During the third quarter of 2026, Smartasaker's total revenue increased by 22 percent, reaching 13.1 million Swedish krona. Simultaneously, operating profit improved by 1.1 million krona compared to the same period last year.
For the company, these figures represent a clear shift. The business reported profits in both August and September, and October also points towards positive numbers. This is the first time in several years that the e-commerce retailer has been profitable during individual months outside of the traditionally intense Christmas shopping season in November and December.
Double-Digit Growth Following New Customs Regulations
The upturn began in July, and since then, the company has shown double-digit growth every month. The timing of the turnaround coincides with the EU tightening the rules for low-price shipments from countries outside the union – the new customs duties that have hit low-price giants Temu and Shein.
For Smartasaker, competition from the Asian marketplaces with subsidized prices has been noticeable for several years.
It is interesting to see the development in our e-commerce business. We began to see a clear decline in turnover in the autumn of 2023, around the same time that Temu established itself in the Swedish market. Since then, we have struggled to compete with global low-price platforms that have completely different conditions than Swedish retailers, says Ella Stemme, CEO and founder of Smartasaker.
Whether the summer's regulatory changes are the direct cause of customers now returning, the company management is leaving unsaid, but the pattern in the order flow stands out.
We cannot, of course, say with certainty that there is a causal relationship, either behind the decline in 2023 or the positive development now. But it is interesting that we see such a clear change at the same time as Swedish Trade Federation figures show that fewer consumers are shopping from the international low-price platforms, she notes.
Acquisition and New Store During Anniversary Year
This year, Smartasaker celebrates 20 years since Ella Stemme founded the company in 2006. The recent years have been characterized by difficult external factors where the pandemic was followed by high inflation and rising interest rates, which has put pressure on smaller, owner-managed entrepreneurial companies in retail.
To turn the tide, management has carried out extensive internal work with a focus on cost control and efficiency improvements in operations. At the same time, the company has moved forward through the acquisition of niche colleague Forvara.se and the opening of a new physical store at Stockholm Central Station.
We are not quite back in the black for the entire quarter, but to see both growth and profitability return after these difficult years feels fantastic, says Ella Stemme.