E-commerce is not well developed and conducting business on the Internet and ordering online while paying with a credit card is still rare. The financial sector leads the way with many commercial banks offering e-banking to their clients. According to a research study carried out by students at the Burch University in Sarajevo, the reason e-commerce has not taken off in Bosnia is not infrastructural nor technological but cultural. They point out that the technologies needed for the implementation and development of e-commerce in the country are available and online shops do exist in Bosnia and Herzegovina, but the population is not yet accustomed to shopping online. Mobile devices are not yet used for doing business online, mainly due to high mobile internet service prices. Bosnia was one of the last countries in the region to develop and adopt a major e-business law and related regulations.
With Heureka to Bosnia
Bosnia and Herzegovina is located in South Eastern Europe and is one of the least economically developed European countries. The per capita income in the country is low which limits the growth potential of certain markets and increases price sensitivity. The average revenue per user (ARPU) around €109 is however double compared to Serbia.
The spread of credit cards allows development of sales catalogs, advertising on television, radio, press and of course e-commerce thus offering huge potential. Paying in monthly installments, even for low-cost products, it wide-spread in Bosnia. Over 91% of the population has access to a mobile phone.
