SEOUL, June 27 (Korea Bizwire) – Brexit, the U.K’s decision to leave the European Union (EU), is quickly driving down the value of the British pound, and Korean shoppers are rushing to Britain’s online markets to take advantage of favorable exchange rates. Customers were quick to react to news of the ‘leave’ campaign’s victory, and started [...]
SEOUL, June 27 (Korea Bizwire) – Chinese consumers, particularly women in their twenties and thirties who make direct online purchases, tend to prefer authentic products manufactured abroad. The Korea Trade-Investment Promotion Agency (KOTRA) released a report entitled “China’s International E-Commerce Trends and Our Market Expansion Strategy” on Sunday, June 26. China’s e-commerce market is growing rapidly, [...]
SEOUL, June 22 (Korea Bizwire) – While the social commerce market has been growing rapidly in Korea, the Korean Fair Trade Commission (FTC) has begun investigating unfair trade practices at Korean social commerce businesses. According to an industry expert, Coupang and Ticketmonster are being accused of violating the Large Scale Distribution Law, which triggered the FTC’s [...]
SEOUL, June 15 (Korea Bizwire) – Fast Retailing Co., a public Japanese retail holding company that operates UNIQLO, plans to establish a “next-day delivery service” where products ordered through its online store are delivered the next day. Industry experts say that the Japanese company is taking countermeasures against Amazon, which provides same-day or next-day delivery services, [...]
SEOUL, May 26 (Korea Bizwire) – A recent survey conducted in 10 Asian countries including South Korea, China, and Japan showed that half of the region’s young adults in their 20s shopped online more than once per week. In China and South Korea, the ratio rose to two-thirds of the young adult population. The survey was [...]
SEOUL, May 23 (Korea Bizwire) – Sales are of self-defense products are soaring following the tragic random killing of a 21-year-old female student, which took place in Gangnam on May 17. More than 80 percent of those making the purchases turned out to be women. According to CJ O Shopping, sales of self-defense goods increased [...]
SEOUL, May 19 (Korea Bizwire) – Korean men are increasingly spending time on grooming and fashion. There are even men who purchase hair perm products to get the job done themselves. According to Auction, an online market, the sales of straightening hair perm products from January 1 to May 16 increased by 195 percent compared to [...]
SEOUL, May 16 (Korea Bizwire) – Amid the recent controversy surrounding humidifier sterilizers, sales of environmentally-friendly products are soaring. Anxious consumers skeptical of products containing chemicals are looking for potentially healthier alternatives. According to Ticket Monster, an e-commerce website, sales of environmentally-friendly detergents increased by 30 percent in the period from April 25 to May [...]
SEOUL, May 12 (Korea Bizwire) – Coupang, a Korean e-commerce website, is expanding its platform to an open market, offering direct sales and purchases between consumers and suppliers. Coupang is a social commerce platform that previously focused on curated commerce in the form of special ‘deals’. It’s an attempt to make up for its weakness in product [...]
SEOUL, May 6 (Korea Bizwire) – According to the report ‘B2C (Between Corporation and Consumer) Index 2016’ published on May 5 by the United Nations Conference on Trade and Development (UNCTAD), Luxembourg ranked first in the world after scoring a total of 89.7 points calculated according to the internet usage rate of its population, credit [...]