SEOUL, Jan. 27 (Korea Bizwire) –Coupang’s innovative approach of integrating its services, particularly through bundled products linked with Rocket Wow benefits, has proven to be highly effective. This strategy has led to significant achievements in both the video streaming and food delivery markets, with Coupang Play securing the second position in South Korea’s streaming market, [...]
SEOUL, Jan. 16 (Korea Bizwire) — 11Street Co., a South Korean e-commerce company, said Tuesday it has filed a complaint with the anti-trust regulator over its bigger rival Coupang, Inc.’s alleged unfair practices. New York-listed Coupang has recently released the comparison between the maximum commission rates it receives from its product suppliers and competitors’ rates [...]
SEOUL, Jan. 13 (Korea Bizwire) –Coupang has re-established direct sales with LG Household & Health Care (LG H&H), nearly five years after the latter pulled its products from the Coupang platform following a dispute over pricing. This move comes with large manufacturers and distribution chains increasingly joining the anti-Coupang front, and Chinese shopping platforms like [...]
SEOUL, Jan. 11 (Korea Bizwire) – As it approaches its third year of being listed on the U.S. stock market, South Korean e-commerce giant Coupang is generating buzz with expectations of its first-ever profit. However, the company faces intensifying competition with the entry of Chinese shopping platforms like AliExpress, raising concerns about the slowing growth of [...]
SEOUL, Jan. 9 (Korea Bizwire) – Shinsegae Group, a traditional powerhouse in South Korea’s retail sector, is poised to clash with the emerging force Coupang in the luxury fashion market. SSG.com, operated by Shinsegae Group, has announced plans to introduce South Korea’s first official brand store for global luxury e-commerce platform Net-a-Porter. Net-a-Porter, established in the [...]
SEOUL, Jan. 5 (Korea Bizwire) – A conflict has erupted between Coupang, the South Korean e-commerce giant, and the Korea Economic Daily newspaper, following a series of critical articles published by the latter. Coupang has announced plans for legal action, accusing the newspaper of siding with major conglomerate-run retail companies and belittling its innovative practices. [...]
SEOUL, Jan. 3 (Korea Bizwire) – In a major boost for South Korea’s small businesses, Coupang, one of the country’s largest online retailers, has announced a significant milestone: the number of small business owners on its platform has surpassed 210,000, with their annual transaction volume exceeding 9 trillion won. This news was highlighted in Coupang’s recently [...]
SEOUL, Dec. 19 (Korea Bizwire) — New York-listed e-commerce company Coupang, Inc. said Tuesday it will acquire British online luxury fashion retailer Farfetch Holdings in a deal that brings Coupang the leading position in the $400 billion global personal luxury goods market. The deal will provide Farfetch with $500 million in capital to continue its [...]
SEOUL, Oct. 3 (Korea Bizwire) – Consumer electronics retailers, grappling with a dire challenge for survival, are seeking innovative solutions by introducing after-sales services (AS) and membership programs. In the face of escalating e-commerce competition, diversified sales channels, and a global economic downturn, consumer electronics retailers find themselves at a crossroads. In an effort to navigate [...]
SEOUL, Aug. 18 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics company, is consistently losing market share in the domestic parcel delivery service due to the active attraction of individual customers by e-commerce giant Coupang Inc. As per CJ Logistics’ half-year report, the company secured a share of 44.3 percent in the [...]