Boozt and Apotea continue as the biggest online retailers in Sweden

Nov 20

The list of the biggest Swedish online retailers is out again. The list compiled by Market.se offers interesting information about the divided year 2023 for online retailers. Some retailers succeeded handsomely, while others, even big ones, suffered significantly. Of the big international online retailers, the meal kit maker Hellofresh saw its revenue plummet by -11% and profits erode to losses.

In total, the top 250 online retailers in Sweden had a revenue of nearly 100 billion Swedish krona (98,9 billion SEK). This was up from 94 billion SEK in the previous year. The group's profitability also improved from -1 423 billion SEK to -42 million SEK.

Boozt is clearly the biggest Swedish online retailer, with revenues approaching eight billion SEK. Apotea is the second biggest with 5,3 billion SEK in revenues. Apotea is also the biggest online retailer in Sweden in terms of revenues, as the majority of Boozt’s revenue comes from other countries.

The biggest online retailers saw little change in overall set-up even though the order in the top 20 changed slightly. The biggest growth among the top 20 group of online retailers came from Ridestore (+40%), Lyko (+34%), Amazon (+28 %), Nordic Nest (+25 %) and Haypp (+22 %). With almost 30 % growth, Amazon reached the top 10 for the first time since its launch in Sweden.

Amazon is still coming in Sweden

With a growth of nearly 30%, Amazon became a top-10 online retailer in Sweden for the first time. However, the company's conquest of Sweden has long been considered a disappointment. Amazon launched in Sweden about four years ago, so if someone expected Amazon to conquer the Swedish market in a few years, the start has undoubtedly disappointed.

It is good to remember that Amazon is patient. The company has patiently built many of its most important markets. In those markets where Amazon is the largest online retailer, the company has been around for over 10 years. In a few years, it will be 30 years since Amazon launched in the UK.

Also, Amazon became a major online retailer in Australia a few years after the launch. Now, 7 years after its launch, the company is already one of the largest speciality trade chains in the country, with sales of $3,1 billion.

Top 100 had a divided year

The group of 100 most significant online retailers reported some very good figures and some dismal figures from last year. When the companies are organised based on growth (X-axis) and profitability (Y-axis), the image shows how some of the biggest online retailers could grow fast without giving up on good profits.