Rising E-Commerce Market
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Large E-Commerce Market per Capita
The e-commerce industry is showing rapid grow in Korea. According to the 2021 global e-commerce share of retail sales, Korea ranked 5th in the world. The key items that led the expansion of Korea's online market are electronic home appliances, fresh foods, and processed foods. They continue to grow boosted by the development of logistics system such as improved convenience of the online payment system, rocket delivery and early-morning delivery.
Country-by-Country Forecast of Retail E-Commerce
As of 2021 (Unit: %)
| Ranking | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Country | China | US | UK | Japan | Korea |
| Amount | 52.1 | 19.0 | 4.8 | 3.0 | 2.5 |
※ Source: Korea SMEs and Startups Agency, eMarketer
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 (as of Jan.31, 2023) 1USD = 1,238 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