Sweden Buy Now Pay Later Market and Investment Opportunities Report 2021: BNPL Payments are Expected to Grow by 71.5% to Reach $697.1 Million in 2021 – Forecasts to 2028 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Sweden Buy Now Pay Later Business and Investment Opportunities (2019-2028) – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics” report has been added to ResearchAndMarkets.com’s offering.
According to the Q2 2021 BNPL Survey, BNPL payment in the country is expected to grow by 71.5% on annual basis to reach US$ 697.1 million in 2021.
The deferred installment product originated as an innovation out of the debit culture in Sweden to help consumers purchase products in the local market. Many retailers and brands are turning to buy now pay later (BNPL) schemes to entice consumers and build loyalty with their new spenders. Notably, Sweden-based Klarna lies at the epicenter of this retail revolution. The FinTech company promises to help consumers in spreading the cost of their purchases with no extra fees or interest, therefore, creating a retail experience unlike any other.
The BNPL payment method is especially popular among the younger generation, Gen Z and Millennials, consumers in Sweden, like in every other market globally. Easier access to credit and higher purchasing power have been why consumers in Sweden use the deferred payment solution. Apart from this, the ability to fund their purchases without having the full buy amount is often cited as the reason for using the BNPL payment method by shoppers in the country.
The growth of the e-commerce market is driving the adoption of BNPL in Sweden. In 2020, the Swedish e-commerce industry recorded a total turnover of approximately US$ 40 billion. This growth in the Swedish e-commerce market has also contributed to the growth of the BNPL market in the country. Notably, BNPL transactions accounted for almost a quarter of the total e-commerce turnover in Sweden.
Klarna is one of the key players in the Swedish deferred payment industry. With 90 million registered users on its platform, Klarna has partnered with 250,000 retailers in 20 countries, where it provides consumers with the deferred payment option. Notably, the Swedish BNPL provider boasts about two million transactions per day. Apart from Klarna, Zaver is another financial technology platform offering deferred payment services to consumers and merchants in the country.
Medium to long term growth story of BNPL industry in Sweden remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 15.3% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 10860.0 million in 2020 to reach US$ 39728.0 million by 2028.
Scope
Sweden BNPL Market Size and Spending Pattern
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Sweden Buy Now Pay Later Market Share Analysis by Key Players
- Klarna
- Afterpay
- PFC
- Sweetpay
- Zaver
Sweden Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
- Online Channel
- POS Channel
Sweden Buy Now Pay Later in Retail Shopping: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Sweden Buy Now Pay Later in Home Improvement: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Sweden Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Sweden Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Sweden Buy Now Pay Later in Education: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Sweden Buy Now Pay Later in Automotive: Market Size and Forecast
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Transaction Volume Trend Analysis
Sweden Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
- Buy Now Pay Later Sales Uplift by Product Category
- Buy Now Pay Later Spend Share by Age Group
- Buy Now Pay Later Gross Merchandise Share by Income
- Buy Now Pay Later Gross Merchandise Value Share by Gender
- Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis
Reasons to buy
- For expanding the deferred payment services in other emerging markets, the aggressive expansion strategy adopted by Swedish BNPL provider, Klarna is fueled by the gangbuster funding rounds. For instance, in June 2021, Klarna secured US$693 million in venture funding to bolster its footprint in the United States.
- In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.
- Insights into Opportunity by end-use sectors – Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.
- Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.
- Market Share by Key Players.
For more information about this report visit https://www.researchandmarkets.com/r/svyu9k
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