The growing market of the Scandinavian countries
With political agendas focused on full employment, generous universal social welfare programs, and dynamic labour market, Sweden, Norway, Finland, and Denmark are the four Scandinavian countries in the top ten list for doing business. Scandinavians have strong purchasing power and a high household confidence index.
The market is shaped by three main trends: wellbeing and health which drive sportswear, the market leader; an active lifestyle that encourages an increase in online buying (apparel and accessories are the top internet purchases); and sustainability and environmental responsibility which are primary Scandinavian concerns.
Norway and Finland are particularly worth watching with an upswing in consumption thanks to the younger generations. And finally, it’s important to note that a tourism boom in these four countries has a logical impact on spending for fashion and apparel.
Scandinavia is a growth market but it’s one that’s difficult to penetrate without assistance. On 23 and 24 May, the Fédération, with support from DEFI, will host a Rencontres Pays program dedicated to Scandinavia. Around 15 showrooms, distributors, and departments stores – such as Aleksi, the CPH Fashion People showroom, Helena Simeonsson Agenturer and Villa Tremondo Oy – will be presented to a selection of French brands. The event’s goal is to develop business opportunities in these countries with solid growth potential.
* Sources: Forbes, the Fédération’s 2018 Economic Report, LuxuryInsight