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

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

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  • 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.

Market Share E-commerce Portal South Korea

Market Share E-commerce Portal South Korea

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
    • Product Type
    • 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:

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

 

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