eCommerce market in Serbia

Serbia is the 68th largest market for eCommerce with a predicted revenue of US$982.0 million by 2024, placing it ahead of Iraq. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 6.9%, resulting in a projected market volume of US$1,282.4 million by 2028. With an expected increase of 7.9% in 2024, the Serbian eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Serbia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Serbian eCommerce market. Hobby & Leisure is the largest market and accounts for 26.9% of the Serbian eCommerce revenue. It is followed by Electronics with 20.5%, Fashion with 16.9%, Furniture & Homeware with 11.7%, Care Products with 9.5%, DIY with 9.0%, and Grocery with the remaining 5.7%.

Market development

eCommerce revenue development in Serbia

Serbia is the 68th largest market for eCommerce with a predicted revenue of US$982.0 million by 2024, placing it ahead of Iraq. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 6.9%, resulting in a projected market volume of US$1,282.4 million by 2028. With an expected increase of 7.9% in 2024, the Serbian eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Serbia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Serbian eCommerce market. Hobby & Leisure is the largest market and accounts for 26.9% of the Serbian eCommerce revenue. It is followed by Electronics with 20.5%, Fashion with 16.9%, Furniture & Homeware with 11.7%, Care Products with 9.5%, DIY with 9.0%, and Grocery with the remaining 5.7%.

eCommerce revenue development in Serbia

in million US$

eCommerce revenue growth in Serbia

in %

Net eCommerce revenue split by sub-category

in %
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 %) 85.9 19.2 41.3 6.7 7.5 50.3 21.4 41.2

Online share

eCommerce online share in Serbia

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 Serbian retail market, the online share is 3.8% and will increase by an average of 11.6% to 5.9% by 2027.

eCommerce online share in Serbia

in %
2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 73.8% 25.8% 63.8% 7.5% 57.7% 29.5% 30.6% 27.0%

Top stores

Top five online stores in Serbia by net sales 2022

The biggest player in the Serbian eCommerce market is gigatron.rs. The store had a revenue of US$58.7 million in 2022. Store rankings include every store that generates revenue in Serbia. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Serbia was considered.

eCommerce net sales generated in Serbia in 2022

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m 8.3%
US$550.0m
12.0%
US$4,600.0m 12.4%
US$470.0m
3.9%
US$1,190.0m 33.6%
US$430.0m
20.6%
US$2,122.0m 18.0%
US$370.0m
20.7%
US$1,814.0m 12.6%

Payment Methods

Top 5 offered payment methods in the Serbian eCommerce market

With 83.9% share Cash on delivery is the most commonly offered payment method of all online stores in the Serbian eCommerce market in 2022. Unlike Cash on delivery which is of type Cash on delivery VISA, Mastercard, and American Express with shares of 72.3%, 69.6%, and 42.9% are of type Cards.

Top 5 offered payment methods in the Serbian eCommerce market

in %

See all stores offering


Shipping Service Provider

Top 5 offered shipping providers in the Serbian eCommerce market

Despite BEX Express's dominant position with 27.4% of online stores opting for its services, the Serbian eCommerce market in 2022 remains diverse and competitive. Several other shipping service providers, including Post Express, D Express, City express, and Daily Express, hold smaller but significant shares, contributing to a dynamic and fragmented market.

Top 5 offered shipping providers in the Serbian eCommerce market

in %