Finland’s e-retail sector driven by international growth
Summary
Banks, faced with a potential mountain of bad loans, effectively turned off the credit tap by making it prohibitively expensive for enterprises to borrow to stimulate growth in their businesses.The general profile of the companies operating in Finland’s smart retailing cluster lean heavily towards the delivery of advanced technology products that aim to revolutionise the shopping experience.The Spot-a-Shop offering permits online shoppers to compare products and prices across a broad range of fashion stores and refine searches for specific brands, sizes and colours.Among the most high profile of this tranche of operators is ePassi, which has elevated its business to international heights under a strategic agreement with Alipay , China’s largest mobile and online payment platform.The agreement will allow Chinese citizens and tourists, with Alipay accounts, to use the ePassi platform to pay for goods and services in shops, restaurants and hotels across the Nordic countries and European Union states.