For the sixth time, Nets has just released the Nordic Payment Report. The report provides insights into the payment habits of the Nordic consumers, offering a deeper understanding of how their payment behaviors are changing as new payment and purchasing options become increasingly widespread.
This year, we've included index values in the report for the first time. These values indicate both consumers' and businesses' economic expectations for the coming year across different industries.
Below is a sneak peek at some of the report's findings, but to get all the details, you’ll need to download the full report, which is completely free.
Download Nordic Payment Report 2024
Physical Stores Still Have Their Advantages
It can be tempting to shop online when life gets busy. But even though many online shops are sophisticated today, you still can't feel the quality or try on a jacket online, like you can in a physical store.
Those of the Nordic consumers, who choose to shop in physical stores, do it because they want to see and feel a product before buying it. Additionally, they like the ability to try on an item before purchasing, appreciate that physical stores offer a clear overview of available products, and enjoy receiving personalized customer service.
Who Reigns Supreme: Cash, Card, or Mobile?
Over 91% percent of the Finnish consumers pay with a card in a physical store at least once a week. Cards are preferred mainly because they make transactions quick, especially with contactless payments.
12 % of the Danish consumers never use mobile payments in physical stores. The primary reason consumers choose mobile payments is the convenience of not having to carry a wallet.
Although some still claim that "cash is king," the numbers tell a different story. E.g., 41% of Norwegians never use cash, and the number of consumers who prefer cash is lower than ever.
However, the belief in a completely cash free society is only increasing in Denmark, in the other Nordic countries the belief as decreasing.
Digital Receipts Gaining Ground
Almost 60% of Swedish consumers prefer to receive their receipts digitally rather than on paper when shopping. The numbers are a bit lover in the other Nordic countries, but for all countries they are above 45%.
The main reason for this preference is that digital receipts are less likely to get lost compared to physical ones. Environmental concerns also play a significant role, as many people prefer to avoid paper receipts, which often end up in the trash.
Self-Service solutions are becoming more established
Self-service solutions such as scan & pay, self-checkout, and click & collect are still relatively new but are becoming more established as consumers grow accustomed to using them. For instance, an impressive 70% of Norwegian consumers use click & collect, and no less than 69% of the Danes have used a self-service solution e.g. in the cinema or when ordering fast food.
Consumers greatly appreciate these self-service options because they make shopping faster and easier.
Download the Report for Free
Get even more details on the Nordic consumption and payment habits in 2024 by downloading the full Nordic Payment Report.
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