Number of Retailers on Online Market Platforms More than Doubles in 5 Years | Be Korea-savvy

Number of Retailers on Online Market Platforms More than Doubles in 5 Years

(Image: Korea Bizwire)

(Image: Korea Bizwire)

SEOUL, May 9 (Korea Bizwire)The number of retailers selling products through digital marketplaces more than doubled over the past five years, data showed Tuesday, reflecting the growing popularity of online shopping.

Some 543,000 businesses sold products via shopping platforms, such as Coupang and Naver in 2022, rising sharply from just 218,616 tallied in 2018, according to the data compiled by the National Tax Service.

The number of rental cottages and guesthouses also shot up from 11,135 to 23,957 over the period, apparently as more consumers preferred accommodation options with more privacy amid the COVID-19 pandemic.

The data also showed that the number of cafes in the country came to 93,069 in 2022, up 80 percent from five years earlier.

Amid the growing popularity of owning pets in the country, the number of shops specializing in related products jumped 46.3 percent to 11,247 over the period, and that of veterinary clinics rose 12.2 percent to 4,495.

Reflecting the pandemic and economic uncertainties, the number of small bars decreased 33.8 percent over the period to 10,441 in 2022. The number of eateries specializing in beer slipped 25.7 percent to 25,930 as well.

The number of cafeterias fell 22.9 percent to 17,989, and that of wedding venues dropped 21.1 percent to 750.

The agency added that local shops maintained their businesses for eight years and nine months on average.

Online retailers posted the shortest lifespan of two years and seven months, followed by cafes with three years and a month.

Tobacco retailers boasted the longest period of 17 years and 11 months, followed by barber shops with 16 years, along with watch and jewelry stores with 15 years and 11 months, the data showed.


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