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Retail industry in Sweden - statistics & facts

Despite the coronavirus (COVID-19), which impacted the world from early 2020 on, the Swedish retail industry stood strong. Despite the forecast decline in the years following 2020, in that year, the country’s total annual retail sales showed slight growth.

Major Swedish retailers

Sweden is home to several well-known and smaller brands, including, but not limited to Volvo, H&M, Clas Ohlson, Circle K Sverige, and IKEA. In fact, H&M, also known as Hennes & Mauritz AB, was the country’s leading clothing and fashion retailer by far, generating an annual turnover of about 187 billion Swedish kronor. In terms of Sweden’s food, drink, and grocery retail market, some of the household names include Systembolaget, ICA, Willys, and Hemköp. ICA Gruppen, which owns a number of retail chains, such as ICA Nära and ICA Supermarket, accounted for a total of around 1,300 stores across the country.

E-commerce in Sweden

As with many countries around the world, the e-commerce market has been expanding over the last decade in Sweden. In fact, Swedish e-commerce sales figures grew exponentially in a short amount of time, reaching an annual revenue of over 145 billion Swedish kronor. Many Swedish consumers had made a habit of buying items online, some of the most popular product categories being clothing and footwear, home electronics, as well as beauty and healthcare products. When asked why they buy online, about 80 percent of the country’s shoppers provided the same answer: convenience. Many shoppers also stated that they could find the same item at a cheaper price online or that it was the only way to get their hands on a desired product.

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