Hobby & Leisure market in Montenegro

The Montenegrin Hobby & Leisure eCommerce market is predicted to reach US$28.5 million by 2024 and accounts for 26.6% of the total eCommerce market in Montenegro. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.9%, resulting in a projected market volume of US$40.1 million by 2028. Within the Hobby & Leisure market ECDB considers the following twelve sub-markets: Media, Sports Equipment, Pet Supplies, Toys, Stationery, Crafts & Art Supplies, Bullion & Precious Metal, Camping & Adventure, Musical Instruments, Flowers & Gifts, Other Hobby & Leisure, Erotic & Adult, and Smoking Supplies.

Market development

eCommerce revenue development in the Books market in Montenegro

The Montenegrin Books eCommerce market is predicted to reach US$5.0 million by 2024 and accounts for 83.1% of the Books, eBooks & Audiobooks eCommerce market in Montenegro. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 5.3%, resulting in a projected market volume of US$6.1 million by 2028. The Books eCommerce market is a sub-market of the Books, eBooks & Audiobooks market. Further categories within the Books, eBooks & Audiobooks market are: Audiobooks, and eBooks.

eCommerce revenue development in the Books market in Montenegro

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Books market in Montenegro

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)71.543.525.696.27.268.756.712.4

Online share

eCommerce online share of the total Books market in Montenegro

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 Montenegrin Books retail market, the online share is 4.4% and will increase by an average of 12.3% to 7.1% by 2028.

eCommerce online share of the total Books market in Montenegro

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)21.4%20.3%67.4%82.7%55.0%86.7%14.2%77.3%

Market definition

Definition of the Books market within the Hobby & Leisure market

Market definition: Hobby & Leisure > Media > Books, eBooks & Audiobooks > Books The category Books includes the online trade of books (e.g. novels, trade literature, children's books, comics). This category does not cover ebooks and audiobooks. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Books (e.g. novels, trade literature, children's books, comics)

Out-of-scope

  • eBooks
  • Audiobooks

Market comparison

The Montenegrin Books market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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