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European Country Profile eBook

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%

European Country Profile eBook | 29

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

European Country Profile eBook | 30

[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%

European Country Profile eBook | 31

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%

European Country Profile eBook | 32

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