SEOUL, Oct. 27 (Korea Bizwire) – As the COVID-19 pandemic has prolonged the prevalence of non-face-to-face shopping, apparel and cosmetics companies are intensifying their online marketing strategies, specifically targeting Generation MZ (those born between the early 1980s and early 2000s). This younger demographic is increasingly recognizing the advantages of online shopping, which has led to a [...]
SEOUL, Oct. 3 (Korea Bizwire) –The market for online e-coupon services, which provide gift certificates in the form of barcodes, is experiencing rapid growth. This surge can be attributed to the sustained popularity of non-face-to-face gifting practices that emerged during and after the COVID-19 pandemic. The online shopping industry anticipates that the transaction value of [...]
SEOUL, Aug. 9 (Korea Bizwire) — Coupang Inc. said Wednesday it swung to a net profit in the second quarter from a year earlier on improved profitability of its flagship product commerce business. South Korea’s top e-commerce retailer shifted to a net profit of US$145.2 million in the April-June period from a net loss of [...]
SEOUL, Aug. 7 (Korea Bizwire) — Kurly Corp. and Coupang Inc. have entered South Korea’s online beauty market, intensifying the existing fierce competition. Kurly, the operator behind the e-grocery platform Market Kurly, introduced an exclusive beauty platform named Beauty Kurly in November of the previous year. Since then, it has been expanding its market share [...]
SEOUL, July 6 (Korea Bizwire) — With the opening of its first official shopping channel in South Korea, YouTube has paved the way for direct-to-consumer (D2C) shopping malls to launch live shopping programs. Aqo Studio initiated a live shopping program on YouTube’s shopping channel on July 1, accumulating over 350,000 views. Gaze Shop also joined [...]
SEOUL, July 3 (Korea Bizwire) – South Korea’s top e-commerce retailer Coupang Inc. said Monday it has launched a new service allowing customers to buy luxury beauty brands’ products at its platform. At Rocket Luxury, customers will be able to purchase products of 16 high-end beauty brands from home and abroad, including Estee Lauder, MAC, [...]
SEOUL, June 21 (Korea Bizwire) — In South Korea’s e-commerce market, a two-way race is currently underway between Coupang Inc. and Naver Corp. According to a survey conducted by local pollster Open Survey, which involved 2,500 male and female consumers aged between 20 and 59, Coupang was ranked as the most frequently used online shopping [...]
SEOUL, May 16 (Korea Bizwire) — South Korean cosmetics and household goods maker LG Household & Health Care Ltd. and food manufacturer CJ Cheiljedang Corp. have formed new partnerships with other online shopping malls, following their decision to withdraw their products from the e-commerce giant Coupang Inc.’s platform due to pricing conflicts. Gmarket said Monday [...]
SEOUL, May 10 (Korea Bizwire) — Coupang Inc. said Wednesday it racked up a profit in the first quarter and posted a record-high quarterly net revenue and gross profit, thanks to the company’s operational improvement and increased sales. The net profit of South Korea’s top e-commerce retailer reached US$90.9 million in the first quarter, compared [...]
SEOUL, April 24 (Korea Bizwire) — The e-commerce industry in South Korea is actively introducing measures to prevent the sale of fake products to improve consumer trust. Lotte On, an e-commerce platform of retail giant Lotte Group, has been using an artificial intelligence (AI) 24-hour monitoring system since January to detect any suspected counterfeit products. [...]