The Serbian Shopper in 2026: Loyal Only to Their Wallet
In the first half of 2026, the Serbian FMCG market continued to grow in value compared to the same period of both 2025 and 2024, despite a slowdown in shopping frequency. Shoppers are visiting stores less often, declining from 151 shopping trips in H1 2024 to 137 in H1 2026, but they are spending more per visit, resulting in an increase in the average basket value to RSD 970.
The decline in promotional sales share from 29% to 23% should be viewed in the context of Serbian government regulations that capped prices and retail margins for selected product categories from late 2025 through March 2026. At the same time, private label brands continue their steady growth, reaching a 25% value share, while purchases made through loyalty programs remain stable at around 29%.
According to the YouGov Behavior Change 2026 study, economic and budget-related concerns remain the dominant issue for Serbian consumers, significantly more so than across Europe on average. At the same time, shoppers are gradually moving away from purely defensive spending habits toward a more selective approach, carefully deciding where to save and where they are willing to spend more on quality and experiences.
This is also reflected in a greater willingness to spend on out-of-home experiences, as well as higher-than-average adoption of AI tools during the shopping process. As many as 58% of Serbian consumers use AI to learn about products, assess quality, and find the best deals, compared with 46% across Europe.
Key takeaway: Serbian consumers are shopping less frequently, but more deliberately. They remain highly budget-conscious, yet they are not necessarily looking for the lowest price. Instead, they are seeking the best value for money. The continued strength of private labels and the stable role of loyalty programs confirm that purchasing decisions are becoming increasingly rational and planned.
In other words, today’s Serbian consumer is loyal only to their wallet.
Methodology:
YouGov Shopper Serbia is built on continuously collected data from 2,000 households, representing the country’s total population.
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