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 12 (Korea Bizwire) – Coupang, a Korean e-commerce website, is expanding its platform to an open market, offering direct sales and purchases between consumers and suppliers. Coupang is a social commerce platform that previously focused on curated commerce in the form of special ‘deals’. It’s an attempt to make up for its weakness in product [...]
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 [...]
SEOUL, April 24 (Korea Bizwire) – Mobile GS Shop, a Korean retail giant, announced on April 20 that computer software used to automatically recommend products has recently won an online competition against one of the retailer’s merchandisers. Of the more than 30,000 customers participating in the event, two-thirds of them favored the software. The promotion [...]
SEOUL, April 20 (Korea Bizwire) – With many Koreans enjoying online shopping overseas, the number of consumers issued customs clearance codes for overseas direct purchases has tripled in the past year. To purchase goods directly from overseas online retailers, some 3.38 million Koreans had been issued personal customs clearance codes as of February 2016. According [...]
SEOUL, March 14 (Korea Bizwire) – Online shopping operators are turning to personalized services as they try to differentiate themselves in the teeming industry, taking care of small errands like shoe polishing to more extensive services that include interior remodeling, industry watchers said Monday. Further blurring the online-offline boundary, these operators are taking broader steps [...]
SEOUL, Nov.30 (Korea Bizwire) – Americans were not the only shoppers to embrace Black Friday sales, as Koreans flocked to online stores to take advantage of huge discounts. According to Mall Tail, the largest domestic overseas online shopping agent, the number of consumers who visited their site doubled on November 28 (which was November 27 [...]
SEOUL, Nov.16 (Korea Bizwire) – As the market for direct purchase products from overseas continues to show dramatic annual growth, it is estimated that by 2020 the annual trade volume will exceed $20 billion. Researcher Kim Gwang-seok from the Hyundai Research Institute (HRI) emphasized the need to establish policies that respond to the changing market, [...]
SEOUL, Oct. 5 (Korea Bizwire) — Shopping at large discount stores has become a less preferred chore for Lee Na-young after the troubling experiences of pulling a cart through crowds and standing in long checkout lines with her two babies crying. When Lee ran out of diapers and wet issues during a busy week, she [...]