The biggest player in the South Korean eCommerce Market is ssg.com. The store had a revenue of US$410 million in 2019. It is followed by yes24.com with US$306 million revenue and gsshop.com with US$281 million revenue.
Store rankings are based on every store that generates revenue in South Korea. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in South Korea was considered.
One of the fastest-growing stores in the South Korean market is sivillage.com. The store achieved sales of about US$35.9 million in 2019. Its revenue growth amounted to 170% in the previous year.
Digital Market Outlook by Statista
The Digital Market Outlook presents up-to-date figures on markets of the digital economy. The comparable key figures are based on extensive analyses of relevant indicators from the areas of society, economy, and technology.
Market expansion in South Korea is expected to continue over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate (CAGR 19-23) for the next four years will be 5%. Compared to the year-over-year growth of 6%, this decrease suggests a moderately flooded market. Another indicator of market saturation is the online penetration of 88% in South Korea; in other words, 88% of the South Korean population have bought at least one product online in 2019.
Five categories are considered by ecommerceDB. Fashion is the largest segment in South Korea and accounts for 23% of the eCommerce revenue in South Korea. This is followed by Food & Personal Care with 23%, Toys, Hobby & DIY with 20%, Electronics & Media with 17% and Furniture & Appliances with the remaining 17%.