As it is known, the issue of analysing the efficiency of all companies, which means trade companies, is very current, significant and complex. In this context, mathematical methods and models are increasingly being applied. Having this insight, this paper investigates the efficiency of food retailers in Serbia using AHP (Analytical Hierarchy Process) and DEA (Data envelopment analysis) methods. The aim and purpose of this paper is to examine the current efficiency of food retailers in Serbia in order to improve it in the future by taking appropriate measures. Of all the observed optimization criteria (purchase value of sold goods, operating costs, gross margin and net profit), the most significant is the purchase value of sold goods. The most efficient food retailer in Serbia is Delhaize Serbia. According to the DEA analysis, Mercator-S is inefficient. In order to improve the efficiency of food retailers in Serbia, it is necessary to apply new business models (private label, multi-channel sales, organic food sales, etc.), the concepts of strategic management accounting and strengthen the digitalization of business.
