Denmark has one of the richest population in the European Union. With this high level of household income, however, come very high expectations in terms of product quality and customer experience.
At the same time early-adopters of technologies and conservative in their purchases, Danish are more likely to purchase products from companies that have been established for a long time. Therefore, it may be harder for a business that just entered the market to develop the kind of trust needed to fully engage with the Danish consumer.
Even though the Danish consumer enjoys a very high quality of life and household income, it also pays one of the highest income tax in the World, which can limit its purchasing power. Companies that wish to enter the Danish market must remain aware of this fact and how it contributes to making the Danish consumer a discerning one.
The key brands to watch, especially in the international space, are Amazon, CDon, eBay, HM.com and Zalando. CDon and Komple are particularly interesting brands worth investigating further.
Black Friday has only been around for a few years in Denmark but it has already surpassed the big shopping days before Christmas and Easter. At least 12 percent of all Black Friday purchases were made online, a number that is likely to increase in the coming days as some online stores do not withdraw their money until they've shipped their products.