The South Korea eCommerce market is the sixth biggest in the world. But the eCommerce landscape is much more complex than in North America or Europe. And a one-size-fits-all approach to the market will spell doom for online retailers. South Koreans are among the most connected consumers in the world. The average daily commute for South Koreans is long: 96 minutes.
South Korea is the most digitally connected country in the world more so even than Singapore and Japan. Thanks to a huge push to build infrastructure to support 5G ahead of the Winter Olympics in Pyeongchang , high-speed connectivity is available pretty much everywhere in the country.
In , South Korea was the first country to launch the 5G mobile network. Entering the South Korea eCommerce market is difficult but well worth the effort. South Korean consumers are less trusting of international brands, but are receptive to new things and not big on brand loyalty.
So if you can navigate the eCommerce market effectively, the potential payoff could be huge. As a very technologically savvy culture, South Koreans have their own platforms, and each plays a role in the purchasing decision. More on Naver later. Google : Brand research and consideration. KakaoTalk : Chat with friends and discuss new products. A whopping YouTube : Brand exploration and fun. Coupang : Shopping app. KakaoPay or SamsungPay : Online payment.
While these services continue to gain ground, credit-based and single-method payment options dominate the market. But consumers are increasingly seeking digital-based payment alternatives. More than 8 million people are active bloggers on Naver, and there are over 31 million total blogs.
