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Customer Traffic Falling Fast at Online Shopping Malls

Customer Traffic Falling Fast at Online Shopping Malls

SEOUL, May 25 (Korea Bizwire) – Online shopping malls are fast losing customer traffic, industry data showed Thursday, compounding their massive business losses last year.  According to the data, the number of unique visitors to the six top online shopping sites totaled 84.86 million last month. This is 9.2 percent less than the same month [...]

Delivery Services to Spill over into Online Grocery Shopping

Delivery Services to Spill over into Online Grocery Shopping

SEOUL, May 8 (Korea Bizwire) – Grocery shopping via online and mobile channels in South Korea rose sharply in the first quarter from a year earlier, backed by robust demand for delivery services of fresh food amid a rise in the number of one-person households, data showed Friday. The amount of transactions made for fresh produce through online shopping malls reached 2.18 trillion won (US$1.92 billion), up 35.6 percent from the first three months of [...]

S. Korea’s Online Sales Hit Record High in March

S. Korea’s Online Sales Hit Record High in March

SEJONG, May 4 (Korea Bizwire) – South Korea’s online sales continued their upbeat mode to reach a fresh record high in March amid recovering consumer sentiment, government data showed Thursday.  Total online transactions reached 6.33 trillion won (US$5.58 billion) in March, up 21.3 percent from 5.22 trillion won tallied a year earlier, according to the [...]

Internet New Battleground for Retailers as Industry Shifts

Internet New Battleground for Retailers as Industry Shifts

SEOUL, April 28 (Korea Bizwire) – The decline of the retail industry – that is, the brick-and-mortar portion of the market – is no secret.  In the U.S., major retailers have shuttered hundreds of stores over the past decade, including Sears and Kmart, which saw their numbers drop from some 3,800 to 1,430 stores over [...]

Amid Shrinking Publishing Industry, E-book Sales Are Rising

Amid Shrinking Publishing Industry, E-book Sales Are Rising

SEOUL, April 17 (Korea Bizwire) – Korea’s e-book market has been growing while the wider book industry is shrinking, a recent report from a government agency showed Monday. The report by the Publication Industry Agency of Korea about the general condition of the country’s publishing industry showed the industry’s total sales amounted to 7.58 trillion [...]

Online Shopping Sites Suffer Consecutive Losses in 2016

Online Shopping Sites Suffer Consecutive Losses in 2016

SEOUL, April 14 (Korea Bizwire) – South Korea’s online shopping site operators continued to report operating losses last year from a year earlier, as more market competition hurt their profitability, regulatory data showed Friday. Coupang Inc. suffered a combined operating loss of 560 billion won (US$490.8 million) in the January-December period of 2016 compared with [...]

Smart AI Shopping Assistants Reshaping E-Commerce

Smart AI Shopping Assistants Reshaping E-Commerce

SEOUL, April 13 (Korea Bizwire) – As the fourth industrial revolution reshapes the landscape of online shopping of our time, advanced technology such as chatbots that assist shoppers are proving popular among consumers despite fears jobs will be taken away by robots and automation. Inside reports from the distribution industry yesterday revealed companies that have [...]

SK’s AI service NUGU Now Allows Users to Shop Through Using Voice Commands

SK’s AI service NUGU Now Allows Users to Shop Through Using Voice Commands

SEOUL, March 31 (Korea Bizwire) – A new update to SK Telecom’s artificial intelligence voice assistant NUGU will see users shop online through voice commands without the hassle of turning on their mobile or laptop. SK Telecom has teamed up with its e-commerce platform 11st, one of the largest online shopping malls in South Korea, to [...]

Fourth Industrial Revolution is Reshaping Retail Industry

Fourth Industrial Revolution is Reshaping Retail Industry

SEOUL, March 30 (Korea Bizwire) – A wave of artificial intelligence (AI) is sweeping the retail industry in South Korea, as major department stores and online shopping malls rush to adopt the latest technology to attract consumers. Shinsegae is the first in the retail industry to deploy a marketing strategy involving AI technology. Starting today, Shinsegae [...]