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Archive by category E Commerce

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 [...]

E-Commerce Industry Shackled in Ballooning Losses as Competition Stiffens

E-Commerce Industry Shackled in Ballooning Losses as Competition Stiffens

SEOUL, Feb. 14 (Korea Bizwire) – Despite the ballooning volume of e-commerce, deficits for online shopping malls are also bloating with even a rough estimate pointing to over 1 trillion won (US$876.88 million) last year, industry officials said Tuesday.  Industry records showed the country’s three leading social commerce sites — Coupang, Ticket Monster and WeMakePrice [...]

Online Shopping in S. Korea Hits Record High in Dec.

Online Shopping in S. Korea Hits Record High in Dec.

SEJONG, Feb. 3 (Korea Bizwire) – Online shopping in South Korea reached a fresh record high in December on the back of a steady upbeat trend of buying goods through computers and mobile phones, government data showed Friday.  Total online transactions reached a record 6.2 trillion won (US$5.4 billion) in December, up 15.4 percent from [...]

S. Korea’s E-Commerce Exports Sharply Growing

S. Korea’s E-Commerce Exports Sharply Growing

SEOUL, Dec. 23 (Korea Bizwire) – South Korea’s exports through e-commerce platforms have increased sharply this year, apparently helped by the government’s policy support, data showed Friday.  Outbound shipments via the Internet and other e-commerce sites totaled US$985 million in the first 11 months, according to the Korea Customs Service (KCS).  The volume is projected [...]

Social Commerce Companies Throw in the Towel, Tone Down Free Delivery Competition

Social Commerce Companies Throw in the Towel, Tone Down Free Delivery Competition

SEOUL, Oct. 12 (Korea Bizwire) – Social commerce companies are putting an end to competing each other with free delivery services as operating losses continue to soar. Coupang doubled the minimum purchase required for free delivery (Rocket Delivery) from 9,800 ($8.73) to 19,800 starting Tuesday.  Rocket Delivery is the company’s ambitious service that offers delivery within [...]