Fashion market in Serbia

The Serbian Fashion eCommerce market is predicted to reach US$157.8 million by 2024 and accounts for 16.9% of the total 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 -0.1%, resulting in a projected market volume of US$157.4 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 Headwear market in Serbia

The Serbian Headwear eCommerce market is predicted to reach US$1.1 million by 2024 and accounts for 22.5% of the Fashion 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 7.5%, resulting in a projected market volume of US$1.4 million by 2028. The Headwear eCommerce market is a sub-market of the Fashion Accessories market. Further categories within the Fashion Accessories market are: Belts, Other Accessories, Scarves & Shawls, Sunglasses, and Wallets & Purses.

eCommerce revenue development in the Headwear 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 Headwear 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 %)40.994.192.264.799.135.379.061.1

Market definition

Definition of the Headwear market within the Fashion market

Market definition: Fashion > Bags & Accessories > Fashion Accessories > Headwear The category Headwear includes the online trade of hats (e.g. bucket hats, sun hats, berets), beanies, baseball caps, and more. This category does not cover safety helmets and bicycle helmets. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Hats (e.g. bucket hats, sun hats, berets)
  • Beanies
  • Baseball caps
  • Headbands
  • Hijabs

Out-of-scope

  • Safety helmets
  • Bicycle helmets

Market comparison

The Serbian Headwear market in a global comparison

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

in %

Source: ECDB analysis