Market Share of South Korea E-commerce Industry
The South Korean e-commerce market is fragmented, with the presence of major players like Coupang Corp., Naver Shopping, eBay Inc., Amazon.com Inc., and Emart. Players in the market are adopting strategies such as partnerships, innovations, mergers, investments, and acquisitions to enhance their service offerings and gain a sustainable competitive advantage. Furthermore, the growing popularity and adoption of e-commerce attract newer players to the market, thus increasing the competitive rivalry in the South Korean e-commerce market.
In April 2023, SSG.com launched Randers Day Fever, allowing customers to buy products with half-price discounts. In the shopping category, eight special products are released every day at 9:00 a.m. through Suk.com.
In March 2023, TMON announced that the company had launched the 'Qx Prime' exclusive hall based on fast delivery. If the customer orders before 2 p.m., the product will be shipped out the same day and delivered the next day. This will allow the company to stay ahead of its competitors.
Furthermore, to increase its market share, in March 2023, TMON extended its partnership program and collaborated with the youth cooperative 'Two Dog.' Through this, it has launched five types of homemade snacks, a new product of the companion animal NPB. In addition, the company has announced that it will donate some of the proceeds from this sale to rescue abandoned dogs and strive to spread good consumption. This will help the company attract more pet owners.
South Korea E-Commerce Market Leaders
Coupang Corp.
Naver Shopping
eBay Inc.
Amazon.com Inc.
EMart
*Disclaimer: Major Players sorted in no particular order
