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South Korea B2C E-Commerce Market 2019

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Description

Countries Covered: South Korea

Pages: 54

Publication Date: 24/09/2019

Questions Covered in the report:
How does South Korea rank compared to other top B2C E-Commerce markets worldwide?
What growth rate is projected for South Korea’s B2C E-Commerce sales through 2023?
How high is the M-Commerce share of online retail sales in South Korea in 2019?
What are the best selling product categories in South Korea’s online retail?
Who are the leading B2C E-Commerce market players in South Korea?

Key findings:

South Korea to become the third largest B2C E-Commerce market worldwide

South Korea maintains B2C E-Commerce growth potential

Currently the fifth largest market worldwide in terms of B2C E-Commerce sales, South Korea boasts an advanced digital and logistics infrastructure and one of the world’s largest online shares of total retail sales. Despite this level of maturity, digital commerce sales in South Korea are still growing at double-digit rates, spurred by mobile and cross-border shopping trends. According to one projection cited in the yStats.com report, at this rate South Korea could overtake Japan and the UK to become the third largest B2C E-Commerce market in the world by 2023, surpassed by China and the USA only.

M-Commerce increases its share of online sales in South Korea

South Korea has one of the world’s most tech-savvy consumers, with mobile shoppers outnumbering PC-based buyers, according to the latest data included in the yStats.com report. The M-Commerce share of online sales has surpassed the 50% market several years ago and is still climbing up. Another rising trend is overseas shopping. While only just above a quarter of digital buyers in South Korea make purchases on foreign websites, their number is expected to rise as more global E-Commerce players target this robust market.

E-Commerce competition becomes more intense

The competition in South Korean E-Commerce is heating up. Coupang has gained market leadership, growing by more than 60% in 2018, partially due to investments in expedited delivery services. Other prominent market players include eBay Korea’s Gmarket and Auction, SK Telecom’s 11st, TMON and WeMakePrice.

1. Management Summary

2. Overview & International Comparisons

  • B2C E-Commerce Market Overview and International Comparisons, September 2019
  • Top 10 Countries by Retail E-Commerce Sales, in USD billion, by Canada, China, India, Germany, France, Japan, Russia, South Korea, the UK, the USA, 2018 & 2019f
  • Top 10 Countries by Retail E-Commerce Sales Growth, in %, by Argentina, Canada, China, India, Indonesia, Malaysia, Mexico, Philippines, Russia, South Korea and Worldwide, 2019f vs. 2018
  • B2C E-Commerce Share of Total Retail Sales, in %, by China, Japan, South Korea, the UK and the USA, in %, 2018
  • M-Commerce Share of Total Retail E-Commerce Sales, in %, by China, India, Indonesia, South Korea, Thailand, the UK and the USA, 2018

3. Trends

  • Breakdown of Internet Traffic by Device, in %, August 2019
  • Research and Purchase Channels Used, in % of Online Shoppers, 6 Months to April 2019
  • Breakdown of Spending by Channels as Perceived by Online Shoppers, in %, 6 Months to April 2019
  • M-Commerce Sales, in KRW trillion, and Share of E-Commerce Sales, in %, 2017-2018 & H1 2019
  • M-Commerce Sales by Product Category, in KRW billion, 2017, 2018 & H1 2019
  • Cross-Border Online Shopper Penetration, in % of Online Shoppers, May 2018
  • Top 3 Product Categories Purchased Cross-Border, in % of Cross-Border Online Shoppers, May 2018
  • Top 3 Countries Purchased From in Latest Cross-Border Online Purchase, in % of Cross-Border Online Shoppers, 2018
  • Share of Online Shoppers Who Purchased a Product on Instagram, in %, April 2019

4. Sales & Shares

  • Retail E-Commerce Sales, in KRW trillion, and Year-on-Year Change, in %, 2017-2018 & H1 2019
  • Breakdown of Retail E-Commerce Sales by Online Pure-Play and Multichannel Platforms, in %, 2017-2018 & H1 2019
  • B2C E-Commerce Sales, in USD billion, and Share of Total Retail Sales, in %, 2018-2023f

5. Internet Users & Online Shoppers

  • Number of Internet Users, in millions, and Penetration, in % of Individuals, 2013 – 2018
  • Online Shopper Penetration, by Device, in % of Internet Users, 2017 & 2018
  • Average Monthly Online Spending, in KRW, 2017 & 2018
  • Breakdown of Frequency of Online Shopping, in % of Online Shoppers, 2018

6. Products

  • Top 10 Product Categories Purchased Online, in % of Online Shoppers, 2017 & 2018
  • Retail E-Commerce Sales by Product Category, in KRW billion, 2017, 2018 & H1 2019

7. Payment

  • Payment Methods Used in Online Shopping, in % of Online Shoppers, 2017 & 2018
  • Payment Methods Used in Online Shopping, in % of Online Shoppers, by PC and Mobile, 2018

8. Delivery

  • Share of Online Shoppers Who Would be Willing to Change Their Main Online Store if Another Store Offered Express Shipping Options, in %, April 2019
  • The Score of Customer Satisfaction with “Speed and Accuracy of Delivery, by Six Selected E-Commerce Platforms, May 2019

9. Players

  • Overview of B2C E-Commerce Players, September 2019
  • Revenues and Operating Profits/Losses of Selected Leading E-Commerce Players, in KRW billion, and Year-on-Year Change, in %, 2018
  • Average Monthly Online Spending, by Six Selected E-Commerce Platforms and Total Average, in % of Online Shoppers, May 2019
  • Customer Satisfaction Score of Six Selected E-Commerce Platforms, May 2019
  • Top 10 E-Commerce Websites by Unique Visitors, in millions, and Reach, in %, August 2019
  • Top 10 E-Commerce Mobile Applications by Unique Users, in millions, and Reach, in %, August 2019
  • Top Mobile Shopping Apps by Number of Monthly Active Users, in millions, October 2018

 

  • 11 Street Co Ltd
  • Lotte Group
  • SK Telecom Co. Ltd.
  • Wemakeprice Inc.
  • Coupang Corp.
  • Naver Corp.
  • Tmon Inc.
  • eBay Korea Co. Ltd.

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