The Quick Commerce market in Serbia has been gaining momentum in recent years, with an increasing number of players entering the market.
Customer preferences: Serbian customers are increasingly looking for convenience and speed when it comes to their shopping habits. Quick Commerce, with its promise of fast delivery and a wide range of products, is meeting these demands. Additionally, the younger generation in Serbia is more tech-savvy and comfortable with online shopping, which is contributing to the growth of the Quick Commerce market.
Trends in the market: One of the key trends in the Quick Commerce market in Serbia is the entry of global players. International companies are investing in the market, attracted by the country's growing economy and the increasing demand for online shopping. This has led to increased competition, with companies competing on factors such as delivery times, product range, and pricing.Another trend is the growth of partnerships between Quick Commerce companies and traditional retailers. This allows Quick Commerce companies to expand their product range and leverage the existing infrastructure of traditional retailers. It also provides traditional retailers with a new avenue for sales and customer acquisition.
Local special circumstances: One of the unique aspects of the Quick Commerce market in Serbia is the relatively low penetration of credit cards. This has led to the development of alternative payment methods, such as cash on delivery and mobile payments. Quick Commerce companies operating in Serbia need to be aware of these preferences and offer a range of payment options to cater to the local market.
Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, with a focus on attracting foreign investment. This has led to an increase in disposable income and a growing middle class, which is driving demand for online shopping. Additionally, the country's geographic location makes it an attractive hub for logistics and transportation, which is important for the Quick Commerce market. However, the market is still relatively small compared to other European countries, and there are challenges such as infrastructure and regulatory issues that need to be addressed for sustained growth.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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