Exploring the Unified Market of Sweden, Denmark, and Finland
Written by Max Riis Christensen
Discovering a new country is a rare occurrence, but in the world of online selling, an exciting opportunity has emerged.
The combined market of Sweden, Denmark, and Finland presents immense potential for e-commerce growth. Ranked fourth in the EU by online market value, this region offers promising prospects for businesses seeking new frontiers.
While this new entity lacks a formal name, its value is undoubtedly real. The online market for physical products in Sweden, Denmark, and Finland approaches €8 billion. Remarkably, over 5.2 million packages are shipped monthly to the region's 20 million inhabitants, as reported by PostNord. Beyond the monetary worth, the synergy of these three countries, each with its language, yields three critical advantages.
- Reduced Price Competition: In smaller countries, price competition tends to be less intense compared to larger markets like Germany and the UK. This opens doors for businesses to establish competitive pricing strategies and potentially achieve higher profit margins.
- Lower Cost per Order (CPO) in Online Marketing: The relatively limited competition for relevant search terms in smaller language areas positively impacts the cost of online advertising. Businesses can acquire targeted traffic at lower prices, optimising their marketing budgets and driving better returns on investment.
- Wide Product Range Appeal: National web shops in smaller countries often feature a narrower product range. In contrast, web shops from larger countries can offer a diverse and attractive assortment from the perspective of Nordic customers. Capitalising on this disparity can position businesses for success.
The convergence of Sweden, Denmark, and Finland presents a remarkable opportunity for online businesses. Combining their online market value, population, and language distinctions, these three countries offer unique advantages.
At MakesYouLocal, we stand ready to guide businesses through the localization process, empower effective marketing strategies, and ensure exceptional customer service. Embrace the potential of this new country and unlock new horizons for your online business.
Check out our informative infographic on this new country here.