Furniture & Homeware market in Montenegro

The Montenegrin Furniture & Homeware eCommerce market is predicted to reach US$12.5 million by 2024 and accounts for 11.7% 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 7.0%, resulting in a projected market volume of US$16.5 million by 2028. Within the Furniture & Homeware market ECDB considers the following two sub-markets: Furniture and Homeware.

Market development

eCommerce revenue development in the Decorations market in Montenegro

The Montenegrin Decorations eCommerce market is predicted to reach US$0.7 million by 2024 and accounts for 15.5% of the Homeware 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 3.3%, resulting in a projected market volume of US$0.8 million by 2028. The Decorations eCommerce market is a sub-market of the Homeware market. Further categories within the Homeware market are: Bedding, Carpets, Curtains & Blinds, Lamps, Other Homeware, and Tableware.

eCommerce revenue development in the Decorations 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 Decorations 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 %)80.913.954.628.288.029.46.081.0

Online share

eCommerce online share of the total Decorations 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 Decorations retail market, the online share is 27.5% and will increase by an average of 7.5% to 36.7% by 2028.

eCommerce online share of the total Decorations market in Montenegro

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)79.6%61.2%85.6%20.2%51.1%79.2%23.3%59.1%

Market definition

Definition of the Decorations market within the Furniture & Homeware market

Market definition: Furniture & Homeware > Homeware > Decorations The category Decorations includes the online trade of table linens (e.g. tablecloths, table runners, placemats, cloth napkins), wall art (e.g. paintings, prints, posters, pictures), mirrors, and more. This category does not cover tableware, lamps or carpets. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Table linens (e.g. tablecloths, table runners, placemats, cloth napkins)
  • Wall art (e.g. paintings, prints, posters, pictures)
  • Mirrors
  • Vases
  • Centerpieces
  • Clocks
  • Candles and candle holders
  • Decorative pillows and cushions
  • Photo frames
  • Decorative planters and pots
  • Outdoor cushions and pillows

Out-of-scope

  • Tableware
  • Lamps
  • Carpets
  • Curtains and blinds
  • Beddings

Market comparison

The Montenegrin Decorations market in a global comparison

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

in %

Source: ECDB analysis