Online shopping forecast to grow by 10% in Finland

Many retail sectors in Finland have not exploited the opportunities of online shopping to the full.

Online shopping in Finland is predicted to grow by 10% to a total of about EUR 5 billion in 2011, according to Kare Casals, President of the Electronic Commerce Association of Finland (ECF). He believes that one of the advantages of online shopping is its different cost structure compared to the traditional retail trade, which especially comes to the fore during times of recession. However, at the moment the higher prices caused by the weakness of the euro to the dollar is holding back the growth of online shopping, according to Casals.

The share of online shopping is still relatively small in many sectors of the Finnish economy. The value of online shopping in the retail trade is currently EUR 1.4 billion compared to EUR 36 billion for the retail trade as a whole, according to Juhani Pekkala, managing director of the Federation of Finnish Commerce.

Source: Kaleva