SEOUL, Oct. 24 (Korea Bizwire) – Competition between domestic and overseas online retail companies is unfair, and industry support systems need to be overhauled to preempt the global e-commerce market, according to a recent study. According to a report commissioned by the Korea Economic Research Institute to Prof. Jung Yeon-sung of Dankook University, obstacles to the development [...]
SEOUL, Sept. 16 (Korea Bizwire) – Online transactions of cosmetics are expanding as the entire distribution industry is increasingly leaning towards online platforms in South Korea. Statistics Korea and the cosmetics industry reported that online transactions of cosmetics products reached 6.6 trillion won (US$5.6 billion) between January and July, up 20 percent since last year. Cosmetics sales [...]
SEOUL, Aug. 28 (Korea Bizwire) — Kim Ji-yoo is a self-claimed shopaholic. The 31-year-old paralegal turns to shopping to kill time and relieve work stress. However, there’s one thing she avoids: online shopping. Despite the perks of online shopping — the low price, the variety of choices and the convenience of having goods shipped to [...]
SEOUL, Jun. 19 (Korea Bizwire) — Online shopping users value how fast a product is delivered when they choose a shopping mall, according to a recent survey. Market analysis agency DMC Media analyzed the Internet purchasing behavior of 1,000 men and women in their 20s to 50s who had Internet shopping experience for six months [...]
SEOUL, May 27 (Korea Bizwire) — While South Korean retail companies are competing over speed in the delivery market, the crowdfunding market, which typically requires at least a month before products are delivered, is rising as the new form of consumer activity in the country. Crowdfunding is based on pre-orders made by customers. If enough [...]
SEOUL, Dec. 19 (Korea Bizwire) — An increasing number of male customers have been shopping online ever since the 52-hour workweek was implemented earlier this year. GS Fresh, a South Korean online shopping mall operated by GS Retail Co., said that male customers who signed up for new accounts in the second half of this [...]
SEOUL, Dec. 14 (Korea Bizwire) — The number of online shoppers went up visibly after 6 p.m. this year, data from a leading retailer showed Friday, a phenomenon industry watchers tied to shorter work hours. Hourly sales figures from Shinsegae Department Store from January to November this year showed a 30.3 percent increase from 6-6:59 [...]
SEOUL, Dec. 11 (Korea Bizwire) — A growing number of South Koreans shopping at overseas online malls are picking Chinese sites, a tally from a credit card firm indicated Tuesday. Purchase records from Nov. 1-26, compiled by the big data center at Shinhan Card, showed a 9.8 percent increase from last year in the monetary [...]
SEOUL, Oct. 23 (Korea Bizwire) – Online shopping malls are planning big sales for November, a month that used to be a slow season but is turning out record sales from discounts, industry officials said Tuesday. EBay Korea racked up sales in November last year through its “Big Smile Day” discounts. Although it did not [...]
SEOUL, Oct. 1 (Korea Bizwire) — With the market for e-commerce continuing to grow rapidly, delivery services offered by online shopping platforms are also evolving quickly. Delivery, the last step of the e-commerce experience, has come to greatly affect customer satisfaction levels, which is why many online platforms are adopting the promise of same-day delivery. [...]