SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s e-commerce sector is undergoing a sharp consolidation, with a winner-takes-all structure emerging as Coupang and Naver entrench their dominance. Smaller players are collapsing or being forced into alliances, while global challengers from China accelerate their advance. The collapse of mid-tier platforms Tmon and Wemakeprice last year, which [...]
SEOUL, March 20 (Korea Bizwire) — The unit price of furniture sold in 2017 dropped from a year earlier, while that of consumer electronics rose amid shifting consumer trends centered on single and two-person households, industry sources said Tuesday. The unit price for furniture fell 3 percent on average, with prices for sofas and tables [...]
SEOUL, Feb. 6 (Korea Bizwire) — Recent market analysis has revealed that women in their 20s and 30s comprise nearly half the consumer base for Korean traditional alcoholic beverages. From July to December (2017), women between the ages of 20 and 39 were responsible for 49.7 percent of online traditional liquor sales (9.7 percent by [...]
SEOUL, Jan. 26 (Korea Bizwire) — Phytoncide air purifiers that supposedly recreate “forest air”, standard air purifiers, humidifiers and commercial oxygen generators are being bought up by droves of South Korean consumers, who are spending what it takes to keep their home environment free of the fine dust that periodically blankets the nation in the [...]
SEOUL, Dec. 21 (Korea Bizwire) – With the end of the year fast approaching, consumer research has shed light on the predispositions of South Koreans towards taking time off work and seasonal activities like gift-giving. From December 7 to 13, online shopping mall Gmarket conducted a survey asking 342 users about their plans for gift-giving [...]
SEOUL, Nov. 21 (Korea Bizwire) – As November 24 or “Black Friday” inches closer, local retailers are rolling out limited time discounts in what is expected to be a boom year for overseas direct purchases. Overseas direct purchasing companies enable customers to procure goods at local prices and have their products shipped directly to their [...]
SEOUL, Sept. 21 (Korea Bizwire) – Distrust generated by scandals over pesticide-riddled eggs, the supposed presence of harmful chemical substances in women’s sanitary pads and hazardous humidifier disinfectants has caused more Koreans to look abroad for solutions to everyday needs. The preference for goods that come with the “Western Advanced Nation” tag that oft emerges [...]
SEOUL, March 6 (Korea Bizwire) – Sales of South Korea’s online shopping malls rose dramatically in recent months helped by the growing number of Chinese customers, data showed Monday, amid China retaliating against South Korea over Seoul’s plans to deploy an advanced U.S. missile defense system on its soil. China has been retaliating against Seoul’s [...]
SEOUL, Aug. 8 (Korea Bizwire) – The number of males purchasing indoor toys in 2016 rose more than 40 percent from a year ago, industry data showed Monday, suggesting that more fathers are choosing to play with their children at home. According to the country’s largest open market website Gmarket, male customers buying indoor toys, [...]
SEOUL, July 27 (Korea Bizwire) – Shake Shack, a New York-based casual restaurant chain, finally launched the first of its long-anticipated Korean franchises last week. Perhaps unsurprisingly, the launch was followed by soaring popularity and public interest in premium homemade burgers. According to Gmarket, an e-commerce platform, sales of ‘hamburger makers’ skyrocketed by over 1,400 [...]