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 Homeware market in Montenegro

The Montenegrin Homeware eCommerce market is predicted to reach US$4.3 million by 2024 and accounts for 34.4% of the Furniture & 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 8.4%, resulting in a projected market volume of US$6.0 million by 2028. The Homeware eCommerce market is a sub-market of the Furniture & Homeware market. Further categories within the Furniture & Homeware market are: Furniture.

eCommerce revenue development in the Homeware 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 Homeware 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

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)33.886.95.58.824.148.892.228.4
as of Furniture & Homeware (in %)3.94.04.04.03.94.14.24.14.14.14.13.5

Online share

eCommerce online share of the total Homeware 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 Homeware retail market, the online share is 27.4% and will increase by an average of 7.8% to 36.9% by 2028.

eCommerce online share of the total Homeware market in Montenegro

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)4.7%45.5%26.8%52.5%30.2%76.8%92.0%24.3%

Market definition

Definition of the Homeware market within the Furniture & Homeware market

Market definition: Furniture & Homeware > Homeware The category Homeware covers the sale of lamps (e.g. indoor lamps, outdoor lanmps), tableware (e.g. dishes, cutlery), decorations (e.g. table linens, wall art), and more. This category does not cover furniture, interior finishes (e.g. floorings, paints, wallpapers) or interior design services. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Lamps (e.g. Indoor lamps, outdoor lanmps)
  • Tableware (e.g. dishes, cutlery)
  • Decorations (e.g. table linens, wall art)
  • Carpets (e.g. shag carpets, area rugs, runner rugs)
  • Curtains and blinds (e.g. drapes, valances, roller blinds)
  • Beddings (e.g. bed sheets, pillowcases)

Out-of-scope

  • Furniture
  • Interior finishes (e.g. floorings, paints, wallpapers)
  • Interior design services

Market comparison

The Montenegrin Homeware market in a global comparison

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

in %

Source: ECDB analysis