e-Commerce Market Analysis

The eCommerce market in Serbia

In Serbia is the 93rd largest market for eCommerce with a revenue of US$354 million in 2019, placing it ahead of Latvia and behind Cambodia.

With an increase of 12%, the Serbian eCommerce market contributed to the worldwide growth rate of 13% in 2019. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development. Global growth will continue over the next few years. This will be propelled by East and Southeast Asia, with their expanding middle class and lagging offline shopping infrastructure.

The eCommerce market includes online sales of physical goods to a private end user (B2C). Included in this definition are purchases via computer as well as mobile purchases via smartphones and tablets. Excluded from the definition of ecommerceDB are the following: digitally distributed services (e.g., travel tickets), online stores dedicated to digital media downloads or streams, online stores dedicated to B2B markets, and sales between private individuals (C2C) within the eCommerce market.

The eCommerce market in Serbia

Top online stores

The biggest player in the Serbian eCommerce Market is gigatron.rs. The store had a revenue of US$29 million in 2019. It is followed by tehnomanija.rs with US$12 million revenue and apotekaonline.rs with US$10 million revenue. Altogether, the top three stores account for 15% of online revenue in in Serbia.

Store rankings are based on every store that generates revenue in 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 in Serbia was considered.

One of the fastest-growing stores in the Serbian market is apotekasrbotrade.rs. The store achieved sales of about US$9.1 million in 2019. Its revenue growth amounted to 169% in the previous year.

Top online The eCommerce market stores in Serbia by eCommerce net sales 2019 in million US$ The table shows the stores that generate the highest revenue in the Serbian market. For this evaluation, only revenue created in in Serbia was considered. Basis are all shops on eCommerceDB that operate in in Serbia.

# Store
1. gigatron.rs US$29m
2. tehnomanija.rs US$12m
3. apotekaonline.rs US$10m
4. apotekasrbotrade.rs US$9m
5. zara.com US$9m
The eCommerce market in Serbia

Market size and growth rate

Revenue in 2019
US$354m
REVENUE
CAGR 2019-2023
10%
CAGR

Digital Market Outlook by Statista

The Digital Market Outlook presents up-to-date figures on markets of the digital economy. The comparable key figures are based on extensive analyses of relevant indicators from the areas of society, economy, and technology.
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Market expansion in in Serbia is expected to continue over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate (CAGR 19-23) for the next four years will be 10%. Compared to the year-over-year growth of 12%, this decrease suggests a moderately flooded market. Another indicator of market saturation is the online penetration of 53% in in Serbia; in other words, 53% of the Serbian population have bought at least one product online in 2019.

Five categories are considered by ecommerceDB. Electronics & Media is the largest segment in in Serbia and accounts for 46% of the eCommerce revenue in in Serbia. This is followed by Fashion with 19%, Furniture & Appliances with 15%, Toys, Hobby & DIY with 11% and Food & Personal Care with the remaining 9%.

The eCommerce market in Serbia

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