SEOUL, Aug. 27 (Korea Bizwire) – Coupang (www.coupang.com), the online shopping site, will start a service next month called ‘Market Place’, which connects sellers with consumers.
From a consumer’s point of view, nothing much will change. Up until now, Coupang provided a ‘retail service’ or ‘curation service’, in which they select and buy the items they plan to sell first.
However, the ‘Market Place’ service provides a virtual market space online, connecting many sellers and customers. It is similar to the marketplace systems on other shopping portals such as G Market, Auction and 11th street.
On the other hand, marketplaces also called ‘open markets’ are adopting the ‘selling after selecting and purchasing’ system of social commerce businesses such as Coupang and Tmon. Concepts such as ‘online select shops’ or ‘recommended product shops’ are brought in and applied.
After Coupang adopts the new marketplace system, the boundaries among e-commerce businesses are expected to break down rapidly. Coupang finished registering for electronic financial services in order to provide the new service.
Coupang officials say that the additional service could benefit both sellers and consumers. “With this service, consumers will have a wider range of choice. Also, it will be easier for small businesses to enter Coupang.”
By Francine Jung (firstname.lastname@example.org)