E-commerce continued to gain value share in 2021. While growth was not quite as high as in 2020, when value sales increased by more over a third, there was still very healthy double-digit value growth in 2021.
The main driver enabling increased e-commerce is the rising number of Serbians who have internet access in their homes. Furthermore, as the banking system becomes increasingly developed, a growing number of people have payment cards, allowing them to purchase goods and services online.
As a result of the 2020 pandemic lockdowns, there have been increasing partnerships between large retailers and delivery services that were until recently limited to food delivery from restaurants. Examples are supermarket chain Mercator – S’ partnership with delivery platform Glovo, as well as pharmacy chain Lilly Drogerie’s partnership with other delivery platform Wolt.
The outlook for e-commerce is very healthy, with double-digit constant value growth expected over the forecast period. Now that more Serbians have purchased online for the first time due to the pandemic, they will much more open to doing more online purchases in the future.
Despite e-commerce’s growing success, the channel will still face some challenges in the years ahead. For example, Serbia still has relatively low internet penetration, which will therefore impact online purchases.
Over the forecast period, the largest retailers in Serbia will focus on boosting their sales made online. Retailers are aware that e-commerce will gather pace in the years to come and are looking to take advantage of that.
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Sales of consumer goods to the general public via the Internet. Please note that this includes sales through mobile phones and tablets (i.e. m-commerce). E-commerce includes sales generated through pure e-commerce websites and through sites operated by store-based retailers. Sales data is attributed to the country where the consumer is based, rather than where the retailer is based. The definition of e-commerce is agnostic as to where actual payment takes place; if an order is initiated online, it is considered to be an e-commerce transaction, even if the order is ultimately paid for in-store (or elsewhere). As a result, all ‘click-and-collect’ and ‘collect-at-store’ transactions are counted as e-commerce sales. E-commerce excludes sales of: (a) Consumer-to-consumer (C2C) and business-to-business (B2B) sales, although please note that sales between businesses and consumers (i.e. B2C sales) on sites such as eBay are included; (b) Sales of motor vehicles, motorcycles and vehicle parts; (c) Tickets for events (sports, music concerts, etc.) and travel; (d) Sales of travel and holiday packages; (e) Revenue generated by online gambling sites; (f) Returned products/unpaid invoices; and (h) Internet sales from direct selling companies, as these are tracked in Direct Selling market size/shares. Example e-commerce brands include Amazon.com, Zappos.com, Apple.com, iTunes, Rakuten, Tesco.com, Dell.com, Coles Online, etc. 3rd Party Merchant sales through online marketplaces, such as Amazon.com, eBay.com and Walmart.com, are included and split out in shares. 3rd party merchants are the summation of sales that come from businesses that are present on an online marketplace (e.g. Amazon, Alibaba). Marketplaces are websites that allow multiple merchants to sell on the marketplace website, with the marketplace operator processing the transactions, but many marketplaces provide offer other services as to help with shipping, handling, payment, and product storage. The marketplace is not the merchant of record legally, but for the sake of shares, sales from 3rd part merchants are attributed to the marketplace brand operator.See All of Our Definitions
This report originates from Passport, our E-Commerce (Goods) research and analysis database.
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