eCommerce in Finland — How to Sell Online on the Finnish Market

COVID-19 Impact Reveals Market Fundamentals

It’s important to understand the precise factors that drive a given eCommerce market. This allows you to play to your target market’s strengths and actively avoid its weaknesses.

mCommerce is the Future of Finnish eCommerce

Finns lead Europe and most of the world in terms of their smartphone penetration (79.9%) and mobile commerce rates (50%), so it should come as no surprise that Finns are almost as likely to complete an online purchase on their mobile phone as they are on a computer.

Finland Offers Broad Market Support for All eCommerce Categories

Luckily for those looking to expand, the Finnish eCommerce market has both very specific strengths and the ability to provide broad market support for almost all categories, and even across both B2B and B2C.

Finnish Preferences for Subscriptions

Like most Westerners, a large number of Finns put their buying power towards subscriptions, with a preference for video and music. In 2019, of all online service subscriptions in the Finnish market, video subscriptions accounted for 31%, and music for 21%. Subscriptions are also increasing in many less obvious categories, like beauty products, animal feed, and transport.

Optimize For Finnish Payment Methods

Although most people have heard the term “cashless society,” many don’t realize that this futuristic ideal is already a way of life in the Nordic countries. Finland, like its neighbor Sweden, has actively pursued and already nearly reached a “cashless” state. The Bank of Finland has even announced that it expects the use of bank notes to end completely by 2029.

Localize Your Cart and Checkout Experience

Interestingly, Finns are split nearly 50/50 on the question of whether they prefer a native experience when shopping online. Since the vast majority of Finns speak English, and 22.3% of all eCommerce purchases in the country are made cross-border, it makes sense that Finns are used to making due. But 2Checkout data shows an aspect merchants need to pay attention to: localization yields higher conversion rates.

Be Aware of Privacy and VAT

As members of the EU, Finns are entitled to certain protections, as well as subject to certain taxes, that may not apply to others.

Expand Your Business into Finland Now

A competitive edge in Finland’s thriving eCommerce market will go to those who can deploy a knowledge-based strategy that builds on the best parts of this market, while dodging the potential hazards. This post has covered some of the main points you need to know, but make sure you are armed with as much knowledge as you can be. Check out our eBook, “eCommerce in Finland: A Merchant’s Cross-Border Guide to Online Sales,” which takes a more detailed look at how to successfully sell online in Finland.

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2Checkout (now Verifone)

2Checkout (now Verifone)

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2Checkout (now Verifone) is the leading all-in-one monetization platform for global businesses built to help clients drive sales growth across channels.