Demographics
Luxembourg is one of the smallest yet safest countries in the world, with a diverse culture. It has been acknowledged twice as the European Capital of Culture. Luxembourg is a secular country, yet 87% of people are Roman Catholic, along with others like Jews and Muslims. Also, Luxembourgers are commonly tri-lingual.
The country’s total population is 0.6 million and ranks 169th on the global country list. It has the lowest population of all the countries of the EU. A huge number of the inhabitants are immigrants making 170 nationalities together. French, Belgians, and Germans commute to Luxembourg for work purposes. Dropshipping to Luxembourg is a growing trend in the region.
| Population | Internet users | Social media users | Online shoppers | Popular modes of payment |
|---|---|---|---|---|
| 0.620 million | 0.602 million | 0.397 Million | 0.496 Million | Bank transfers, Credit cards, Digicash |
Average Salary
Luxembourg is considered to have the highest minimum wage in the EU. A working adult’s average salary is usually around 4,910 EUR based on the highest minimum wage being 21,900 EUR and the lowest average salary being 1,240 EUR. The pay is inclusive of housing, transport, and other benefits. 50% of people in the region earn more than the average salary.
Economy
Its fiscal system and investments mainly drive the economy. Covid19 impacted Luxembourg’s economy just like many other countries worldwide. While the situation was steady for the first two months, it declined rapidly later. However, experts forecast an improvement in the economy and 7% growth in 2021.
E-commerce in Luxembourg
E-commerce in Luxembourg is a thriving market as 93% of the households have had access to the internet since 2018. The number of people having internet access right now is 602 thousand (0.602 million), with 397.5 active social media users. The internet penetration, according to the population count, is around 97%. M-commerce is also quite popular in the country as 42% of the total web traffic comes from mobile phones. 76% of people, on average, pay bills or make purchases online.
Payment Gateways
99% of the people have an account with a financial institution, and 70% hold a credit card. Other methods of payment are also quite popular among online buyers, like internet banking and digital wallets. 39% of online payments are made through bank transfers, followed by 34% by credit cards and 31% by Digicash.
Popular Products
Besides fashion and beauty, the most online sales are obtained from online ticket bookings and books and magazines. Online tickets for shows and events account for 44% of total e-sales, whereas books and magazines for 40%. Other product categories that play a significant role in the e-commerce market include household items, electronics, movies and music, computer hardware, and food.
Dropshipping to Luxembourg
Dropshipping to Luxembourg is just sprouting, and you can make the best use of the situation by availing of free dropshipping services by Wefullfill. Luxembourg is a rich country with a stable economy and an expanding e-commerce market. Get your products dropshipped to Luxembourg within a short span of 8 to 15 business days without any additional shipping cost.
