Fashion market in South Korea
The South Korean Fashion eCommerce market is predicted to reach US$28,458.9 million by 2023 and accounts for 20.4% of the total eCommerce market in South Korea. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be -0.9%, resulting in a projected market volume of US$27,441.5 million by 2027. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.
Market development
eCommerce revenue development in the Sandals market in South Korea
The South Korean Sandals eCommerce market is predicted to reach US$1,613.6 million by 2023 and accounts for 23.9% of the Footwear eCommerce market in South Korea. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be -7.0%, resulting in a projected market volume of US$1,206.4 million by 2027. The Sandals eCommerce market is a sub-market of the Footwear market. Further categories within the Footwear market are: Active Footwear, Boots, Flat Shoes, High Heels & Pumps, and Other Footwear.
eCommerce revenue development in the Sandals market in South Korea
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
eCommerce revenue growth in the Sandals market in South Korea
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
Net eCommerce revenue split by sub-category
Note: Data shown is using current exchange rates.
Source: ECDB analysis
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 98.9 | 86.8 | 31.4 | 19.1 | 87.0 | 45.4 | 39.9 | 90.6 |
| AOV (in US$) | 0.4 | 0.3 | 0.8 | 0.6 | 0.3 | 0.9 | 0.2 | 0.0 |
| CVR (in %) | 39.8 | 14.6 | 57.6 | 77.4 | 63.9 | 14.2 | 73.3 | 15.1 |
Market definition
Definition of the Sandals market within the Fashion market
Market definition: Fashion > Footwear > Sandals The category Sandals includes the online trade of sandals (e.g. slide sandals, slingback sandals, t-strap sandals), flipflops and espadrilles. This category does not cover house slippers. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Sandals (e.g. slide sandals, slingback sandals, t-strap sandals)
- Flipflops
- Espadrilles
Out-of-scope
- House slippers
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