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Archive by category E Commerce

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 [...]

Electronic Payments Hit Record High in 2016

Electronic Payments Hit Record High in 2016

SEOUL, Mar. 23 (Korea Bizwire) — The amount of payments made electronically hit a record high in 2016, central bank data showed Wednesday, underscoring the growing trend of South Koreans using electronic means for financial transactions. The daily average amount of electronic financial transactions came to 343.5 billion won (US$306 million) in 2016, up 36.1 [...]

SK Group Leads Mobile Customer Loyalty App Market in South Korea

SK Group Leads Mobile Customer Loyalty App Market in South Korea

SEOUL, March 22 (Korea Bizwire) – SK-affiliated ventures are dominating the loyalty mobile application market in South Korea, according to a recent survey released yesterday. Among Android smartphone users – who account for 80 percent of all smartphone owners in the country – SK Planet’s Syrup Wallet proved most popular with nearly 4.5 million monthly [...]

Mobile Devices More Popular Than Desktop PCs for Korean Online Shoppers

Mobile Devices More Popular Than Desktop PCs for Korean Online Shoppers

SEOUL, Mar. 7 (Korea Bizwire) – Over half of South Korean consumers now shop online through a mobile device, rather than a desktop computer, according to Statistics Korea. In January of this year, online shopping through mobile devices accounted for more than 58 percent of all online sales in South Korea, the highest percentage since records [...]