Market Research Report
South Korea B2C E-Commerce Market 2019
|Published by||yStats.com GmbH & Co. KG||Product code||911893|
|Published||Content info||54 Pages/Charts
Delivery time: 1-2 business days
|South Korea B2C E-Commerce Market 2019|
|Published: September 24, 2019||Content info: 54 Pages/Charts||
"yStats.com's new report: South Korea's B2C E-Commerce market projected to become the third largest in the world."
As of 2019, South Korea ranks third worldwide by online retail sales. The B2C E-Commerce market is well advanced, taking up nearly a quarter of the country's overall retail sales. Nevertheless, there is still room for more growth. The yStats.com report contains a projection that by around 2023, South Korea could ascend two ranks to become the world's number three in online retail sales, surpassing Japan and the UK.
The future growth is expected to be driven by mobile commerce and payment services, as well as cross-border online shopping. Well over 50% of online retail sales in South Korea is generated on mobile devices, with this share is becoming larger every year, according to statistics cited by yStats.com. In terms of E-Commerce competition, the top market share is held by Coupang, followed by other market leaders including eBay Korea, 11st, and others.
Coupang Corp., SK Telecom Co. Ltd., eBay Korea Co. Ltd, 11 Street Co Ltd, Wemakeprice Inc., Tmon Inc. (ticket monster), NAVER Corp, Lotte Group.