The biggest player in the South Korean eCommerce Market is ssg.com. The store had a revenue of US$483 million in 2020. It is followed by yes24.com with US$401 million revenue and apple.com with US$367 million revenue.
Store rankings are based on every store that generates revenue in 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 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$45.4 million in 2020. Its revenue growth amounted to 26% 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 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 20-24) for the next four years will be 6%. Compared to the year-over-year growth of 22%, this decrease suggests a moderately flooded market. Another indicator of market saturation is the online penetration of 68% in in South Korea; in other words, 68% of the South Korean population have bought at least one product online in 2020.
Five categories are considered by ecommerceDB. Fashion is the largest segment in in South Korea and accounts for 29% of the eCommerce revenue in in South Korea. This is followed by Food & Personal Care with 22%, Electronics & Media with 18%, Toys, Hobby & DIY with 17% and Furniture & Appliances with the remaining 14%.
In in South Korea, CJ Logistics is the most frequently offered delivery service provider among online stores. Of those stores that indicating which service they use to transport their goods, 64% cited CJ Logistics as one of their providers. Moreover, Lotte and UPS are among the top three shipping service companies offered by online retailers in in South Korea, at rates of 9% and 5%.
Shipping information is based on orders from the store's main country, which is defined as the one where the store generates most of its online revenue. In this case, it is in South Korea. Only stores that provide information about their shipping providers can be considered.
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