Serbia flag Serbia: Buying and Selling

Advertising and marketing in Serbia

Marketing opportunities

Consumer Profile
With a median age of 43.4 years (CIA - World Factbook, 2020 est.) and a GDP per capita of USD 8,750 (IMF, 2021), Serbia has a low-middle income and rapidly ageing consumer population. The poverty rate reaches almost 25% (one of the highest in Europe - Eurostat, 2019) and most of the Serbs touched by poverty live in rural areas (World Bank). There are also considerable economic disparities among consumers as Serbia suffers from high income inequality (one of the highest Gini Coefficients in Europe with a score of 33.3 points in 2019 - Eurostat, latest data available). The capital city of Belgrade itself generates 40% of the national wealth, while Southern and Eastern Serbia only account for 14% (Heureka Group, 2021). 
Serbian consumers show interest in the country of origin and tend to favour local products, followed by those made in Germany and the EU. They tend to avoid products made in Croatia, China and Albania (Blic survey, latest data available).
Serbian consumers also show a growing interest in high-quality food and fresh products.
Consumer Behaviour
Serbian consumers have gradually become price-sensitive over the recent years with the crisis negatively affecting the purchasing power since 2008. The price remains by far the most important criterion when it comes to maintaining or changing spending habits. According to a Nielsen survey, 77% of Serbian consumers rarely buy a product they desire rather than need. In 2019, Serbian consumers spent on average RSD 22,977 per month on food and non-alcoholic beverages (34.2% of the total consumption) and RSD  11,182 on housing and utilities (16.7% of the total consumption) (Statistical Office of the Republic of Serbia, latest data available). Serbian consumers are further impacted by an inflation rate of 2.2% in 2021. It is expected to remain around 2.5% in 2022 and 2023 (IMF).

Serbian consumers opt more and more for online shopping (especially cross-border retail for lower prices), which is expected to grow at a compound annual growth rate (CAGR 21-25) of 5.59% up until 2025. In 2021, 52.7% of Serbs are online shoppers and this percentage is expected to reach 61.4% in 2025 (Statistica).
Consumers Associations
National Consumer Organisation of Serbia (NOPS)
Main Advertising Agencies
DNA Communications
Direct Media
Leo Burnett Serbia
McCann Beograd
Grey Advertising

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Latest Update: May 2024