The Danish Market May Be Relatively Small, But This Country Can Spend Big
The Danish are some of Europe’s biggest spenders, with about $3126 (€2916) annual online spend per person.1 While more online shopping is done on a computer rather than mobile, mobile commerce is growing in popularity in Denmark. 68% of Danes report making mobile purchases at least monthly while 20% do so weekly.
Given local commerce preferences, businesses hoping to succeed in Denmark should ensure customers can pay via digital wallet and mobile app.
KEY INSIGHTS
MobilePay is here to stay. 71% of Danes reported a recent online purchase with the Danish mobile payment application, and nearly 4 out of 10 (39%) of respondents said it was their most preferred payment method too.
Mobile commerce is growing in popularity in Denmark with 68% of Danes reporting making mobile purchases on at least a monthly basis.
ABOUT THE STUDY
In March and April 2022 Rapyd conducted a research study to understand the financial habits, payment method choices, considerations and preferences of consumers in nine European countries. We surveyed 4,286 online consumers in Denmark, France, Germany, Iceland, Italy, the Netherlands, Sweden, Spain and the UK. Consumer respondents represent a full spectrum of household income levels from low to high across each country. Household Income questions were presented in locally relevant amounts and currencies. The survey was conducted online amongst household decision-makers over 18 years of age. To participate, the survey respondents must have made a purchase online in the last month.
WHAT ARE THE MOST POPULAR ONLINE PAYMENT METHODS IN DENMARK?
MobilePay is the most widely used payment method reported by our research. 71% of Danish respondents surveyed reported using MobilePay for a recent online purchase, and 39% of respondents chose it as their most preferred online payment method. Many respondents also used credit cards (43%), PayPal (38%), and charge/deferred debit cards (31%) for recent online purchases.
WHAT ARE THE MOST POPULAR PRODUCTS TO BUY ONLINE IN DENMARK?
When it comes to online purchases, Danes bought fashion products (52%), restaurant takeout (41%), and even paid for utilities (39%). While Danes are increasingly turning to mobile, most online purchases are still made via computer. However, this is category-dependent, with the majority of utility payments (7 1%) and electronics and office products (66%) bought via computer, and restaurant takeout (56%) more likely to be purchased via mobile.
WHAT ARE THE MOST POPULAR IN-STORE AND POS PAYMENT METHODS IN DENMARK?
While Danish consumers report credit cards (25%) and charge cards (23%) as their first-choice payment methods, their actual payment behavior shows the use of varied payment methods. Credit cards, charge cards, MobilePay, and cash are all commonly reported for use in-store, showing how consumers employ a variety of payment methods at the point of sale.
SIMPLIFY PAYMENTS IN DENMARK AND 100+ OTHER COUNTRIES
With Rapyd, your business can accept and send local and cross-border payments to just about anyone—faster, cheaper and easier using the methods and currencies they prefer.
Rapyd Can Help You:
- Accept payments and send payouts from one platform
- Expand cross-border card acquiring
- Quickly access new markets
- Stop wasting time integrating multiple payment gateways
- Navigate legal and compliance issues
Learn how Rapyd can help you save millions on transaction and FX fees while spending 70% less time managing payments.
