eCommerce market in Montenegro
Montenegro is one of the smaller markets for eCommerce with a predicted revenue of US$163.6 million by 2023. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 12.2%, resulting in a projected market volume of US$259.5 million by 2027. With an expected increase of 20.9% in 2023, the Montenegrin eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Montenegro, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Montenegrin eCommerce market. Fashion is the largest market and accounts for 27.2% of the Montenegrin eCommerce revenue. It is followed by Electronics & Media with 25.8%, Food & Personal Care with 22.7%, Furniture & Appliances with 15.9%, and Toys, Hobby & DIY with the remaining 8.4%.
Market development
eCommerce revenue development in Montenegro
Montenegro is one of the smaller markets for eCommerce with a predicted revenue of US$163.6 million by 2023. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 12.2%, resulting in a projected market volume of US$259.5 million by 2027. With an expected increase of 20.9% in 2023, the Montenegrin eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in Montenegro, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Montenegrin eCommerce market. Fashion is the largest market and accounts for 27.2% of the Montenegrin eCommerce revenue. It is followed by Electronics & Media with 25.8%, Food & Personal Care with 22.7%, Furniture & Appliances with 15.9%, and Toys, Hobby & DIY with the remaining 8.4%.
eCommerce revenue development in Montenegro
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 18.6 | 36.3 | 80.6 | 56.6 | 50.0 | 86.9 | 41.8 | 54.9 |
| AOV (in US$) | 46.8 | 34.0 | 93.4 | 93.6 | 49.7 | 83.8 | 81.2 | 25.7 |
| CVR (in %) | 18.6 | 36.3 | 80.6 | 56.6 | 50.0 | 86.9 | 41.8 | 54.9 |
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