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Consumer Attitudes & Online Retail Dynamics in South Korea
iCD Research, Oct 2011, Pages: 71
Synopsis
Consumer Attitudes & Online Retail Dynamics in South Korea' provides in-depth analysis of the latest trends in online consumer shopping, covering drivers of online shopping, consumer insights, market dynamics (covering 25 product categories) and reviews of latest best practice in online retail site design.
Based on the latest data, the report not only provides details of the size and growth of this increasingly important channel, it also provides essential contexts on the penetration of online sales by product groups, how growth has developed over time and the key drivers of this market in the future.
Summary
This report is the result of ICD’s extensive market research covering the online retail industry in South Korea. “Consumer Attitudes & Online Retail Development in South Korea” provides the magnitude, growth, share, and dynamics of the online retail market and is an essential tool for companies either active in this sector or which are seeking to target this channel.
The report provides core insights into consumer behaviour and highlights the latest online trends and their impact on online product sales. Core data sets give both historical context and a view into the future - providing data from 2005 through to 2015 and allowing marketers to update their strategic planning and fill gaps in their knowledge about this rapidly evolving channel.
By examining best practice from leading national large-scale online retailers (but specifically excluding the likes of Amazon whose sites are well-known and vary little by country), as well as reviewing innovative approaches from smaller players, the report also provides insights and ideas about how best to approach growing online sales for your business.
Together these three core elements; market dynamics, consumer understanding and best practice examples will allow readers to easily understand the nature and development of online retail in South Korea and provide insight into how best to exploit the opportunities in the market.
Scope
The report analyses online consumer behaviour, market dynamics and best practice approaches to online retail in South Korea. In particular, core market data sets cover 8 product groups and 25 individual product markets within South Korea.
Product Coverage:
Clothing & Footwear
Jewelry & Watches
Luggage & Leather goods
Printed Media
Stationery & Cards
Communications Equipment
Computer Hardware & Software
Consumer Electronics
Household Appliances
Photographic Equipment
Drinks
Household Products
Packaged Food
Personal Care
Tobacco
Unpackaged Food
Floor Coverings
Furniture
Gardening & Outdoor Living
Home Improvement
Home Wares
Games Software
Music & Video
Sports Equipment
Toys & Games
Reasons To Buy
This report provides readers with unparalled levels of detail and insight into the development of online retail sales within South Korea:
- Understand consumer behaviour and online trends in US
- Understand which products will be the major winners and losers in the coming years
- Assess the impact of economic recession and recovery on market growth
- Learn from best practice approaches outlined in the case studies of leading online retailers
- Improve market and strategic planning using highly granular, forward-looking market data
Key Highlights
The Korean government has played an important role in the development of the domestic retail industry, with measures including the protection of Korean manufacturers against global manufacturers and the acceleration of the growth of the e-commerce sector through the Korea Institute for Electronic Commerce (KIEC). As a result of the global economic downturn in late 2008, South Korean GDP growth slowed to 0.2% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, resulting in growth exceeding 6% in 2010. However, high income consumers continued to purchase products through online channels, even during the recession, resulting in strong growth of the online retail sector throughout the review period.
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