Showing posts with label Korea GMV Statistics Retail. Show all posts
Showing posts with label Korea GMV Statistics Retail. Show all posts

Monday, April 4, 2016

The South Korean Online Retail Market is Expected to Grow at a CAGR of 17% in the Future – Ken Research

Marketplace model is the most commonly implemented business model in South Korea online retail market. An online marketplace model involves facilitating transactions between buyers and third party sellers who can interact with each other directly. The marketplace builder becomes the operator and provided customers with a platform to place their transactions. The marketplace operator aggregates the best offers for the customers without facing any hassles of handling logistics and inventories. . A typical e-commerce marketplace aggregates product information from multiple sellers, which allows users to compare different products and make purchases. Buyers visit the online marketplace, browse and select an item from the product range and the marketplace places that order through the third party seller, who in turn handles fulfillment of that purchase.


The South Korean online retail market can be generally segmented into the following product types naming- clothing and fashion products, books and stationary, electronics, food and grocery, sports music and entertainment, beauty products and the others which would consist of the infants and children products, household goods, motor parts and accessories and garden products. The leader in market has been the electronics product category. Moreover, people can purchase the products easily from the local markets at a cheaper price owing to a presence of a large number of manufacturers.
The South Korea online clothing and fashion products market has emerged as one of the fastest growing market in the previous few years. This industry has been majorly driven by factors such as high speed internet, smartphone penetration in the country and a high proportion of middle aged people in the country who prefer to keep up with the ongoing trends and fashion. . The online clothing and fashion products market is poised to grow at a CAGR of 25.8% in the coming five years backed by higher demand of the clothing and fashion products by the middle aged population of South Korea who are generally skeptical to make large transactions online.
Online books and stationery market is a vital component of South Korea online retail market. The capacity for online books and stationery market in South Korea has showcased a glorifying growth rate, which was determined by advent of e-books which can be read on PCs, mobile phones, laptops and tablets. The South Korea online books and stationery market has showcased a compound annual growth rate of 8.2% in the period, 2009-2014. With an increase in schooling population, the competition is going to intensify and new players have looked forward to establish themselves in the market. Kyobo for an example was the largest offline bookstore chain in the country; however with increasing popularity of e-commerce, they have initiated their online book store as well.
The mergers of organizations have always been successful in reducing the competition but at the same time they also increase the strength of the companies involved in the process. The mergers and acquisitions in the South Korea online retail market have opened up plenty of opportunities for the companies in terms of higher penetration, efficient capital allocation, greater customer base and increased reach of the companies indulged with a global presence. Apart from the ongoing investments Coupang is expected to be the largest online retailer of South Korea with its plan of expanding its product offering with help of the ongoing investments.
For further detail follow the below mentioned link:
https://www.kenresearch.com/technology-and-telecom/it-and-ites/south-korea-online-retail-market-report/695-105.html
Related Reports:
Asia Online Jewellery Market Outlook to 2019 - Driven by Lucrative Discounts and Rising Online Buyers
India Online Grocery Market Outlook to 2019 - High Growth Prospects due to Increasing Internet Coverage and Smart Cities Emergence
The Philippines E-Commerce Market Outlook to 2018 - Driven by Rising Internet Proliferation and Effective Online Payment System
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Tuesday, October 13, 2015

South Korea Online Retail Market Outlook to 2019 - Driven by Rising Smartphone Penetration and Advent of Social Commerce

·         South Korea online retail market is expected to reach USD 66 billion by 2019
·         Future growth of South Korea online retail market is expected to be led by improvement in technology regarding online payments, improved logistics and increased internet penetration
·         The market leader, eBay is expected to maintain focus on Asian markets and providing better deals and services to its customers to compete with other players in the industry, however it is going to face strong challenge from Coupang which is expected to be the largest player in the segment till 2016

Ken Research announced its latest publication on “South Korea Online Retail Market Outlook to 2019” which provides a comprehensive analysis of the retail market in South Korea. The report covers various aspects such as market size of South Korea online retail market, segmentation on the basis of product type and modes of distribution. The report is useful for government, industry consultants, online retailers, offline retailers, food and grocery stores, online electronic chains, apparel and footwear manufacturers, other stakeholders and new players venturing in the market.
The demand in online retail market of South Korea has inclined at a substantial growth rate even after the economic slowdown in 2008. This demand has enhanced due to the increased usage of high speed internet, rising smart phone penetration and high proportion of old aged people in the country. These factors are expected to lead the growth in online retail backed by the improvements in the payment gateways, better packaging and delivering options. During the period 2009-2014, online retail market in South Korea has expanded at a substantial CAGR of 17.7%, which has marked the gross merchandise value at USD ~ billion during 2014.
According to the research report, the South Korea online retail market will grow at a considerable CAGR rate thus exceeding USD 66.2 billion by 2019 due to the rising income level and growing influence of social media with increasing demand for clothing, fashion products, electronics and beauty products by a large number of middle aged people in the country who wish to upkeep with the trends and stay up-to-date in line with developments in the country.
“While, rising disposable income, hike in middle aged population and increasing number of internet and smartphone users in the country will result in increased revenue from online retail in South Korea, Cyber crimes and frauds, higher competition and customers’ reluctance to pay high amounts online are few of the major challenges which will affect the growth of this industry in the future”, according to the Research Analyst, Ken Research.

Key Topics Covered in the Report:
South Korea Online Retail Market
-          Market Size by Gross Merchandise Value, Number of Orders by Product Type, Average Order Size by Product Type
-          Market Segmentation by
o   Product Type
o   Mode of Distribution
-          Trends and Development
-          SWOT
-          Competition and Market Share
-          Important Mergers and Acquisitions
-          Important Investments
-          Growth Drivers
-          Government Rules and Regulations
-          Pre-Requisites to Enter the Market
-          Analyst Recommendation
-          Cause and Effect Relationship
-          Future Outlook
-          Macro Economic Parameters

Key Products Mentioned in the Report
Online Clothing, Footwear and Fashion Products
Online Books and Stationery
Online Electronics
Online Beauty Products
Online Sports, Music and Entertainment Products
Online Food and Grocery
Online Baby Products, Household Goods, Motor Parts & Accessories and Garden Products
Companies Covered in the Report
eBay, GMarket, eBay Auction, 11 Street, Interpark, Lotte, Emart, GS Home Shopping, CJ O Shopping, Hyundai Home, Shopping, Lotte Home Shopping, Home and Shopping, NS Home Shopping, Fashion Plus, Dahong, Yesstyle.Com, Bershka.Com, Musinsa.Com, Fashionstart.Net, Elf Fashion, Hiphoper.Com, Etude House, Pore Lab, Thefaceshop, Missha, Roseroseshop, Moonshot-Cosmetics.Com, Naturerepublic.Com, Theskinfood.Com, Sokoglam.Com, Kyobo, Yes24, Aladin, Ypbooks.Co.Kr, Bandinlunis.Com, Libro.Co.Kr, Heyeonni.Com, Compuzone, Himart, Icoda, LG Electronics, B-Store.Co.Kr, Lots Etland, Hello Nature, KGC shop, Highstreet, Expatmart.Co.Kr, Fatbag.Co.Kr, Ezshopkorea.Com
Related Reports:

Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249