Rising E-Commerce Market
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Rapid Growth of E-Commerce
The e-commerce industry is showing strong growth in Korea. The market size as of 2020 is the fifth largest in the world.
Retail e-commerce sales are the 5th largest in the world, and market research company eMarketer has forecast that Korea will retain this rank in 2021.
The items most frequently traded via online marketplace are food services, food and beverage, home alliance/ electronics/ communications devices and personal care products.
Retail e-commerce sales are the 5th largest in the world, and market research company eMarketer has forecast that Korea will retain this rank in 2021.
The items most frequently traded via online marketplace are food services, food and beverage, home alliance/ electronics/ communications devices and personal care products.
Country-by-Country Forecast of Retail E-Commerce
As of 2019 (Unit: a hundred million dollars)
| Ranking | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Country | China | US | UK | Japan | Korea |
| Amount | 22,970 | 7,950 | 1,800 | 1,410 | 1,110 |
※ Source: eMarketer (Dec 2020)
Annual E-Commerce Sales
| 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|
| Sales(USD 1bln) | 61.4 (USD 1bln) | 75.3 (USD 1bln) | 87.4 (USD 1bln) | 109.5 (USD 1bln) |
| Share(%)2) | 16.2% | 18.8% | 21.4% | 26.7% |
1) Exchange rate(Aug 31, 2021) 1USD = 1,160 KRW
2) E-commerce share of total retail sales (%)
※ Source: Statistics Korea, Online shopping trends
2) E-commerce share of total retail sales (%)
※ Source: Statistics Korea, Online shopping trends