E-commerce in Serbia

E-commerce

E-commerce market

E-commerce revenue in Serbia amounted to US$ 319 million in 2018 and is expected to reach US$ 480 million by 2022, at an estimated annual growth rate of 10.8% (Statista). According to Euromonitor International, pay-on-delivery is still a common practice, although online payments are increasingly adopted as a business practice. When it comes to online payment methods, prepaid cards are the preferred method, accounting for 76% of transactions in 2017. As for preferred devices, the majority of online shoppers in Serbia buy via desktop (89%), while only 4% of them use their smartphone to shop, and 1% prefer their tablets. A report by Euromonitor International indicated that many Serbian consumers are unaware or distrustful of mobile internet retailing, which is confirmed by the low rate of people who use their smartphones to make purchases. Electronics & media is currently the most popular product category in Serbia, accounting for US$ 147.9 million in sales, followed by fashion, which generates US$ 61.1 million. The most popular online stores in Serbia are international e-commerce players such as Amazon, eBay, and Alibaba, although domestic e-stores such as CT Retail (owner of ComTrade), Win Win, and Tehnomanija also sell consumer electronics and appliances. Improving Internet speed and growing consumer confidence offer a positive outlook for internet retailing in Serbia. According to a 2017 report by the Statistical Office of the Republic of Serbia, 49.9% of Internet users have never bought goods or services over the internet.