South-Korean e-Commerce Overview

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South-Korean e-commerce overview

This comprehensive South-Korean e-commerce overview highlights that the country is currently ranked sixth globally. A total of 51 million people could potentially visit e-commerce websites in South Korea. Coupang is the most popular online retailer. Other significant online retailers operating in the South Korean market are, for example, SSG, Hmall, Nike, and Yes24. A diverse top five that emphasizes several categories, including toys, fashion, and electronics & media., a fashion brand company, is the South Korean market’s fastest-growing online retailer.

South Korean consumer behavior

According to Statista’s research report based on South Korean consumer behavior in 2022, around 61% of South Korean consumers will keep an eye out for special offers during online shopping. Therefore, lower prices are the most compelling reason shoppers buy online. In addition, 49% of online shoppers will conduct online research before making a purchase. Alongside clothing and shoes, electronics is the third most exciting category in South Korea. Furthermore, 30% of online shoppers plan to purchase a smartphone, and 24% plan to buy a pc or laptop in the next 12 months (Statista Search Department, 2022).

Finally, South Korea has a consumer society with an internet usage rate of 93% among the population. Therefore, it is not surprising that e-commerce holds a strong position in South Korea.

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