Vinted Expands its Footprint in the Nordics: Recap of a Successful First Year
- Vinted’s Nordics launch exceeded expectations.
- Strong uptick in Sweden, reaching €39 million annualised GMV in Q4.
- First months in Denmark are equally promising, Finland just launched at the end of 2023.
Vilnius, 11 January - Vinted, Europe's leading online C2C marketplace dedicated to second-hand fashion, shares its first results following the expansion to the Nordic markets Sweden, Denmark, and Finland.
After launching in its first Nordics market Sweden in October 2022, Vinted has grown rapidly and reached a total of 39 million euro annualised Gross Merchandise Value (GMV) by the end of 2023. In the fourth quarter alone, over a million transactions were completed by Swedish sellers. Vinted’s 3-month journey in Denmark has been equally promising so far, mirroring the initial success observed in Sweden. These positive results set the stage for Vinted's plans to further scale operations in the Nordics throughout 2024 and cater to the growing demand for fashion choices with a lower impact on the climate, compared to buying new.
Adam Jay, CEO of Vinted Marketplace, comments: "Our journey in the Nordics so far has exceeded our expectations. In Sweden, we saw a strong uptick in buyers and sellers, especially in the second half of the year, showcasing the market's receptiveness to our platform. This response, as well as the successful early results in Denmark since our launch in September last year, give us the confidence to continue our growth path in the Nordics into 2024.”
Vinted’s success reflects the increasing adoption of second-hand, as more and more consumers realize the financial and environmental benefits of second-hand. This is evident in the Nordics, where research suggests that approximately a quarter of online consumers in Sweden purchased second-hand goods in 2022. In Finland, the trend was even more pronounced, with over half of online shoppers opting for second-hand items that same year.1
To make its launch in the Nordics a success, Vinted partnered with leading shipping companies such as PostNord, UPS, Bring, Posti, and Dao to facilitate seamless transactions and efficient shipping and delivery processes. As Vinted continues its expansion into the Nordics and beyond, the platform remains committed to its mission of making second-hand fashion the first choice worldwide.
1.Source: Statista - Second-hand e-commerce in the Nordics - statistics and facts.