Colliers Denmark Market Report 2024

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RETAIL - COLLIERS MARKET REPORT 2024

Online shopping continues to grow

Since 2018, the number of online purchases or transac tions has increased year on year. However, there was no extraordinary increase during the coronavirus lock downs, but as a share of total transactions – both in-store and online – online shopping gained ground in the lock down years 2020 and 2021. In 2022 – a year with virtually no restrictions – the physi cal retail industry regained some of the lost ground; this is estimated to be due to a combination of greater sav

ings during the coronavirus lockdowns and that many consumers probably had a large pent-up social need to visit physical stores, eateries, bars, discos, cinemas, etc. However, 2023 seems to have ended with renewed growth in online shopping. We interpret this to mean that Danes’ overall consumption pattern - after a few years of “corona disruption” - has returned to the longer-term trend of slightly more online shopping each year and slightly less turnover in physical stores.

Strong growth in online shopping

500,000

400,000

300,000

200,000

100,000

0

18

19

20

21

22

23

Note: Number of e-commerce transactions (‘000) with payment cards. 2023 is based on realised figures in the first three quarters and a forecast for Q4. Q4 2023 is estimated based on Q4’s average share of the total number of transactions in 2016-2022, Denmark. Source: Statistics Denmark, Colliers

Online shopping accounts for an increasing share of total transactions

25%

20%

15%

10%

5%

0%

18

19

20

21

22

23

Note: 2023 is based on realised figures in the first three quarters and a forecast for Q4. Q4 2023 is estimated based on Q4’s average share of the total number of transactions in 2016-2022, Denmark. Source: Statistics Denmark, Colliers