Finland: 60% rise in online shopping

April 3, 2020 by
Nico Hoeijmans

In Finland, e-commerce grows rapidly for a few weeks. This, of course, is due to the COVID-19 outbreak. E-commerce platform maker Vilkas Group says it is basing its estimate growth on the sales figures of more than 2000 Finnish online shops, reports Reuters.

Vilkas Group Chief Executive Markku Korkiakoski says: "Numbers from the first quarter reveal a unique spike in orders towards the end of March. It indicates an enormous change in consumer behaviour, with corona going hand in hand with the digitalisation."

Currently, this growth is mainly visible in orders, the group states. In earnings, the sudden spike is less visible. "It is fully realistic to expect a growth in the scale of a billion (euros) in e-commerce," Korkiakoski adds.

E-commerce in Finland

The Finnish Commerce Federation estimates the value of Finland's domestic and foreign online purchases to be roughly 4.5 billion euros in 2019. E-commerce experts expect Amazon to sooner or later enter the market, this provides another challenge for brick-and-mortar stores. Shopping centres struggle with sharply declined sales due to the COVID-19 outbreak. They cannot predict how shopping will change once everything turns back to normal.

During the Finnish lockdown, public meetings and restricted traffic only are allowed. It seems that the digitalisation speeds up due to these measures. Which impact it will have on online and offline shopping remains to be seen.

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