MARKET REPORTS
South Korea B2C E-Commerce Market 2017 code:1324
- What are the market size and the growth rate of B2C E-Commerce in South Korea?
- How large are the M-Commerce sales in this country?
- What are the key trends in South Korean E-Commerce?
- How do online retail sales in South Korea break down by product categories?
- Who are the market leaders and the fast growing players in South Korea’s E-Commerce?
Key Finding:
Mobile commerce spurs growth of the advanced B2C E-Commerce market in South Korea
South Korea is the third largest online retail market in Asia. It is also one of the most advanced both in this region and worldwide, with B2C E-Commerce’s share of total retail sales approaching the 20% threshold in 2016, according to sources cited in this report by yStats.com. South Korea has a well-developed Internet infrastructure; its Internet penetration is the highest in the region. More than 50% of Internet users make purchases online and among them, two-thirds do so at least once a month.
Travel, clothes and electronics were the largest product categories in terms of 2016 B2C E-Commerce sales, in line with global trends. The purchase of groceries is where online shoppers in South Korea stand out, as yStats.com’s report reveals. A double-digit share of retail sales of FMCG was made online in 2016, while in other advanced markets such as the USA, the UK and France this share is still in single-digits. Moreover, above one-half of online sales of groceries was transacted via mobile devices.
M-Commerce is another area where online shoppers in South Korea reached remarkable heights, according the findings of yStats.com. More than 50% of B2C E-Commerce sales in this country stem from mobile. Driven by convenience of mobile shopping, consumers in South Korea increasingly turn to mobile devices for making purchases online. As of early 2017, smartphone stands as the favorite device of South Korean online shoppers, with the share of Internet users buying on mobile exceeding the share of those using computers to shop.
As mobile commerce is growing at double the rates of overall online retail sales, the competition between major market players is increasingly shifting to the mobile field. Mobile shopping applications from 11Street and Coupang record the highest number of users, each in seven-digit figures, while eBay Korea, with its marketplaces Gmarket and Auction, remains the leader by overall B2C E-Commerce market share.
1. Management Summary
2. Overview & International Comparisons
- Overview of B2C E-Commerce Market and International Comparisons, May 2017
- B2C E-Commerce Sales in South Korea, in USD billion, B2C E-Commerce Share of Total Retail Sales, in %, and CAGR, in %, Compared to Worldwide and Selected Territories in Asia, 2011, 2016 & 2021f
- Retail E-Commerce Sales in South Korea, in USD billion, and CAGR, in %, Compared to Selected Countries in Asia-Pacific, 2016 & 2021f
- Internet Penetration in South Korea, in % of individuals, Compared to Selected Countries in Asia-Pacific, 2014-2020f
- Average Internet Connection Speed in South Korea, in MBPS, Compared to Selected Countries in Asia-Pacific, Q4 2016
3. Trends
- Overview of B2C E-Commerce Market Trends, May 2017
- Breakdown of Devices Most Used for Online Shopping, in % of Online Shoppers, January 2017
- Mobile Shopper Penetration, in % of Internet Users, by Age Group and Total, Q3 2016
- M-Commerce Share of B2C E-Commerce Sales, in %, 2016
- M-Commerce Sales, in KRW trillion, and Share of E-Commerce Sales, in %, 2014-2016
- M-Commerce Sales by Product Category, in KRW billion, and M-Commerce Share of E-Commerce Sales in Each Category, in %, 2016
- Awareness and Usage of Online-to-Offline Services, in % of Internet Users, Q3 2016
- Cross-Border E-Commerce Imports, in KRW billion, 2014 – 2016
- Cross-Border E-Commerce Exports, in KRW billion, 2014 – 2016
- Cross-Border E-Commerce Exports, in KRW billion, 2014 – 2016
- Breakdown of Cross-Border E-Commerce by Country and Region, by Imports and Exports, in %, 2016
- Breakdown of Cross-Border E-Commerce Exports and Imports by Product Category, in KRW billion, and Year-on-Year Change, in %, 2015 & 2016
4. Sales & Shares
- Retail E-Commerce Sales, in KRW trillion, and Year-on-Year Change, in %, 2010-2016
- E-Commerce Share of Total Retail Sales, in %, February 2016 & February 2017
- Retail E-Commerce Sales Forecast, in USD billion, and CAGR, in %, by Two Comparative Estimates, 2016 & 2021f
5. Internet Users & Online Shoppers
- Number of Internet Users, in millions, and Penetration, in % of Individuals, 2010 – 2016
- Online Shopper Penetration, by Device and Total, in % of Internet Users, Q3 2016
- Breakdown of Online Shopping Frequency, in % of Online Shoppers, Q3 2016
- Breakdown of Online Shoppers into Groups by Average Number of Online Purchases Per Month, by PC and Mobile Shoppers, in %, January 2017
6. Products
- E-Commerce Sales by Product Category, in KRW billion, 2015 & 2016, and Year-on-Year Change, in %, 2016
- Top 10 Product Categories Most Purchased Online, in % of Online Shoppers, Q3 2016
7. Payment
- Payment Methods Used in Online Shopping, in % of Online Shoppers, Q3 2016
- Payment Methods Used in Online Shopping, in % of Online Shoppers, by PC and Mobile, Q3 2016
- Purposes of Using Mobile Payments, in % of Mobile Payment Users, September 2015
8. Delivery
- Overview of Delivery Services Offered by the Top 2 E-Commerce Players, May 2017
9. Players
- Overview of B2C E-Commerce Players, May 2017
- Top E-Commerce Platforms Purchased from, in % of Mobile Shoppers and PC Shoppers, January 2017
- Top 10 E-Commerce Websites by Unique Visitors, in millions, and Reach, in %, April 2017
- Top 10 E-Commerce Mobile Applications by Unique Users, in millions, and Reach, in %, March 2017
- Forward Ventures Co. Ltd.
- SK Group
- Wemakeprice Inc.
- eBay Korea Co. Ltd.
Quotes of our customers
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As a company that operates on a global level, the research results that yStats.com provides represent significant added benefit for us. The comprehensive analyses are executed quickly and flexibly. Furthermore, they are a reliable resource for helping us to make strategic decisions.
Travis Witteveen, Chief Operating Officer Markets and Operations – Avira GmbH Leading European Software Company
-
The valuable market insights that we obtain from yStats.com’s reports are easy to digest, up-to-date and cost efficient compared to buying multiple reports from elsewhere or researching the data in-house. We really value the regular updates and personalized summaries, as well as access to our dedicated account manager so we can easily ask for further information or clarifications. Searching for topics via the website and then being able to download the reports in PowerPoint as well as PDF formats means the service is extremely easy to use and saves us lots of time.
Rachel Bale, Vice President, Global Merchant Development – Mastercard
-
For us at Ingenico ePayments, the reports in yStats.com’s Full Access subscription are a great tool to gain insights into the global and regional E-Commerce markets. The accuracy and depth of their data allows for efficient research, even in often very specific payments topics. For us, yStats.com’s products are complementary to in-house and other market data to ensure a more complete view of the global markets.
Gertjan Dewaele, Product Intelligence & Innovation Manager – Ingenico ePayments
-
yStats.com quickly and flexibly compiles the information we require. Regardless of whether we need local or transnational data, we always get the best results from yStats.com!
Steve Rotter, Vice President of Marketing – Brightcove, Inc.: Leading Online Video Company
-
When we need the latest trends and statistics on the retail, homeshopping and e-commerce market, we turn to yStats.com. yStats.com turns the data into concise information that is objective and reliable. yStats.com delivers a cost-efficient and time saving research service for our company
Dr. Marcus Ackermann, Member of the Executive Board – Bonprix
-
The flexibility that yStats.com offers ensures that we always receive analyses, data and reports that match our needs. Fast, objective and to the point!
Iris Stöckl, Director Investor and Public Relations – Wirecard
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Quotes of our customers
-
As a company that operates on a global level, the research results that yStats.com provides represent significant added benefit for us. The comprehensive analyses are executed quickly and flexibly. Furthermore, they are a reliable resource for helping us to make strategic decisions.
Travis Witteveen, Chief Operating Officer Markets and Operations – Avira GmbH Leading European Software Company
-
The valuable market insights that we obtain from yStats.com’s reports are easy to digest, up-to-date and cost efficient compared to buying multiple reports from elsewhere or researching the data in-house. We really value the regular updates and personalized summaries, as well as access to our dedicated account manager so we can easily ask for further information or clarifications. Searching for topics via the website and then being able to download the reports in PowerPoint as well as PDF formats means the service is extremely easy to use and saves us lots of time.
Rachel Bale, Vice President, Global Merchant Development – Mastercard
-
For us at Ingenico ePayments, the reports in yStats.com’s Full Access subscription are a great tool to gain insights into the global and regional E-Commerce markets. The accuracy and depth of their data allows for efficient research, even in often very specific payments topics. For us, yStats.com’s products are complementary to in-house and other market data to ensure a more complete view of the global markets.
Gertjan Dewaele, Product Intelligence & Innovation Manager – Ingenico ePayments
-
yStats.com quickly and flexibly compiles the information we require. Regardless of whether we need local or transnational data, we always get the best results from yStats.com!
Steve Rotter, Vice President of Marketing – Brightcove, Inc.: Leading Online Video Company
-
When we need the latest trends and statistics on the retail, homeshopping and e-commerce market, we turn to yStats.com. yStats.com turns the data into concise information that is objective and reliable. yStats.com delivers a cost-efficient and time saving research service for our company
Dr. Marcus Ackermann, Member of the Executive Board – Bonprix
-
The flexibility that yStats.com offers ensures that we always receive analyses, data and reports that match our needs. Fast, objective and to the point!
Iris Stöckl, Director Investor and Public Relations – Wirecard