The Swedish-Colombian Chamber of Commerce

Sweden has most recently been ranked as the world’s sixth richest country in regards to average wealth per adult. As such, Swedes tend to spend more of their disposable income on shopping and thus the market becomes a great place for international brands to expand.

Average wealth in Sweden, according to Credit Suisse’s annual report was US$294,692. This figure is derived from real assets minus total debts.

Information also shows that a large portion of Swedes income is then spent on fashion, furniture and retail goods and the capital city of Stockholm attracts shoppers from around the globe.

Because of store such as H&M, which has now become one of the leading clothing chains around the world, the fashion sector has increased 75 percent and on average, Swedes spend more than most western countries and this number is up by 7%.

Retail sales are also expected to swell in Stockholm as the Swedish capital experiences a higher population growth rate compared to other leading European cities. Stockholm is expected to see a 17 percent increase in its number of citizens by 2020 compared to 2000, according to the Stockholm Chamber of Commerce. By contrast, London is expecting an increase of 9 percent and Paris 3.5 percent.

Sweden’s 5.5 percent growth rate last year was more than any other developed nation in Europe, beating the 2.8 percent increase in the US. The economy also expanded faster than most analysts estimated in the third quarter of this year (4.6 percent) as exports picked up and companies continued investing.

Simply put; Sweden has wealthy consumers with high purchasing power.

Article found on http://swedishwire.com/index.php?option=com_content&view=article&catid=1:companies&id=12361:growth-potential-in-fashion-hungry-stockholm

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