Coupang news

South Korean ecommerce giant Coupang turned a profit for the first time, which is notable in the ultra-competitive and cost-heavy ecommerce industry. It did so through providing shoppers with a superior product range and service, and incorporating technology to improve cost efficiency. Profitability for the first time Coupang announced a 10% revenue increase to US$5.1 bn in the quarter endi...

South Korean ecommerce giant Coupang has announced financial results for the April-June period. The New York-listed company recorded US$4.48 bn (KRW5.22 tn) in revenue in Q2, compared to US$4.2 bn in Q1 and up 71% year-on-year. Active customers up by 26% YoY Coupang said the number of its active customers, defined as those who have bought goods at least once in the first quarter, reached ...

The South Korean ecommerce company disclosed this week it is ready to start operations in Singapore. As a first step, it has completed the hiring of senior executives in the country. Testing the water for its Southeast Asia strategy The move is seen as Coupang’s intention to use Singapore to test its Southeast Asia growth strategy. Although Singapore is small in size, with only six million ...

South Korean ecommerce giant Coupang has made its first international foray in neighboring Japan, a move that was supported by investor SoftBank. Offering its delivery service in Tokyo as a pilot project Coupang is testing its delivery service in selected locations in Tokyo. Same day delivery service will be available in the Nakanobu area as of this month. The company is now well establi...

South Korea’s largest ecommerce company reported first quarter results since its blockbuster IPO. Revenue jumped by 74%YoY, reaching US$4.2 bn The Seoul based company reported a 74% jump in revenue from the year-ago period to KRW4.75tn (US$4.2 bn). That slightly beat FactSet estimates of KRW4.74tn (US$4.19 bn). It was the company's first quarterly report since its  initial public offerin...

Emart, the grocery retail chain owned by Shinsegae Group in South Korea, has announced that it would give customers “e-money”. It is Emart’s low price guarantee Emart recently announced that if customers have found the same products being sold elsewhere at a cheaper price, they will match the difference by giving customers online credit points known as e-money. The new policy applies to ...

South Korean retail giant Shinsegae Group and technology behemoth Naver (Korea’s Google) are combining forces to gain a competitive edge in the fast changing ecommerce field. Signed a stock swap deal worth KRW250bn (US$221m) The two companies signed a strategic partnership agreement and a stock swap deal worth KRW250bn (US$221m) this week. “ We plan to establish a strong cooperation netw...

COVID risk remains high in the country. The government issued stricter social distancing measures, known as Level 2.5, on 31 August. Online firms are working hard to cope with the sudden increase in demand for fresh food grocery under the new guidelines. Stricter social-distancing measures issued on 31 August The government adopted a three-tier social distancing scheme on 28 June and rai...

South Korean pure play ecommerce retailer Coupang has become of one of the biggest winners amid the virus outbreak, helped by its speedy home delivery service. Coupang's online market share reaching 24.6% Based on transaction volume from 1 January to 7 March this year, Coupang accounts for 24.6% of online retail market in South Korea. It is a significant increase of 6.5 percentage points fr...

The US social media giant hopes to increase its market share in a competitive market dominated by local players. Rolling out online store, Facebook Shops Facebook has rolled out its latest innovation, Facebook Shops, in South Korea. Sellers can create their own collection and customize the look and feel of the shop with images and colours that showcase their brand. Shoppers can browse ...