Fashion market in Serbia

The Serbian Fashion eCommerce market is predicted to reach US$158.6 million by 2024 and accounts for 17.2% of the total eCommerce market in Serbia. 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 1.7%, resulting in a projected market volume of US$169.4 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the Fashion Accessories market in Serbia

The Serbian Fashion Accessories eCommerce market is predicted to reach US$4.8 million by 2024 and accounts for 25.9% of the Bags & Accessories eCommerce market in Serbia. 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 5.0%, resulting in a projected market volume of US$5.8 million by 2028. The Fashion Accessories eCommerce market is a sub-market of the Bags & Accessories market. Further categories within the Bags & Accessories market are: Jewelry & Watches, and Luggage & Bags.

eCommerce revenue development in the Fashion Accessories market in Serbia

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 Fashion Accessories market in Serbia

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 %)64.226.470.745.758.623.066.19.6
as of Bags & Accessories (in %)2.92.72.72.52.52.42.42.32.22.12.12.0

Market definition

Definition of the Fashion Accessories market within the Fashion market

Market definition: Fashion > Bags & Accessories > Fashion Accessories The category Fashion Accessories includes the online trade of belts, scarves and shawls, sunglasses, and more. This category does not cover luggage and bags and jewlery and watches. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Belts
  • Scarves and shawls
  • Sunglasses
  • Headgear
  • Wallets
  • Wallets and purses

Out-of-scope

  • Luggage and bags
  • Jewlery and watches

Market comparison

The Serbian Fashion Accessories market in a global comparison

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

in %

Source: ECDB analysis