Apparel market in Finland - statistics & facts
Online shopping is more popular than ever in Finland, and that includes buying clothes. The positive attitude towards online shopping reflects in the forecast online fashion market revenue in Finland, which is expected to constantly grow in the upcoming years. In 2022, the leading online fashion store in Finland was zalando.fi, having generated nearly 157 million U.S. dollars from sales of fashion articles across the country. The Swedish-based multinational clothing company H&M, with its online store hm.com, ranked second.
The sector of apparel and footwear in Finland will continue to see a growth in online shoppers and a focus on e-commerce marketplaces. However, the local apparel industry will be challenged by competitors from China and Bangladesh.
The revenue of the Stockmann Group decreased in 2023
One of the best-known retailers for clothes in Finland is Stockmann. Stockmann plc was established in 1862 and owns several Stockmann department stores across Finland and the Baltics. Along with Stockmann, the Swedish fashion brand Lindex is part of Stockmann plc. After surpassing one billion in revenue in 2018, the revenue of the Stockmann plc declined until 2020 and fluctuated thereafter. In 2023, the revenue of the group reached 951.7 million euros.Finnish clothing imports and exports decreased in 2023
While the export value as well as the import value of apparel and clothing accessories declined over the past years, this trend stopped in 2022. However, in 2023, the import and export values of apparel and clothing accessories declined again. This phenomenon can also be observed in the Finnish leather and fur trade. Both the import value and the export value of leather and dressed fur showed an overall decline. However, in 2022, both trade figures reached a peak for the observed time period. As of 2023, the export value of leather and fur reached 29.59 million euros, staying behind the import value of almost 43.81 million euros.The sector of apparel and footwear in Finland will continue to see a growth in online shoppers and a focus on e-commerce marketplaces. However, the local apparel industry will be challenged by competitors from China and Bangladesh.
