Insights into the growth of Serbia ecommerce profiling payment methods, target audiences, marketing, social media, economy and logistics
Economy
Serbia is home to 6.9 million people with a total GDP of US$60 billion. GDP per capita is currently US$8,748 and expected to reach US$12,556 by 2026. Serbia is ranked as the 90th richest country by the World Bank GDP per capita rankings.
See more exciting markets in the Baltics such as Latvia, Estonia and Lithuania.
Digital User Insights
There are currently 3.6 million ecommerce users in Serbia, expected to reach 4.2 million by 2025. The average user spends US$134 online, which will grow to US$146 by 2025.
Product Categories
Total ecommerce revenue across all product categories is US$490 million, expected to reach US$609 million by 2025. Fashion is currently the leading product category, accounting for US$129 million market share. Electronics and Media is second, accounting for US$58 million.
Logistics
In 2018, Serbia was ranked 65th in the World Bank Logistics ranking. 56% of Serbia’s population reside in urban areas.
Preferred Online Payments
39% of shoppers used credit cards when shopping online, and a further 13% used credit cards. Mobile payments were also used online accounting for 8% of purchases.
Where does Serbia buy from?
Serbia imports from from Germany ($3.57B), Russia ($2.4B), Italy ($2.16B), Hungary ($1.79B), and China($1.49B).
Internet and Device Usage
Internet penetration in Serbia is currently at 78%, and should reach 86% by 2025. Smartphone penetration is 70% and is projected to grow to 83% by 2025.
Marketing
Total Marketing spend in Serbia has risen in recent years, as advertisers steadily invest more in digital and television advertising. Digital has grown to the second highest market spend reaching €29 million (approx US$34 million).
Social Media
Serbia’s Social Media Penetration is 4.88 million people in 2021, with this expected to reach 5.09 million people by 2025. Facebook is by far the leading social network. Twitter, Tumblr, Pinterest and Reddit all have a much smaller market share.
For more market insights, check out the ESW series of blogs covering a range of emerging ecommerce markets.
*Insights derived from ESW data, Statista, WorldBank, OECD and other industry sources.
