Korean consumers can benefit from direct overseas purchasing to buy German-made microwave ovens and coffee machines at discounts of around 30 percent compared to prices of official imports. (image: FaceMePLS/flickr)
SEOUL, March 25 (Korea Bizwire) — Due to the weakening euro and yen, Korean shoppers frequently using foreign online retailers are increasingly turning to German and Japanese online stores and away from previously popular American and Chinese options.
According to overseas direct purchase agency Malltail, the number of purchases from German online retailers through the agency increased 135 percent from the first of January to March 15 compared to the same period last year. The share of purchases from German retailers increased to 6.2 percent from 3.0 percent.
The number of purchases from Japanese retailers also increased 76 percent, and the share increased to 7.1 percent from 4.6 percent.
However, American online retailers were not as popular as they have been in the past, due to the strengthening US dollar. The share of purchases from American retailers was 88.2 percent in 2014, but it declined to 83.3 percent from the first of January to March 15. The share of purchases from Chinese retailers dropped to 3 percent from 4.2 percent.
According to Malltail, Korean consumers can benefit from direct overseas purchasing to buy German-made microwave ovens and coffee machines at discounts of around 30 percent compared to prices of official imports.
By J. W. Choi (summerchoi@koreabizwire.com)
