(image: Korea Bizwire)
SEOUL, Feb. 19 (Korea Bizwire) — While online shopping has become a key retail channel, there are wide variations in channel preferences by different age groups.
According to a survey by South Korean retail industry analysis service WiseRetail last year on the value of payments for online services by generation, people in their 20s paid about 4.6 trillion won (US$3.86 billion) on Naver last year.
This was followed by Coupang at 2.3 trillion won, Baedal Minjok at 2.3 trillion won and eBay Korea at 1.8 trillion won.
Similarly, those in their 30s chose Naver as their preferred channel.
On the other hand, eBay Korea, which operates Gmarket and Auction, were popular among those in their 40s, showing 5 trillion won in sales.
Gmarket and Auction were followed by Naver at 4.3 trillion won, Coupang at 3.9 trillion won and 11th Street at 2.4 trillion won.
Meanwhile, for those in their 50s and older, GS Home Shopping and GS Shop ranked in the top four, while eBay Korea ranked first at 5.6 trillion won.
In other words, older Koreans tend to prefer well-established services that they have a higher degree of familiarity with.
The survey estimated spending based on the Bank of Korea and financial institutions’ approval records, including credit cards, check cards, account transfers and mobile phone payments, as well as their use of payment methods.
Meanwhile, a separate Nielsen Korea survey showed that Generation Z – those in their teens and 20s – were overwhelmingly more likely to use “specialized shopping malls” such as Zigzag and Musinsa than other age groups.
D. M. Park (dmpark@koreabizwire.com)
