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South Korea B2C E-Commerce Report 2011
yStats.com GmbH & Co. KG, Dec 2011, Pages: 39
Internet use and B2C E-Commerce well established in South Korea
The latest “South Korea B2C E-Commerce Report 2011”, compiled by Hamburg-based market research firm yStats.com features important B2C E-Commerce facts and figures on South Korea. In addition to revenue figures, market shares and customers, the report also covers general online use, the latest trends and major competitors.
In 2010, the number of internet users in South Korea rose to more than 35 million. Growth rates were very low in the last few years, given that almost the whole population between 10 and 40 has already been using the internet for a while.
Credit card payment enjoys wide-spread popularity in South Korean B2C E-Commerce
South Koreans seem to be very open toward new technologies. As a result, B2C E-Commerce is very well established. Revenue in this area is expected to generate more than USD 20 billion by 2015. Credit card payments are very popular in this segment. More than 70 % of the total online trade volume is processed using this payment method. In addition to general revenue figures, the yStats.com “South Korea B2C E-Commerce Report 2011” also shows the most popular product categories in terms of market volume in 2010. These categories include “Fashion and fashion related products”, “Household appliances” and “Travel arrangements”. Mobile trade is another significant trend in B2C E-Commerce. In 2011, British super market chain Tesco opened a virtual grocery store, where users can purchase products using their smartphones.
Key Findings:
- In 2010, the number of internet users in South Korea rose to more than 35 million.
- The market for regular retail stores in South Korea is saturated. As a result, retailers, especially supermarket chains, are more and more expanding into online business.
- In the second quarter of 2011, “Credit Card” was the most used payment option in B2C E-Commerce in South Korea, accounting for more than 70% of market value.
- The most popular product categories in South Korean B2C E-Commerce are “Fashion and fashion related products” and “Household appliances”.
- Gmarket.co.kr, 11st.ko.cr and Naver.com Shopping are leading players in B2C E-Commerce in South Korea
Key Findings
- Chinese shoppers are very enthusiastic about online shopping. As a result, the number of online shoppers is expected to increase to more than 300 million by 2015.
- Convenience and good deals are most frequently cited as the advantages of online shopping in China.
- Mobile shopping continues to gain ground in China. This trend can be attributed to the growing number of smartphone sales and the increased use of 3G networks.
- Tmall.com, 360buy.com and Amazon.cn are the leading players in Chinese B2C E-Commerce.
- In June 2011, the leading group shopping sites in China were Ju.taobao.com, Lashou.com and Meituan.com.
Product Information:
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