E-commerce sales surge! This Eastern European market may become the next blue ocean for cross-border sellers

E-commerce sales surge! This Eastern European market may become the next blue ocean for cross-border sellers

According to the National Bank of Serbia , online sales in Serbia increased significantly in the first quarter of 2023, with total online transactions in local dinars , euros and dollars exceeding 336 million euros.

 

Like the rest of Europe, Serbia’s e-commerce sector has experienced a slowdown in growth following the pandemic , but analysts point out that during this period people have learned to trust online shopping, so the e-commerce trend may pick up again.

 

Data shows that in the first quarter of this year, there were 2 million transactions in euros in Serbia , with a value of 96 million euros, an increase of 29.96% and 36.49% year-on-year respectively .



On the other hand, the US dollar trading volume also reached US$1.5 million, an increase of 0.25% year-on-year, and the transaction value increased by 8% to US$37 million.

 

The most popular e-commerce and shopping websites in Serbia are technology brands Gigatron and Tehnomanija, as well as online pharmacy Srbotrade Apoteka, which have all seen growth rates of more than 9%. In addition, a clothing brand in Serbia achieved a growth of 59.8%.

 

Unlike the mainstream e-commerce platforms used by other European countries, Serbia has its own local e-commerce platform - Ananas E-Commerce .

 

Ananas’ mission is to become the Amazon of the Balkans to bring the online shopping experience of developed countries to these parts of the Balkans, Nina Angelovska, the company ’s international business development manager, said in an interview last November.

 

In addition to the e-commerce industry , Serbia's mobile banking business has also achieved rapid growth . Currently, more than 3 million Serbians use mobile banking services, an increase of 11.66% over the previous year.

 

A statistical agency found that Serbia was abandoning cash payments faster than other Balkan countries . Analysts speculated that the rapid development of related businesses was likely driven by the influx of Russian and some Ukrainian immigrants into Serbia .

E-commerce

Serbia

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