SEOUL, April 16 (Korea Bizwire) – South Korean online shopping site operators continued to report losses in 2017 amid fierce market competition, regulatory data showed Monday. Coupang Inc. suffered a combined net loss of 673.5 billion won (US$628.5 million) last year, up 20 percent from 561.8 billion won reported a year earlier, the company said in a regulatory filing. Its sales jumped 40 percent on-year [...]
SEOUL, Mat. 13 (Korea Bizwire) — The amount of online shopping transactions rose sharply in South Korea in January this year from a year earlier, with purchases made using mobile gadgets rising faster than transactions carried out on personal computers, government data showed Tuesday. Online transactions, excluding the services industry, soared 20.9 percent on-year to [...]
SEOUL, Feb. 9 (Korea Bizwire) – South Korean department stores saw their sales fall last year, as the use of online platforms has fully caught on with local consumers due to its fast delivery and convenient payment options, government data showed Friday. Combined sales at local department stores reached 29.24 trillion won (US$26.7 billion) last [...]
SEJONG, Jan. 2 (Korea Bizwire) – Purchases made through Internet and mobile devices in South Korea continued to rise in November as use of smartphones have fully caught on with local consumers, government data showed Tuesday. Transactions made with smartphones and tablets reached 7.55 trillion won (US$7.06 billion) in the one-month period, up a solid [...]
SEOUL, Dec. 1 (Korea Bizwire) — Female shoppers in their 30′s have been spending the most at a local online shopping mall this fall, industry data showed Friday. South Korea’s major online shopping operator and ticketing company Interpark Corp. said 21 percent of its customers between October and the second week of November were women [...]
SEOUL, Oct. 13 (Korea Bizwire) — A new report has revealed South Koreans are among the most enthusiastic users of online shopping apps, with the average person devoting 90 minutes every month to their use. The report published by mobile application analytics service App Annie on Thursday showed South Koreans spend 90 minutes on mobile shopping [...]
SEOUL, Aug. 4 (Korea Bizwire) — Market research firm Consumer Insight announced on August 3 that it had conducted a study on South Korean consumer shopping habits and their changes in partnership with the Distribution Research Center at Hanyang University. Whether it was because of the hot summer weather or other factors, the findings showed [...]
SEOUL, Jul. 21 (Korea Bizwire) — Online shopping is experiencing a growth surge, accounting for close to 20 percent of all retail sales in the first quarter of this year, data showed Friday. Retail transactions in the three months to March totaled 96.56 trillion won (US$85.83 billion), a growth of 4.7 percent from the same [...]
SEOUL, Jul. 10 (Korea Bizwire) — With the popularity of convenience stores and online shopping among South Koreans growing rapidly, the number of shoppers who rely heavily on both online shopping sites and convenience stores is on the rise. According to a new report released by Shinhan Card on recent retail trends, the number of consumers [...]
SEOUL, Jun. 19 (Korea Bizwire) — Southeast Asia’s online market is expected to expand sharply backed by the region’s huge population, which serves as a good business opportunity for South Korean companies, a report showed Sunday. In the report, the Korea Trade-Investment Promotion Agency (KOTRA) said the region’s online shopping market has been growing at [...]