Afound, H&M’s newest retail brand, has announced that it will open its online store on 14 June. On that day, the outlet brand will also open the doors of its physical store in Stockholm. Two days later, the Malmö store will open.
PayPal has signed an agreement to acquire iZettle, a Swedish fintech company that’s aimed at small businesses. PayPal will pay 2.2 billion euros for iZettle, which makes it the biggest acquisition of PayPal ever.
Fintech company iZettle has launched its own ecommerce software solution. iZettle E-commerce is meant for current iZettle customers that want to sell their products online and for new customers to the Swedish company.
Online optician Mister Spex continues to expand its multichannel approach across Europe and now offers its partner optician program also in Sweden. The Scandinavian country is the fifth market in Europe where customers have access to services as free eye tests and eyewear adjustments through partnering opticians.
The ecommerce industry in the Nordics (Sweden, Denmark, Norway and Finland) was worth 209,6 billion Swedish kronor, which corresponds to over 20.6 billion euros, last year. Almost forty percent of the total Nordic ecommerce revenue was generated in Sweden.
Ecommerce in Sweden has increased by almost 16 percent last year. The online retail industry in this Scandinavian country was worth about 67 billion Swedish kronor, or 6.7 billion euros, which is just below the forecast of 67.7 billion kronor.
The mobile phone and the tablet account for two thirds of all ecommerce visits in Sweden. Already in 2015, the share of ecommerce visits that took place on a mobile device, i.e. a mobile phone or tablet, was up over 50 percent. And during the last two years, the same shift occurred for orders and revenues coming from mobile devices.
Buying cheap products online from Chinese ecommerce websites is very popular in Sweden. Every day around 150,000 packages from websites like Alibaba and Wish arrive at Stockholm Arlanda Airport. Until now, customers didn’t have to pay taxes on these purchases, but that’s about to change. And, on top of that, PostNord will also charge a huge administration fee per package.
NA-KD, a Swedish fashion retailer, has raised 45 million dollar (36.8 million euros) in Series B funding. NA-KD wants to use the money to accelerate the company’s growth and to further expand its business globally. The Swedish startup has plans to launch 9 localized websites in the coming months.
Webgallerian, an online marketplace from Sweden, has relaunched this year. The goal is still the same: to bring together hundreds of online stores under one single roof and to become the biggest online marketplace in the Nordic region.