Finnish E-Commerce On The Rise, Driven By Coronavirus
Finland is adopting e-commerce at a rapid pace, which is likely to be exacerbated by the current coronavirus epidemic, according to Kaupan Liitto, the Finnish Commerce Federation.
However, the group said that there is 'still work to be done' on the internationalisation of Finland's e-commerce sector.
Online food retailing has grown at a particularly brisk pace, the group added.
In 2019, Finns bought approximately €4.5 billion worth of retail products, which was up 12% on the previous year.
Kaupan Liitto said that the previous forecast was for the online retail sector to grow by around 11% this year, however this is now likely to be higher due to the coronavirus.
“Currently, the forecast is very uncertain," commented Jaana Kurjenoja, chief economist, Kaupan Liitto.
"On the one hand, the sharp reduction in customer flows in physical stores is directing customers to digital channels, on the other hand, the decline in general activity, layoffs and redundancies reduce purchase intentions in all channels," she said.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.