom
currencies. The U.K. is a global financial hub and has mature ecommerce and payments industries: manufacturing, aerospace, construction, oil & gas production and tourism are also important.134 In 2016, the U.K. voted to leave the European Union; it was scheduled to leave at the end of March 2019, but the date was delayed until the end of October 2019 to allow time to reach agreement with the EU on the terms of exit.
66.489
$42,491
Population:
million (2018)135
(2018)136
GDP per capita
96%
65%
of population have bank accounts139
of the population use credit cards140
Key Statistics At A Glance
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[141] Statista: Link
[142] Statista, ibid.
[143] Statista, ibid.
[144] Statista, ibid.
[145] Global Connected Commerce Report 2016, Nielsen: Link
[146] World Bank: Link
[147] Statista, ibid.
[148] Statista, ibid.
United Kingdom
Ecommerce Trends
$78,903m $1,325.559.5m (88.1% of population)
Ecommerce revenue141 Ecommerce
users142
Average Ecommerce revenue per user143
Major ecommerce categories (percentage of total revenue):148
Fashion Toys, hobby & DIY Electronics & media Furniture & appliances Food & personal care
5.9% (2018-23)
Percentage of population making online purchases145
Cross-border purchases (percentage of total)144
Projected ecommerce revenue compound annual growth rate (CAGR)147
13.63% (2015-16)52%Ecommerce growth rate146
4%
30%19%19%
15%5%
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Popular Payment Methods
United Kingdom
Sources: Consumer Technographics Global Online Benchmark Survey (Part 1), 2019
© 2019 Forrester Research, Inc. All of Forrester’s Technographics data is confidential and for internal use only. Any external distribution is strictly prohibited.
Debit or ATM cardCash
Credit cardPayPal
Direct debit from checking/chequing accountBank transfer
Visa CheckoutCheck/cheque
Merchant gift cardApple Pay
Pre-paid debit cardAmazon Pay
Cash on delivery (COD)Google Pay
MasterPass by MasterCardNone of these
BitcoinKlarna
PaySafeCardSamsung Pay
71%69%
58%58%
38%
1%1%
1%1%1%
5%5%5%6%6%
9%10%
12%18%
20%
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