The Danes are some of the most demanding customers in Europe. With high purchasing power, the Danish consumer is not afraid of opening up their wallets to quality products. In 2018, Denmark ranked 7th in purchasing power among all European countries. Consumers are increasingly spending money online, purchasing products like fashion, electronics, media, and games.
The potential to break into the Danish market and increase revenues is great. However, you need to be strategic and understand the Danish consumer before attempting to do so. Simply translating your product into the Danish language is not enough. You also need to consider other factors like their culture, consumer profile, context, and more.
Consumers in Denmark are incredibly sophisticated when it comes to making purchasing decisions. Approximately 81 percent of the population aged 25 to 64 have secondary education. Nearly 37 percent have tertiary education.
As highly educated consumers, Danes love to research extensively before making a purchase. They will often do their research before stepping foot in a store. This is why quality localization is vital when marketing to the Danish market.
Denmark has a robust modern mixed-economy centered around the agricultural, services, trade, and manufacturing industries. It has a high standard of living and is the 60th largest economy in Purchasing Power Parity (PPP). With its economic influence, Denmark acts as a gateway to many of the Scandinavian and Baltic nations. Therefore, tapping into the Danish market could help businesses look to expand to neighboring countries further.
A Digitized Nation
Denmark is ranked 4th as the most digital country in the world. They have the highest number of Internet users in the European Union, with the most popular online activities is listening to music, gaming, and watching videos.
Marketing via social networks plays a crucial role in reaching Danish consumers. Consumers typically look to online reviews and social media influencers for product recommendations. While Danes are open to foreign products, they often prefer local products with a long-established brand reputation.
Doing Business in Denmark
The World Bank ranks Denmark as 4th highest globally and 1st in the EU in ease of doing business. Factors like ease of starting a business, trading across borders, paying taxes, and obtaining credit all contribute to making Denmark an attractive country to conduct business in.
The Danes love their online games. But, there is one particular gaming industry Denmark is known for: eSports. Denmark has one of the largest eSports followings in the world. Some of the top eSports players originate from Denmark, including Dane Johan Sundstein (i.e., “N0tail”), who leads all eSport players worldwide in total earnings. Moreover, in 2019, there were 410 active eSports competition players in Denmark. The gaming market is steadily growing, especially since the COVID-19 outbreak, with more players purchasing video game content online.