The Korean Statistical Agency has released the latest insights into online shopping trends for the month of August 2023. The data, aimed at informing the public about key activities and statistics, highlights significant developments in the realm of online commerce.
Key Highlights:
- Overall Transaction Volume:
- Online shopping transactions amounted to KRW 19.1 trillion, marking a 6.1% YoY increase.
- Mobile shopping transactions reached KRW 14.1 trillion, indicating a 5.3% YoY growth.
- MoM, online shopping transactions increased by 1.3%, while mobile shopping transactions rose by 0.5%.
- Mobile shopping accounted for 74.0% of the total online shopping transactions.
- Category-specific Transactions:
- YoY increases were observed in online transactions for travel and transportation services (29.1%), coupon services (37.0%), and food and groceries (5.1%).
- MoM, communication devices (52.8%) and food and groceries (6.1%) saw notable increases.
- Product Range-specific Transactions:
- YoY, transactions in comprehensive malls (4.1%) and specialty malls (9.3%) experienced growth.
- MoM, comprehensive malls increased by 1.3%, and specialty malls increased by 1.3%.
- Business Model-specific Transactions:
- YoY, online mall transactions increased by 6.6%, and online-offline hybrid mall transactions increased by 4.3%.
- MoM, online mall transactions increased by 1.7%, while online-offline hybrid malls remained stable.
This data reflects the dynamic landscape of online commerce in Korea, emphasizing the significant role of mobile transactions and showcasing growth across various product categories and business models.