A unique feature in the South Korean online retail market is the popularity and success of traditional mail-order businesses to adapt to online retail. As a result, companies compete with physical store retailers in markets previously considered incompatible with the online retail format.
Consumers have been reacting to the effects of the global recession, including the following recovery period, on their discretionary spending and retail markets have been no exception. While the country by country market changes have varied, nowhere has been left totally untouched. This report quantitatively examines the components of change in the market by looking at historic and future growth patterns including how changes in consumer behavior have affected the online retail sector for different product categories.
The share of online retail sales towards total retail sales increased from 4.5% in 2006 to over 7.1% in 2011, and is expected to increase to 9.7% in 2016.
In terms of online market penetration, Music, video and entertainment software was the leading category, with 35.3% of purchases being made online in 2011.
Provides in-depth analysis of the latest trends in online consumer shopping, covering drivers of online shopping, consumer insights, market dynamics (covering 25 product categories) and reviews of the latest best practice in online retail site design- Based on the latest data, the report not only provides details of the size and growth of this increasingly important channel, it also provides essential contexts on the penetration of online sales by product groups, how growth has developed over time and key drivers of this market in the future
Introduction and Landscape
This report provides the magnitude, growth, share, and dynamics of the online retail market in South Korea. It is an essential tool for companies active across South Korea's online retail value chain and for new companies considering entry into South Korea online retail market. It provides data for historic and forecast online retail sales, and also includes the business environment and country risk related to South Korea online retail environment.
By examining best practice from leading national large-scale online retailers (but specifically excluding the likes of Amazon whose sites are well-known and vary little by country), as well as reviewing innovative approaches from smaller companies, the report provides insights and ideas about how best to approach growing online sales for your business.
Key Features and Benefits
- Understand consumer behavior and the online trends in South Korea.
- Understand which products will be the major winners and losers in the coming years.
- Learn from best practice approaches outlined in the case studies of leading online retailers.
- Improve market and strategic planning using highly granular, forward-looking market data. Detailed category coverage is provided, covering 25 products, across eight product groups that include: Apparel, Accessories, Luggage and Leather Goods, Books, News and Stationery, Electricals and Electronics, Food and Grocery, Furniture and Floor Coverings, Home and Garden Products, Music, Video and Entertainment Software, and Sports and Leisure Equipment.
- Assess the impact of the economic recession and recovery on market growth.
Click for Report details:Consumer Attitudes and Online Retail Dynamics in South Korea