Serbian e-commerce market is growing rapidly, with Q1 sales exceeding 330 million euros!

Serbian e-commerce sales in Q1 exceeded 330 million euros

According to data from the National Bank of Serbia (NBS) obtained by BusinessDialogue, in the first quarter of 2023, there were 8.7 million dinar online shopping orders in Serbia, a strong increase of 25.76% compared to the same period last year.

Like other parts of Europe, Serbia’s e-commerce sales peaked during the outbreak of the pandemic and then slowed down. However, analysts pointed out that during this period, the country’s consumers had developed the habit of online shopping. Therefore, the e-commerce market in Serbia performed strongly in the first quarter.

In the first three months of this year, Serbia generated dinar 24 billion worth of e-commerce sales, an increase of 38.11% compared to the same period last year. On the other hand, since 2021, the country has added 752 online stores, and as of March, the total number of online stores in Serbia has reached 3,610.

In the first quarter of 2023, there were 2 million euro transactions in Serbia, a year-on-year increase of 29.96%; the total value was 96 million euros, a year-on-year increase of 36.49%. The total number of dollar transactions reached 1.5 million, a year-on-year increase of 25%; the total value was 37 million US dollars, a year-on-year increase of 8%.

According to bne IntelliNews’ calculations, the total transaction volume of these three currencies (dinar, euro, and dollar) reached as high as 336 million euros.

The data also showed that in April 2023, the popular online shopping websites in Serbia were Gigatron, Tehnomanija, and Srbotrade Apoteka, all of which saw an increase in traffic of more than 9%. The fastest-growing website in terms of traffic was Fashion and Friends, which increased by 59.8%.

It is worth noting that Ananas E-commerce, an e-commerce platform owned by Delta Holding, is actively expanding in Serbia. Nina Angelovska, the company’s international business development manager, said: “Ananas’ mission is to become the Amazon of the Balkans-bringing the online shopping experience of developed countries to the Balkans.”

BusinessDialogue learned that in order to achieve this goal, Ananas has acquired 100% equity of and, two online platforms, from Payten.

Editor ✎ Nicole/AMZ123

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