E-mail Advertising - Serbia

Serbia

Highlights

In Serbia, ad spending in the E-mail Advertising market is forecasted to reach US$4.04m by 2024.
The anticipated annual growth rate (CAGR 2024-2030) is 2.58%, leading to a projected market volume of US$4.70m by 2030.
When compared globally, the United States is expected to have the highest ad spending at US$3.40bn in 2024.
The average ad spending per internet user in the E-mail Advertising market is projected to be US$0.69 in 2024.
Serbia's E-mail Advertising market is experiencing a surge in personalized content strategies, enhancing engagement and conversion rates for advertisers.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Email Advertising market in Serbia has been experiencing steady growth in recent years, driven by increasing customer preferences for targeted and personalized marketing campaigns.

Customer preferences: Serbian customers have shown a growing preference for receiving personalized and relevant marketing messages via email. This preference can be attributed to several factors. Firstly, email allows for direct and immediate communication with customers, enabling businesses to deliver timely and tailored messages. Secondly, email marketing campaigns can be easily personalized based on customer data and preferences, resulting in higher engagement and conversion rates. Finally, email advertising is cost-effective and offers a high return on investment, making it an attractive option for businesses in Serbia.

Trends in the market: One of the key trends in the Email Advertising market in Serbia is the increasing adoption of automated email marketing platforms. These platforms allow businesses to automate various aspects of their email marketing campaigns, such as sending personalized emails based on customer behavior and preferences. This trend is driven by the need for efficiency and scalability, as businesses seek to reach a larger audience with personalized messages without increasing their marketing resources. Another trend in the market is the integration of email marketing with other digital marketing channels. Businesses in Serbia are recognizing the importance of a cohesive and integrated marketing strategy, and are incorporating email marketing into their broader digital marketing efforts. This integration allows for consistent messaging across different channels, resulting in a more impactful and effective marketing campaign.

Local special circumstances: The Email Advertising market in Serbia is influenced by several local special circumstances. Firstly, Serbian consumers have a relatively high internet penetration rate, which provides a large and receptive audience for email marketing campaigns. Additionally, the Serbian market is characterized by a high level of competition, particularly in industries such as retail and e-commerce. In this competitive landscape, businesses are increasingly turning to email advertising as a cost-effective and efficient way to reach and engage with their target audience.

Underlying macroeconomic factors: The growth of the Email Advertising market in Serbia is also supported by favorable macroeconomic factors. Serbia has experienced steady economic growth in recent years, resulting in an expanding middle class with higher disposable incomes. This has led to increased consumer spending and a greater demand for products and services, creating opportunities for businesses to leverage email advertising to reach and attract these consumers. In conclusion, the Email Advertising market in Serbia is developing due to customer preferences for targeted and personalized marketing, the adoption of automated email marketing platforms, the integration of email marketing with other digital channels, local special circumstances such as high internet penetration and competitive market dynamics, and favorable macroeconomic factors. As businesses in Serbia continue to recognize the benefits of email advertising, the market is expected to further expand in the coming years.

Data coverage:

The data encompasses B2B enterprises. Figures are based on E-mail Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for creating and sending e-mail advertisements.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet coverage. 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 is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets. The main drivers are GDP per capita, consumer spending per capita, and internet coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.