Serbia Sees 48% Growth In Online Shopping In Q1
Serbia has seen the e-commerce channel grow by 48% in the first quarter of the year, with 3.98 million transactions recorded in the period.
The Vice Governor of the National Bank of Serbia (NBS), Dragana Stanic, told an online conference that the use of e-commerce was boosted by the COVID-19 pandemic.
Out of the total, some 2.54 million transactions were made on domestic e-shopping sites, which is 82.2% higher than in the same period last year.
In 2019, the total number of purchases made on Serbian sites increased by 146.8% compared to 2018.
Regulatory changes, as well as improved infrastructure, have also contributed to the growth of online shopping.
A major factor was the introduction, by NBS, of an instant payment system, using an IPS QR code, the first such in the region. About 1.7 million Serbian citizens can now make instant payments, which are cheaper than classic payment cards.
A survey on the e-commerce market, conducted by Smart Plus Research at the end of February, showed that 75% of those polled bought something over the internet in the past 12 months.
The main motivations given by consumers for using the service are convenience, home deliveries, and access to foreign e-commerce sites.
About 13% of respondents say that they purchase food and drinks through e-commerce channels, with most of them (47%) paying in cash upon delivery.
The value of the average purchase is RSD 17.500 (€148.80).
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine