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 Handbags market in Serbia

The Serbian Handbags eCommerce market is predicted to reach US$2.5 million by 2024 and accounts for 41.4% of the Luggage & Bags eCommerce market in Serbia. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be -0.4%, resulting in a projected market volume of US$2.4 million by 2028. The Handbags eCommerce market is a sub-market of the Luggage & Bags market. Further categories within the Luggage & Bags market are: Backpacks & Daypacks, Hip & Fanny Packs, Other Luggage & Bags, and Suitcases.

eCommerce revenue development in the Handbags 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 Handbags 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

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)94.53.967.617.444.181.866.936.7

Market definition

Definition of the Handbags market within the Fashion market

Market definition: Fashion > Bags & Accessories > Luggage & Bags > Handbags The category Handbags includes the online trade of handbags (e.g. tote bags, shoulder bags, crossbody bags, clutches). This category does not cover wallets and purses, backpacks and daypacks or hip and fanny packs. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Handbags (e.g. tote bags, shoulder bags, crossbody bags, clutches)

Out-of-scope

  • Wallets and purses
  • Backpacks and daypacks
  • Hip and fanny packs

Market comparison

The Serbian Handbags market in a global comparison

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

in %

Source: ECDB analysis