L. Yltävä
Research expert
B2B e-commerce in the Nordics - statistics & facts
Over the past few decades, business-to-business (B2B) commerce has become increasingly prevalent in the digital world. B2B e-commerce refers to the digital sales of goods and services between companies, mostly operating in wholesale, manufacturing, and distribution. Companies streamline their online orders through multiple channels such as web shops, apps, e-mail, business portals, marketplaces, and electronic data interchange (EDI).
The Nordic countries are some of the most digitally adapted regions in the world. As it is the case for the B2B sector, Sweden generates the highest revenue if compared to other Scandinavian countries. By 2025, B2B e-commerce revenue of physical goods is forecast to hit nearly 35 billion U.S. dollars. More and more B2B businesses are turning their sales digital. In Finland, six in ten organizations have plans to launch digital commerce channels in the coming years. In 2022, about 35 percent of Nordic B2B companies' revenue came from digital channels, likely to reach 45 percent by 2024. According to Scandinavian B2B professionals, online sales are expected to increase the most in the wholesale sector in the next few years. However, growth comes with its own challenges. Traditional B2B commerce relies heavily on personal sales. Integrating personal sales with online platforms is seen as the biggest challenge in B2B digital sales in the Northern region. Furthermore, companies face difficulties in integrating digital channel sales into their business strategies.
Due to accounting reasons, B2B online payment options are strongly anchored to invoicing, as a Danish survey confirmed. A similar poll carried out in Sweden indicated that companies often even require credit invoices, which report a refund or a credit to an invoice, as is the case with product returns. With invoicing services turning into essential e-commerce features, payment providers started including B2B options in their services. The Swedish financial group Svea Bank was a pioneer in the Nordic region, having provided B2B e-commerce invoicing services already years ago under the name Svea Ekonomi.
The Nordic countries are some of the most digitally adapted regions in the world. As it is the case for the B2B sector, Sweden generates the highest revenue if compared to other Scandinavian countries. By 2025, B2B e-commerce revenue of physical goods is forecast to hit nearly 35 billion U.S. dollars. More and more B2B businesses are turning their sales digital. In Finland, six in ten organizations have plans to launch digital commerce channels in the coming years. In 2022, about 35 percent of Nordic B2B companies' revenue came from digital channels, likely to reach 45 percent by 2024. According to Scandinavian B2B professionals, online sales are expected to increase the most in the wholesale sector in the next few years. However, growth comes with its own challenges. Traditional B2B commerce relies heavily on personal sales. Integrating personal sales with online platforms is seen as the biggest challenge in B2B digital sales in the Northern region. Furthermore, companies face difficulties in integrating digital channel sales into their business strategies.
What makes B2B different
Wholesalers and manufacturers contribute the most to B2B e-commerce sales. A high percentage of both sectors still receive most orders via their online store or e-mail, while third-party marketplaces are still secondary if compared to other online channels. Large companies also rely on customized portals that — unlike marketplaces — are fully tailored to buyers’ characteristics and needs. From sellers’ perspectives, B2B-only platforms and closed shops based on membership programs are more efficient and secure revenue channels. As buyers get more demanding, B2B e-commerce companies are expected to optimize multiple touchpoints, but above all, display an up-to-date inventory status and offer an easy re-order process. As a matter of fact, unlike private consumers, companies tend to purchase the same type of products regularly.Due to accounting reasons, B2B online payment options are strongly anchored to invoicing, as a Danish survey confirmed. A similar poll carried out in Sweden indicated that companies often even require credit invoices, which report a refund or a credit to an invoice, as is the case with product returns. With invoicing services turning into essential e-commerce features, payment providers started including B2B options in their services. The Swedish financial group Svea Bank was a pioneer in the Nordic region, having provided B2B e-commerce invoicing services already years ago under the name Svea Ekonomi.
