In the past year, Serbia recorded a record 82.4 million online purchases, averaging over 225,000 purchases per day, according to the National Bank of Serbia (NBS).
The NBS states that online shopping has become a significant segment of the payment market when it comes to card and e-money transactions, with a consistent increase in the number of online purchases observed in recent periods.
In 2024, there was a 39.2% rise in online purchases compared to 2023, which saw 59.2 million purchases. Compared to five years ago, specifically 2020, the number of online purchases in 2024 was 288.5% higher, or 3.9 times more.
The central bank specifies that of the total number of online purchases made by clients of payment service providers in 2024, more than two-thirds (68.5%) were made in the domestic currency. The most significant foreign currency contributions were from the euro (20%), followed by the US dollar (9.6%), the British pound (0.3%), the Swiss franc (0.1%), and other currencies, which accounted for 1.6% of the total online purchases.
By the end of last year, the number of domestic online stores had grown to 4,726, marking an increase of 17.9% compared to the end of 2023 and a 134.8% rise compared to the end of 2020.
The NBS highlights that the growth in the number of online stores has led to an increase in the number of online purchases in Serbia. Dinar-denominated purchases in 2024 saw a 39.6% increase compared to 2023, while their value grew by 41.9%. The total value of these transactions amounted to 162.3 billion dinars, with 56.5 million purchases made.
Regarding foreign online stores, Serbia experienced a 56.6% increase in euro-based purchases compared to 2023. The number of such purchases rose from 10.5 million to 16.5 million, while their value increased by 40.5%, reaching 735.2 million euros from 523.2 million euros.
The NBS also notes that online purchases made in US dollars grew at a slower pace than those in dinars and euros, with a 10.4% increase. These purchases rose from 7.2 million to 7.9 million, and their value grew by 24.4%, from 174.7 million dollars in 2023 to 217.4 million dollars in 2024.
The central bank further clarifies that the data provided by payment service providers to the NBS does not include purchases paid for by cash on delivery.
