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 Toys market in Montenegro

The Montenegrin Toys eCommerce market is predicted to reach US$2.6 million by 2024 and accounts for 9.2% of the Hobby & Leisure 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 10.5%, resulting in a projected market volume of US$3.9 million by 2028. The Toys eCommerce market is a sub-market of the Hobby & Leisure market. Further categories within the Hobby & Leisure market are: Bullion & Precious Metal, Camping & Adventure, Erotic & Adult, Flowers & Gifts, Media, Musical Instruments, Other Hobby & Leisure, Pet Supplies, Smoking Supplies, Sports Equipment, and Stationery, Crafts & Art Supplies.

eCommerce revenue development in the Toys 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 Toys 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 %)71.792.997.816.649.775.021.614.6

Online share

eCommerce online share of the total Toys 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 Toys retail market, the online share is 4.4% and will increase by an average of 11.5% to 6.8% by 2028.

eCommerce online share of the total Toys market in Montenegro

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)83.2%97.9%49.0%74.9%95.7%24.4%19.5%89.2%

Market definition

Definition of the Toys market within the Hobby & Leisure market

Market definition: Hobby & Leisure > Toys In the category Toys digital channels are used to sell a variety of products, including baby and toddler toys (e.g. cuddly toys, rattles) and games (e.g. board games, card games). Not part of the category are video games and collectibles. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Baby and toddler toys (e.g. cuddly toys, rattles)
  • Games (e.g. board games, card games)

Out-of-scope

  • Video Games
  • Collectibles

Market comparison

The Montenegrin Toys market in a global comparison

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

in %

Source: ECDB analysis

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