LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has announced the completion of their latest article on why Sweden’s retail sector is captivating international retailers. In this blog, experts at Infiniti take you through some key factors that are fueling the attractiveness of Sweden’s retail sector among international retailers.
Sweden is considered as an ideal market by several international retailers, primarily due to factors including highly skilled labor force, sophisticated consumers, innovation and technological advancements, smooth business procedures, and stable economy of the country. Sweden has been consistently ranked as one of the most competitive, globalized, and productive countries in the world despite having a relatively smaller population. Furthermore, Sweden’s central location and strategic gateway to Northern Europe have also made it a convenient logistics hub and place for consolidated business operations.
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Why is Sweden an ideal market for international retailers?
Strong retail sector growth
Fueled by steady population growth and rising disposable income, the Swedish retail sector has enjoyed consecutive growth over the past two decades. Growth in both private consumption and retail sales is stronger in Sweden than most of the European countries and is forecast to outperform most of these countries in the next few years.
Sweden’s population is growing steadily, especially in urban areas. Net immigration, increasing birth rates, and low mortality are key factors that are contributing to this growth. The population in Sweden is expected to rise over the next decade, creating a broader set of audience for the retail sector companies to target and serve.
Growth of e-tail
Online sales account for a sizeable portion of the total retail sector sales. Items including consumer electronics, clothes, and books are among the most sold items through e-tail. The consumers in Sweden also indulge in shopping from international sites, especially in the case of fashion items and accessories.
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The fashionable lifestyle and five-star culinary adventures are garnering the attention of travelers from around the globe to Sweden. Also, tourism is the fastest growing industry in Sweden. This has had a significant impact on the retail sector and shopping culture in the region. Revenues from international visitors have doubled in the last five-years and visitor volumes have increased faster than the European average.
Growth of e-tail
Online sales account for a sizeable portion of the total retail sector sales. Items including consumer electronics, clothes, and books tops the list of most sold of items through e-tail. The consumers in Sweden also indulge in shopping from international sites, especially in the case of fashion items and accessories.
Opportunities for different retail segments
Sweden is well suited to new retail concepts and there are several opportunities available in most segments in the retail sector. The retail market here is unregulated, proving to be highly favorable to international retailers. However, as the global retail industry has expanded rapidly into new markets, the Swedish and Nordic markets have been relatively untapped by international retailers.
Favorable logistics hub
Sweden ranks as one of the most trade-friendly and logistics efficient nations in the world by smoothly moving goods and connecting manufacturers and consumers with intentional markets. Sweden is the preferred choice when companies consolidate distribution and warehousing activities in Northern Europe to one central location.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us