eCommerce market in Serbia

Serbia is the 69th largest market for eCommerce with a predicted revenue of US$936.0 million by 2024, placing it ahead of Croatia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 6.9%, resulting in a projected market volume of US$1,221.2 million by 2028. With an expected increase of 7.9% in 2024, the Serbian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Serbia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Serbian eCommerce market. Hobby & Leisure is the largest market and accounts for 26.9% of the Serbian eCommerce revenue. It is followed by Electronics with 20.5%, Fashion with 16.9%, Furniture & Homeware with 11.7%, Care Products with 9.5%, DIY with 9.0%, and Grocery with the remaining 5.7%.

Monthly revenues

Monthly revenues in the Serbian eCommerce market

The monthly eCommerce revenue of the Serbian eCommerce market was US$76 million in October 2024. This refers to a growth of 6.2% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in November 2023 with 9.8% of the total 2023 revenue of the Serbian eCommerce market and the lowest in July 2024 with 7.5% of the total 2024 revenue.

Revenue Last Month

US$76.0m

The eCommerce revenue grew by 6.2% from September 2024 to October 2024.

10-2024+6.2%

Monthly revenue shares in the last 12 months

in %
0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)66.874.966.76.357.670.677.259.348.836.032.778.8

Market development

eCommerce revenue development in Serbia

Serbia is the 69th largest market for eCommerce with a predicted revenue of US$936.0 million by 2024, placing it ahead of Croatia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 6.9%, resulting in a projected market volume of US$1,221.2 million by 2028. With an expected increase of 7.9% in 2024, the Serbian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Serbia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Serbian eCommerce market. Hobby & Leisure is the largest market and accounts for 26.9% of the Serbian eCommerce revenue. It is followed by Electronics with 20.5%, Fashion with 16.9%, Furniture & Homeware with 11.7%, Care Products with 9.5%, DIY with 9.0%, and Grocery with the remaining 5.7%.

eCommerce revenue development in Serbia

in million US$

eCommerce revenue growth in Serbia

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)44.483.341.922.886.070.71.715.0

Online share

eCommerce online share in Serbia

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Serbian retail market, the online share is 4.4% and will increase by an average of 10.2% to 6.4% by 2028.

eCommerce online share in Serbia

in %
20202021202220232024202520262027
Online share (in %)52.1%47.7%90.4%34.7%45.9%58.3%60.1%89.3%

Top stores

Top five online stores in Serbia by net sales 2023

The biggest player in the Serbian eCommerce market is gigatron.rs. The store had a revenue of US$53.0 million in 2023. Store rankings include every store that generates revenue in Serbia. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Serbia was considered.

eCommerce net sales generated in Serbia in 2023

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m8.3%
US$550.0m
12.0%
US$4,600.0m12.4%
US$470.0m
3.9%
US$1,190.0m33.6%
US$430.0m
20.6%
US$2,122.0m18.0%
US$370.0m
20.7%
US$1,814.0m12.6%

Payment Methods

Top 5 offered payment methods in the Serbian eCommerce market

With 84.5% share Cash on delivery is the most commonly offered payment method of all online stores in the Serbian eCommerce market in 2023. Unlike Cash on delivery which is of type Cash on delivery VISA, Mastercard, and American Express with shares of 72.7%, 70.9%, and 43.6% are of type Cards.

Top 5 offered payment methods in the Serbian eCommerce market

in %

See all stores offering


Shipping Service Provider

Top 5 offered shipping providers in the Serbian eCommerce market

Despite BEX Express's dominant position with 27.4% of online stores opting for its services, the Serbian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including D Express, City express, Post Express, and AKS Express, hold smaller but significant shares, contributing to a dynamic and fragmented market.

Top 5 offered shipping providers in the Serbian eCommerce market

in %