E-Commerce Industry in Iceland

Icelandic E-Commerce: Market Size & Growth

E-Commerce Revenue by Year & Annual Growth Rate

The Icelandic E-Commerce Market generated an e-commerce revenue of US$693m in 2024, reflecting an e-commerce growth rate of 5-10% compared to the previous year. Projections for 2025 see the e-commerce market trending toward a change of 5-10%.

Monthly E-Commerce Revenue & Growth

Online sales are subject to changes throughout a year that are determined by broader consumer habits, cultural preferences, and the general state of the economy. In the Icelandic E-Commerce Market, monthly revenues in December of 2025 were US$83m. This represents a change of <0% from the previous month.

Icelandic E-Commerce: Product Categories

In the Icelandic E-Commerce Market, Electronics is the largest category, contributing 25% to the markets's total revenue. Among all e-commerce product categories, it holds the leading position in terms of revenue share and consumer demand.

Biggest Online Retailers in Icelandic E-Commerce

The largest e-commerce retailer in the Icelandic E-Commerce Market is elko.is, with an online revenue of US$45m in 2024. Its revenue changed by 5-10% in 2024. Following in second place is coolshop.is, followed by ikea.is in third place.

# 1

elko.is

Biggest Category

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Biggest Country

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Growth 24/25

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Revenue (GMV)

US$45m

# 2

coolshop.is

Biggest Category

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Biggest Country

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Revenue (GMV)

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# 3

ikea.is

Biggest Category

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Growth 24/25

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Revenue (GMV)

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Position	Store	Biggest Category	Biggest Country	Growth 24/25	Revenue (GMV)
1.	elko.is	Unlock	Unlock	Unlock	US$45m
2.	coolshop.is	Unlock	Unlock	Unlock	Unlock
3.	ikea.is	Unlock	Unlock	Unlock	Unlock
4.	example123.bla	Unlock	Unlock	Unlock	Unlock
5.	storenamesome-24.xbz	Unlock	Unlock	Unlock	Unlock
6.	emerald-emerald.xb	Unlock	Unlock	Unlock	Unlock
7.	roserose.hru	Unlock	Unlock	Unlock	Unlock
8.	cakestore24.zwr	Unlock	Unlock	Unlock	Unlock
9.	limedatabase.yzu	Unlock	Unlock	Unlock	Unlock
10.	cyan-cpu-chips.yzu	Unlock	Unlock	Unlock	Unlock

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Note: This ranking is based on GMV. Click here to learn more about our methodology and the drilldown available at ECDB.

Icelandic E-Commerce Penetration: Online Market Share

The Icelandic E-Commerce Market reached an online share of 15-20% in 2024. This e-commerce market share measures what percentage of revenues are generated through online channels. The online share is expected to reach 15-20% in 2025.

Top Shipping, Payment and Software Providers in Icelandic E-Commerce

One of the key characteristics of any e-commerce market is its top service providers. This refers to the most prevalent carriers online retailers use for their shipments, the type of payment methods they offer, or the shop software they use to manage their store site. In the Icelandic E-Commerce Market, Pósturinn is the shipping provider offered by most e-commerce retailers, Netgíró (Installment) is the number one payment provider, and WooCommerce the leading provider of shop software.

Icelandic E-Commerce: Conversion Funnel KPIs

In 2024, the add-to-cart rate for the Icelandic E-Commerce Market was 9.5-10.0%, while the cart abandonment rate was 74.5-75.0%,. The e-commerce shopping statistics of consumers buying are used to benchmark performance for e-commerce retailers in the market.

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