South Korea’s Online Shopping Soars in September Fueled by Travel and E-Coupon Services

South Korea’s online shopping sector saw a remarkable 9.6% growth in September, with strong demand for travel, e-coupon services, and food contributing to the surge. The data revealed significant increases in online transactions for these categories, with mobile shopping through smartphones also on the rise, indicating changing consumer preferences and the continued growth of e-commerce in the country.

4 November 2023 – South Korea’s online shopping sector experienced significant growth in September, driven by robust demand for travel, food, and e-coupon services, according to data released by the country’s statistical office. Online retail sales in September reached 19.02 trillion won (approximately 14.4 billion U.S. dollars), marking a 9.6% increase compared to the same month in the previous year.

The surge in online demand for travel and transport services was particularly notable, with a substantial increase of 37.2%. E-coupon services also witnessed a significant uptick, with online transactions soaring by 42.8%. This trend reflects the growing popularity of gifting items like coffee and cake through e-coupons.

The online sale of food and beverages recorded a notable 22.1% increase, while demand for food delivery services rose by 7.2%.

Mobile shopping through smartphones continued to play a pivotal role, with a 6.8% year-on-year increase, reaching 13.77 trillion won (approximately 10.4 billion U.S. dollars) in September. – ref: Xinhua

Author: Terry KS

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