Thinking of expanding your retail business in the Nordic countries?

Here are several good reasons why you should...

Many retailers have already set out the Nordic region as an attractive place to establish their business. Despite turmoil in the global economy, the retail turnover reaches new heights every year, and several European retailers have recently entered the market.

Dependable economy and high purchasing power

Not only do the Nordic countries have a welfare system that is world famous and that many countries want to adopt ('The Nordic welfare model'), but they also have a dependable economy and score highly in terms of purchasing power per capita. In fact, all five Nordic countries were in the top 11 in terms of highest purchasing power per capita in Europe in 2015/16 (source: GfK). On average the Nordic purchasing power is 23.025 € per inhabitant versus the European average which is 13.636 € per inhabitant.

Leaders in gender equality

The Nordic countries are continuously ranked as leaders in gender equality, and occupied the top five positions in the Global Gender Gap Report in 2014. A larger proportion of women in work is known to generate a higher average income and living standard.

Highest sales area productivity

The Nordic countries are not among the highest populated countries, but despite this the highest sales area productivity is to be found here. Retail turnover per m2 of sales area lies from 5000 € per m2 to above 6.000 € in 2015 (source: GfK).

World’s most happy people

And we mustn't forget the World Happiness Report, released every year, which ranks 156 countries by their happiness levels. In 2016 the Nordic countries held 1st, 3rd, 4th, 5th and 10th place. The study focuses on factors such as health and access to healthcare, family relationships, job security, political freedom and levels of government corruption.

So – the Nordic people have high purchasing power, they enjoy spending their money – and they are always happy! There you have it - several good reasons why a move to the Nordic region makes sense!

Nordic Retail Services can help you with your expansion into any or all of the Nordic countries. Do you want to have some more information? Write to us or phone us any time; contact@nordicrs.com / +47 922 52 130.

In need of help with your expansion plan?

Or just want to get advice from experts on the local retail market?

Contact us

Countries

Norway

Population

5.2 million

GDP per capita

54.947 €

Net avg. monthly income

3 347 €

Read more

Sweden

Population

9.8 million

GDP per capita

42.835 €

Net avg. monthly income

2.539 €

Read more

Denmark

Population

5.7 million

GDP per capita

41.685 €

Net avg. monthly income

3.100 €

Read more

Finland

Population

5.5 million

GDP per capita

36.291 €

Net avg. monthly income

2.180 €

Read more

Iceland

Population

332.000

GDP per capita

41.606 €

Net avg. monthly income

2015 €

Read more