Ecommerce in Serbia

Ecommerce in SerbiaSerbia is a country in Southeastern Europe, with lots of neigboring countries. About 7 million people live here and Belgrade is the capital and also the largest city of the country. Since 2014, Serbia has been negotiating to join the European Union. Here’s what you need to know about ecommerce in Serbia:

Population 6.97 million people
– % internet users 73%
Online sales €412 million (2020)
Online stores worth mentioning: Gigatron, Srbotrade, Tehnomanija

Ecommerce events in Serbia

Every year there are several ecommerce events being organized in Serbia. We have a handy ecommerce events calendar, where you can find all the major online retail events in Europe.

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Ecommerce customers in Serbia

Data from the Statistical Office of the Republic of Serbia shows that 56 percent of Internet users in Serbia bought something online at least once, meaning that 43 percent never ordered goods or services online. One in three (34.2 percent) of users shopped online in the past three months, 9.7 percent did this over three months ago, and 13.1 percent more than a year ago.

PAYMENT METHODS – Data from the National Bank of Serbia shows that the use of payment cards (both credit and debit) at physical points of sale and ecommerce website is growing from year to year. Online card payments in Serbia are growing at an annual rate of about 55 percent. A popular card is DinaCard, a local payment method set up by the National Bank of Serbia in 2003 in cooperation with commercial banks.

But this extensive study shows that the preferred method of payment in Serbia is still cash. In 2018, only 450 to 500 online stores accepted payment cards from one of the five domestic banks., however, states that prepaid cards have the highest market share (76 percent), followed by credit cards (13 percent), mobiles (8 percent), e-wallets (2 percent) and bank transfer (1 percent).

The preferred method of payment in Serbia is cash.

PRODUCT CATEGORIES – Based on data from ecommerceDB it seems that Toys, Hobby & DIY is the largest product category in Serbia; it accounts for 27 percent of online revenue in Serbia. It’s closely followed by Fashion (26 percent), Furniture & Appliances (19 percent), Food & Personal Care (16 percent) and Electronics & Media (12 percent). Other data, from the Statistical Office of the Republic of Serbia, shows that as many as 63 percent of all products that were bought online in 2019 were sports products and clothing, followed by household goods, furniture and toys.

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The ecommerce market in Serbia

According to data conducted by Statista, the Serbian ecommerce industry was worth  413 million euros in 2020. It has been predicted that the compound annual growth rate for the period of 2020-2024 will be 8 percent.

A graph from the National Bank of Serbia shows the total value of realized internet transactions that are paid by card. For the last couple of years, this number has been growing with double digits and the value was worth over 453 million euros in 2020.

Ecommerce in Serbia

Big online stores in Serbia

According to EcommerceDB, the biggest ecommerce player in Serbia is Gigatron, an omnichannel electronics retailer from Serbia. The company generated revenues worth almost 29 million euros in 2020. Other popular ecommerce players in Serbia are Srbotrade (13.6 million euros in 2020) and Tehnomanija (11 million euros). These numbers are based on only the revenue that’s created in Serbia.

Read all our articles about ecommerce in Serbia.

Last update: July 2021