Verkkokauppa's growth as a company
Verkkokauppa's revenue increased at a steady pace over the past years, but declined slightly to 543.1 million euros in 2022. Online and corporate sales had strong growth during that year. According to the company, this was due to a strongly expanded assortment and fast delivery solutions. However, the company's operating profit declined again in 2022. Over the same period, the number of employees at Verkkokauppa.com grew steadily. With returning to normal life after the COVID-19 pandemic and the ending of most of the precautionary measures taking place in Finland by the end of 2022, Verkkokauppa’s demand decreased, making it necessary for the company to streamline its assortment and optimize its inventory.Online shopping is popular across generations
E-commerce has become increasingly popular in Finland. The rising number of e-commerce users over the past years proved this trend. However, in the coming years, the number of users is expected to plateau. During the COVID-19 pandemic, more people shopped online due to closed stores and services, and most said they would continue to do so in the future. E-commerce revenue was expected to increase overall to over 11 billion euros in 2027, according to Statista’s Digital Market Insights. Although in 2022, it fell slightly as a result of the current inflation and rising cost of living.Online shopping penetration was highest among individuals aged between 25 and 44. While online shopping was a popular way of purchasing any product or service, especially for younger users, online shopping penetration declined with each subsequent age group. Though age is the main factor for online shopping penetration differences, gender does not play a big role. The share of men and women in Finland who had shopped online at some point in 2022 was equal.
