If you don’t have online presence or a credible plan to establish one, you should probably start thinking about your future. This advice is given by Johan Trocmé, head of Thematics Research, in the latest Nordea On Your Mind podcast. The offline retail business is forecast to decline by an annual average of 2 percent in the coming ten years per year while online is seen expanding, he argues.
The online share of total retail sales is seen increasing to 30 percent in ten years from today’s 10 percent level. Key drivers are constant access through smartphones and mobile internet as well as a changing demographic. People under 50 are already more interested in shopping online and this group of people will continue to expand.
Find out which countries have been most keen on migrating over to online shopping and which retail sectors the authors dub winners in the online sales race in the latest podcast by Nordea Market Insights Global. Also appearing in the podcast are Viktor Sonebäck and Philip Wrangberg.
Read more news
Economic outlook Nordea podcasts
Could the pandemic be resolved by a vaccine or therapy next year, or will we need to accept that it continues to burden the economy?
Sustainability Markets and investments
Read our new publication on sustainable investment
Markets and investments Sustainability
Nordea Asset Management has been awarded outstanding scores by the United Nations-supported Principles of Responsible Investment (PRI).
Digital banking About Nordea
Nordea is a main partner of Slush, the world’s leading startup and tech event. Nordea’s focus is on helping investors and startups find their best matches.
Sustainability About Nordea
Over the last seven years, Nordea’s procurement team has worked diligently on embedding sustainability in its core processes.