With an average annual growth rate of over 102%, South Korea's Coupang has become the fastest growing retailer in the world

According to a survey, the fastest growing retail business in the world is South Korea 's Coupang .

Deloitte Group released the " 2021 Global Retail Industry Leaders " on the 11th, and announced that Coupang's average annual growth rate in fiscal years 2014-2019 was 102.6%. In terms of sales as of fiscal year 2019 (ending June 30, 2020), it was the highest growth rate among the top 250 companies in the world .

The second fastest-growing company was India's Reliance Retail, which grew 55.1 % annually . It was followed by the United States' Wayfair, which grew 47.2% annually . The average annual growth rate of the 50 fastest-growing companies during this period was 19.1%.

Based on its rapid development , Coupang has become one of the "Top 250 Global Distribution Companies" (based on sales) in this year's survey , ranking 189th .

There are eight Korean distribution companies in the top 250 sales ranking . Following E-Mart, Lotte Shopping, GS Retail, Homeplus and Shinsegae, which entered the list last year , Coupang (No. 189), Hotel Shilla (No. 233) and E-Land World (No. 243) have newly joined.

The analysis shows that Coupang, which has no offline stores, has established distribution centers throughout South Korea and its strategy of improving its competitiveness in fast delivery is effective. Among the 10 fastest-growing companies, U.S. online furniture retailer Weifair (47.2%) and China's JD.com (36.3%) also have business models similar to Coupang.

Deloitte also said: " Coupon's growth in fiscal 2019 was attributed to the expansion of delivery services, which enabled overnight and same-day delivery nationwide. Another major growth factor was a solid customer base. "

In order to maintain its growth momentum, Coupang launched a plan to build large-scale logistics centers in North Chungcheong Province, North Jeolla Province and South Gyeongsang Province after it was listed on the New York Stock Exchange in March this year. This is a strategy to further build a rocket delivery area.

As an e-commerce giant with deep roots in South Korea, Coupang has also simultaneously started to develop its overseas markets.

Coupang has been preparing to enter the Southeast Asian market since last year . Coupang started in Singapore, taking the first step towards the Southeast Asian online shopping market worth US$62 billion (about 70 trillion won last year).

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