eCommerce market in Montenegro
Market development
eCommerce revenue development in Montenegro
Montenegro is one of the smaller markets for eCommerce with a predicted revenue of US$112.5 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$137.8 million by 2028. With an expected increase of 6.6% in 2024, the Montenegrin eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Montenegro, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Montenegrin eCommerce market. Hobby & Leisure is the largest market and accounts for 26.6% of the Montenegrin eCommerce revenue. It is followed by Electronics with 20.6%, Fashion with 17.1%, Furniture & Homeware with 11.7%, Care Products with 9.4%, DIY with 8.9%, and Grocery with the remaining 5.7%.
eCommerce revenue development in Montenegro
eCommerce revenue growth in Montenegro
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 94.6 | 44.2 | 81.4 | 90.5 | 86.6 | 1.1 | 53.9 | 32.5 |
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