Fashion market in Montenegro

The Montenegrin Fashion eCommerce market is predicted to reach US$56.4 million by 2023 and accounts for 18.0% 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 2023-2027) will be 2.4%, resulting in a projected market volume of US$62.1 million by 2027. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the High Heels & Pumps market in Montenegro

The Montenegrin High Heels & Pumps eCommerce market is predicted to reach US$1.6 million by 2023 and accounts for 10.5% of the Footwear eCommerce market in Montenegro. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be -0.6%, resulting in a projected market volume of US$1.6 million by 2027. The High Heels & Pumps eCommerce market is a sub-market of the Footwear market. Further categories within the Footwear market are: Active Footwear, Boots, Flat Shoes, Other Footwear, and Sandals.

eCommerce revenue development in the High Heels & Pumps 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 High Heels & Pumps 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

2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 36.1 76.8 83.9 23.8 7.8 49.2 10.3 52.0
AOV (in US$) 0.2 0.3 0.9 0.1 0.2 0.7 0.5 0.9
CVR (in %) 23.2 82.8 45.3 54.2 27.7 47.6 5.0 13.8
AOV: Average Order Value CVR: Conversion Rate

Online share

eCommerce online share of the total High Heels & Pumps 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 High Heels & Pumps retail market, the online share is 13.5% and will increase by an average of 9.2% to 19.1% by 2027.

eCommerce online share of the total High Heels & Pumps market in Montenegro

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 27.7% 94.6% 32.8% 61.3% 47.5% 3.3% 26.9% 75.4%

Market definition

Definition of the High Heels & Pumps market within the Fashion market

Market definition: Fashion > Footwear > High Heels & Pumps The category High Heels & Pumps includes the online trade of high heels (e.g. stilettos, platform heels, peep-toe heels), pumps and wedges. This category does not cover sandals with heels and boots with heels. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • High heels (e.g. stilettos, platform heels, peep-toe heels)
  • Pumps
  • Wedges

Out-of-scope

  • Sandals with heels
  • Boots with heels