South Korea’s E-commerce Sector Poised for Significant Growth – Market Forecast to 2029 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “South Korea Ecommerce Market Opportunities Databook – 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering

A comprehensive market analysis has projected robust growth for South Korea’s E-commerce industry, forecasting a sizable annual increase that could elevate the market’s valuation to US$269.9 billion by 2024. The sector’s expansion is expected to continue at a compound annual growth rate (CAGR) of 6.76% from 2024 to 2028, culminating in a gross merchandise value of US$350.7 billion by the end of the forecast period.

Growth Drivers and Industry Trends

The report highlights an array of innovative trends and growth drivers shaping South Korea’s E-commerce landscape. It draws attention to detailed market share analyses, emerging sales channels, and consumer demographics that together paint a picture of a dynamic marketplace ripe with opportunities. With advancements such as live streaming engagement models and an increase in cross-border purchases, the industry is on the brink of an exciting transformation.

Segment Highlights

The analysis delves deeply into the trajectory of various E-commerce segments, including retail shopping, travel and hospitality, and the burgeoning online food service sector. A burst of activity is anticipated in media and entertainment as well, fueled by streaming services and online engagement. Additionally, healthcare and wellness, as well as technology products and services are identified as key verticals with significant growth potential.

Consumer Insights

An insightful evaluation of consumer behavior underscores the evolving nature of online purchasing patterns in South Korea. With payment preferences shifting and demographic data pointing towards strategic market segments, industry players are armed with the knowledge to carve out competitive strategies tailored to rapidly changing consumer demands.

Strategic Outlook

The market’s outlook suggests that stakeholders and new entrants should focus on crafting strategies that hinge on an acute understanding of sales channels, device preferences, and operating systems. They should also consider geographical nuances, with a breakdown of market size and preferences across major cities. Findings around payment instruments forecast developing trends that are primed to shape the future of transactions within the E-commerce space.

With the intersection of shopper data and market trends, businesses and investors operating within South Korea’s E-commerce ecosystem can look forward to substantial opportunities for growth and innovation in the coming years. The industry’s steady development signals a market environment that is both dynamic and receptive, bolstered by technological advancements and shifting consumer needs.

Companies Featured

• 11Street
• Coupang
• Gmarket
• Interpark
• Naver Shopping
• Baedal Minjok
• Coupang Eats
• Shuttle Food Delivery
• Yogiyo
• Kakao Taxi
• MyRealTrip
• TADA
• TMAP Taxi
• Yanolja

For more information about this report visit https://www.researchandmarkets.com/r/ezeaa8

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