Insights into the growth of Serbian eCommerce

Economy

Serbia is home to 7.06 million people with a total GDP of 38.3 billion USD and GDP per capita of 5,725 USD, which is expected to reach 7,562 USD by 2022.

Digital User Insights

There are currently 3.18 million eCommerce users in Serbia, who spend $99.16 USD online annually. Four years from now, an expected 4.15 million online shoppers will spend approximately $114.36 USD.

Internet usage

Dividing internet usage into age groups gives a better picture of the Serbian eCommerce market – 99% of 16-24 year olds, 95% of 25-34 year-olds and 87% of 35-44 year-olds log on daily. The older generations also log on regularly with 45-54 year-olds and over 55s showing a 75% and 81% daily penetration rate, respectively.

Product Categories

Total Serbian eCommerce revenue across all product categories is 315 million USD, and is expected to grow to 475 million USD by 2022. Electronics & Media is currently the leading product category in Serbia, accounting for 147.9 million USD market share, followed by Fashion, which generates 61.1 million USD in sales.

By 2022, Electronics & Media will still be the most purchased online category, with an estimated value of 209.5 million USD, and second favorite, Fashion will have an expected worth of 92.4 million USD.

Logistics

In 2016, Serbia was ranked 76th in the World Bank Logistics ranking.

Preferred Online Payments

76% of Serbian shoppers like to pay via prepaid card when shopping online.

Where does Serbia buy from?

Germany supplies Serbia with 2.59 billion USD in imports – ranging from cars to petroleum. Serbia’s other key import partners are Italy ($1.77 billion), Hungary ($1.48 billion), Turkey ($842 million) and Poland ($837 million).

Internet and Device Usage

Internet penetration in Serbia is currently 62.7%, and should reach 67.2% by 2022. Smartphone penetration is a little less (47.9%), but is projected to grow to 53.8% in the next four years.

89% of online shoppers in Serbia buy via desktop, a stark contrast to the amount of smartphone (4%) and tablet (1%) shoppers.

Advertising

In 2016, 24 million USD of Serbian ad spend was spent on digital advertising.

Social Media

3.2 million people in Serbia are active social network users, thanks to Facebook, Instagram and YouTube, which are the leading social networks.

For more market insights, check out the eShopWorld series of blogs covering a range of emerging eCommerce markets.