Ecommerce in Bosnia and Herzegovina

Bosnia and Herzegovina is a small Western Balkan economy of 3.3 million people. At least 39 percent of the population buys goods online. The country is currenlty taking steps to become a member of the European Union, which will impact ecommerce regulation and development.

Content:

• Ecommerce customers
• Ecommerce market
• Big online stores in Bosnia & Herzegovina
• Ecommerce events
• News from or about Bosnia & Herzegovina

Background on Bosnia and Herzegovina

ECONOMIC ASPECT – The ecommerce market in Bosnia and Herzegovina is undergoing a dynamic and transformative phase, characterized by significant trends that are reshaping the online shopping landscape and paving the way for future growth. The average value of a single card transaction in 2022 was a little less than 50 euros, and the average annual turnover per card amounted to 3,090 euros.

The ecommerce sector accounts for 0.95 percent of the country’s GDP, based on the last available data from 2022, while 39 percent of the population buys goods online.

Bosnia and Herzegovina is following global trends where more businesses are opting for online sales only, with over 34.4 percent of surveyed online stores operating exclusively online, indicating a growing trend. A significant increase in online payment turnover, especially for transactions abroad, underscores the globalized nature of consumer behavior in Bosnia and Herzegovina. Residents are increasingly participating in international markets. This presents opportunities for local ecommerce platforms to diversify and address the evolving needs of their customer base.

POLITICAL ASPECT – The country is currently not a part of the European Union yet. Because of that, its regulations and ecommerce landscape lag behind EU standards. In 2022, it became a candidate for membership. To actually become a member, the country needs to strengthen the rule of law, combat corruption and organized crime, uphold fundamental rights and manage migration.

These conditions also impact the country’s ecommerce sector and will help create a trustworthy digital marketplace. Online stores in the country will need to meet EU ecommerce standards.

Ecommerce customers

PAYMENT METHODS – According to research in 2022, online shoppers in Bosnia and Herzegovina list cash on delivery as the most popular payment method with a share of 53.8 percent. Card payment is preferred in 32.8 percent of cases. Smaller shares are occupied by payments through PayPal, AliPay, or similar services (9.7 percent), bank transfers (1.9 percent), and bank money transfers (1.8 percent).

Cash on delivery is the most popular payment method in this country.

PRODUCT CATEGORIES – The products that are most often bought online in the country are clothing (14.7 percent), footwear (9.6 percent), household items (8.2 percent), and cosmetics and personal care products (5.7 percent).

RISE OF INTENSIVE USERS – The so-called ‘intensive users’ of ecommerce are on the rise, as indicated by research conducted by the eCommerce Association in Bosnia and Herzegovina in 2024. According to their findings, 7.4 percent of respondents have made more than 10 purchases in the past three months.

These individuals could potentially be identified as high-value customers for ecommerce platforms. The rise of intensive users can be explained by several factors;

• the growing trust in online transactions and the reliability of ecommerce platforms
• the availability of diverse product offerings and competitive pricing online encourages users to shop more frequently
• the prevalence of mobile devices and the convenience of mobile access have further facilitated this trend, allowing users to shop anytime and anywhere

Ecommerce market of Bosnia and Herzegovina

The ecommerce market in Bosnia and Herzegovina is estimated to be worth 627.3 million euros by the end of 2024. The majority of respondents in research done by the eCommerce association in Bosnia and Herzegovina in 2024 (37.7 percent) have made 2 to 3 purchases in the last three months, indicating regular use of ecommerce opportunities but with a moderate number of transactions. The segment with 4 to 5 purchases (21.8 percent) and the segment with 6 to 10 purchases (11.2 percent) further confirm the growing trend of online shopping among the population.

Ecommerce in Bosnia and Herzegovina is estimated to be worth 627.3 million euros by the end of 2024.

PREFERENCE LOCAL STORES – Regarding local shopping compared to regional or European, 30 percent of respondents indicated they buy products from the EU, over 40 percent of respondents buy regionally, and smaller percentages relate to Africa, the American market, and Australia. The majority of online purchases are made on online stores within Bosnia and Herzegovina (43.4 percent), indicating a strong orientation towards the domestic market.

DEVICES – In 2023, an impressive figure of 83.4 percent of online purchases were completed on mobile phones. This shows a trend towards mobile ecommerce environments. It also highlights the need for optimized websites for mobile devices and applications.

Big online stores

The largest player in the ecommerce market in this country is Ekupi, the leading online marketplace in Bosnia and Herzegovina. It offers a wide array of products from various sellers, including electronics, clothing, and household items. Other well-known players are Domod.ba, for home appliances, and Sport Vision for sports equipment and apparel.

Ecommerce events in Bosnia & Herzegovina

While Bosnia and Herzegovina may not currently have multiple dedicated annual ecommerce events like larger markets, there are a few events on intersection between ecommerce, digital marketing and entrepreneurship. These include eCommerce Day and Sarajevo Unlimited.  Check out our ecommerce events calendar for all the major online retail events in Europe.