The Swedish Trade Federation's E-commerce Indicator estimates e-commerce turnover for August at SEK 12.1 billion, marking a 1 percent increase compared to August 2023.
As in July, the average total purchase price per consumer remained historically low. Despite this, the trend of increased e-commerce in 2024 continues. While July saw a 1 percent decline in sales, August experienced a slight growth, driven by an increasing number of e-commerce consumers. However, there is little growth in Swedish e-commerce turnover, as more consumers are opting to shop from abroad, especially from low-cost operators.
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'The average total purchase price was again low, the lowest for August since we started measuring in 2020. However, online shopping remains high, with 71 percent of people purchasing online. Despite the strong interest in e-commerce, the challenging economic situation means consumers are being more cautious with their spending. Sweden needs an economic boost, and we hope for substantial interest rate cuts this autumn,' says Per Ljungberg, Head of Innovation at the Swedish Trade Federation.
So far this year, estimated e-commerce sales have risen by 9 percent compared to last year. Almost all product categories show increased turnover, with several experiencing double-digit growth. However, it's important to note that 2023 was a weak year for e-commerce, which contributes to the positive percentage growth.
'It is concerning and harmful to Swedish e-commerce that a large portion of consumers are buying from foreign low-cost players like Temu and Shein. Not only do these purchases risk being unsafe, but they also hurt Swedish businesses, who can't or don't want to compete with the low prices of Chinese giants. These low prices often reflect a lack of compliance with EU regulations. We're working closely with EU organisations to ensure fair competition, benefiting both consumers and businesses,' adds Per Ljungberg.
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Svensk Handel
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