With Fruugo, we are publishing a series of country marketplaces briefs and today take a look at Norway:
With one of the highest standards of living and purchasing power in the world, Norway is an attractive market to access. Like their Nordic neighbours, Norwegians are used to ordering goods from international sellers. The most popular categories are Fashion, Electronics and Media.
Norway recently introduced a new simplified tax system in which the VAT element of all sales made via a marketplace for Norway will be the responsibility of the marketplace. As a result Fruugo is collecting and remitting VAT on behalf of all our retailers for sales made to Norway. Each retailer will continue to receive their orders and payments from Fruugo in the same manner and your order totals will be unaffected by these changes.
If you are considering expanding your business internationally, there are a number of market factors to consider. Use the statistics here as well as the links provided below to help inform your decision. Fruugo provides retailers with a risk-free way of selling their products in over 40 countries around the globe.
Population: 5.4 million
Currency: Krone (NKR)
GDP: $403,306 million
Purchasing Power Factor: 1.2
De minimis values: Duties: 350 NKR Tax: 350 NKR (about 33 EUR)
Logistics rating: 3.70, 21st globally
Internet access: 98%
Online shoppers: 82%
Mobile Internet users: 91%
Preferred payment methods: Bank card, Bank transfer, eWallet
Google share of search: 94.7%
Elkjop.no: Elkjop is a brick and mortar retailer with hundreds of stores across the Nordic countries. They are predominantly focused on technology and have launched a marketplace to expand their selection.