The transaction volume was 85.9 billion, the proportion of mobile shopping exceeded 70%, and the Korean market made a strong comeback!

Coupang, the Korean Amazon, has achieved impressive results

Recently, the news that the Korean e-commerce company Coupang was listed on the New York Stock Exchange has been making headlines. Last week, Coupang completed the largest IPO this year, with a market value of US$84.5 billion , becoming a strong rival to many e-commerce platforms.

Coupang, known as the " Korean version of Amazon ", is the leader in the Korean e-commerce market, with more than 25 million registered users , accounting for about half of the Korean population. It is understood that Coupang's business scope is very wide, including group buying, platforms, etc., providing consumers with a variety of products such as food, drink, play, and entertainment.

Today, Coupang's success is closely related to its logistics and distribution . The prospectus shows that Coupang's logistics center covers 70% of South Korean residents within 7 miles, ensuring that more than 99% of orders can be delivered within 24 hours.

In addition, the platform's electronic payment and a series of discounts have attracted more users, and the consumer experience has been continuously improved.

Coupang's listing has opened a new door for the Korean e-commerce market.

Mobile shopping accounts for more than 70% , and sales of these products have soared ...

In the Asia-Pacific region, South Korea's e-commerce market is also on the list. Although the population is not as large as other major countries, South Korean consumers have strong purchasing power. Shopping is one of the daily activities of South Koreans, and the number of overseas shoppers has exceeded 15 million .

The development of the Korean e-commerce market is inseparable from the penetration of the Internet and the popularity of smartphones . Data shows that due to the rapid development of technology, the usage rate of smartphones in Korea has reached 93% , and more than one-third of Koreans spend about 25 hours on the Internet every week.

Affected by the epidemic and the cold wave, the number of online shopping users in South Korea has surged, and the proportion of mobile shopping has exceeded 70% . In January this year, the transaction volume of online shopping in South Korea exceeded 85.9 billion (15.62 trillion won).

It is reported that fried chicken and beer are not the only popular items in South Korea. Semi-finished Chinese food is also a hot item for online shopping among South Koreans . Oyster sauce, chili sauce, and bean paste from China are extremely popular in South Korea.

In addition, small home appliances are also hot-selling in the Korean market, with sales of 23 home appliances such as air conditioners, washing machines, and televisions increasing by 14% compared to last year. It is worth mentioning that the prospects for home appliances in the market in recent years should still be very good, and some personalized and fully functional products will be more popular.

Sellers who are interested in joining the market should note that Korean consumers are more receptive to products with high unit prices , so they should pay more attention to this when listing products.

South Korea

Coupang