eCommerce market in Montenegro
Montenegro is one of the smaller markets for eCommerce with a predicted revenue of US$102.5 million by 2024. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 5.2%, resulting in a projected market volume of US$125.6 million by 2028. With an expected increase of 7.7% in 2024, the Montenegrin eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Montenegro, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Montenegrin eCommerce market. Hobby & Leisure is the largest market and accounts for 26.4% of the Montenegrin eCommerce revenue. It is followed by Electronics with 20.8%, Fashion with 17.1%, Furniture & Homeware with 11.7%, Care Products with 9.4%, DIY with 8.9%, and Grocery with the remaining 5.6%.
Market development
eCommerce revenue development in Montenegro
Montenegro is one of the smaller markets for eCommerce with a predicted revenue of US$102.5 million by 2024. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 5.2%, resulting in a projected market volume of US$125.6 million by 2028. With an expected increase of 7.7% in 2024, the Montenegrin eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Montenegro, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Montenegrin eCommerce market. Hobby & Leisure is the largest market and accounts for 26.4% of the Montenegrin eCommerce revenue. It is followed by Electronics with 20.8%, Fashion with 17.1%, Furniture & Homeware with 11.7%, Care Products with 9.4%, DIY with 8.9%, and Grocery with the remaining 5.6%.
eCommerce revenue development in Montenegro
eCommerce revenue growth in Montenegro
Net eCommerce revenue split by sub-category
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
Growth (in %) | 60.8 | 75.9 | 34.4 | 76.2 | 79.7 | 69.9 | 87.8 | 61.6 |
Market comparison
The Montenegrin eCommerce market in a global comparison
Market comparison by growth, online share, and revenue in 2023
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