SEOUL, Aug. 8 (Korea Bizwire) – Ticket Monster, South Korea’s major e-commerce site, said Monday it started sales of British luxury car brand Jaguar, marking the first time for new cars to be sold on a local online shopping mall. Ticket Monster put on sales of 20 Jaguar XE Portfolios and R-Sports on Monday morning, [...]
SEJONG, Aug. 3 (Korea Bizwire) – South Koreans’ direct purchases from foreign countries edged up in the second quarter of this year, with online purchases of Korean products by overseas shoppers nearly doubling, government data showed Wednesday. Koreans’ direct purchases of foreign goods via overseas online shopping malls reached 411.8 billion won (US$369.3 million) during [...]
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, [...]
SEJONG, June 16 (Korea Bizwire) – Sales in the online shopping business in South Korea have expanded more than 16-fold over the past 15 years on the back of the rapid development of e-commerce transactions, government data showed Thursday. A total of 53.9 trillion won (US$46.1 billion) worth of purchases were made online last year, [...]
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 14 (Korea Bizwire) – Just like the rest of the world, Korea is suffering from a prolonged economic downturn. Like societies elsewhere, Koreans and their businesses are adapting and adjusting to what is starting to be accepted as a new economic reality. To begin with, there has been a clear shift in [...]
PALO ALTO, CA, May 11 (Korea Bizwire) – For online shops, it became insufficient to only sell on their website. More emphasis should now be placed on targeting multiple channels and sales platforms such as Google Product Listing Ads (PLA) or Facebook. By distributing products on these channels, online retailers will experience higher amount of [...]
SEJONG, May 11 (Korea Bizwire) – The Korea Customs Service (KCS) is reinforcing its crackdown on directly imported goods, with unsanitary food as its main target. The practice of purchasing foreign products (also known as overseas direct purchasing) through e-commerce websites such as Amazon has become commonplace among Koreans over the past few years. The KCS [...]
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 [...]
SEJONG, March 31 (Korea Bizwire) – South Korea’s online sales to foreign customers nearly tripled last year from a year earlier on the back of rising demand for domestically produced cosmetics and clothing by Chinese consumers, a report showed Thursday. South Korean retailers sold an estimated US$130 million worth of goods to overseas customers through [...]