Coupang is an online retailing company that initiated its business in August 2010, and its hard work paid off, and it made its way to become South Korea’s top-rated online store in 2014.
Coupang has significantly focused on its marketing campaigns to increase its awareness among people in South Korea, such as fantastic giveaways and Coupang cash offers.
These effective marketing strategies made Coupang visible throughout South Korea. Coupang offers a diverse range of products, such as grocery items, electronics items, cosmetics, baby care products, skincare products, interior products, and furniture.
Coupang- South Korea’s largest E-commerce company
Bom Kim is an initiator of South Korea’s profitable start-up, which is making news around the globe. He is now famous as the country’s latest billionaire. The establishment of this start-up has already made history.
E-commerce has enormous scope in South Korea because of technology advancement and informed consumers. It has elevated the competition in the E-commerce market significantly.
The growing E-commerce company had made its mark into the E-commerce market with its speedy delivery service within a day for millions of items.
Coupang has invested cleverly and wisely in its logistics network
The quick and prompt deliveries of millions of products with sustainable performance has been achieved because of Coupang’s substantial investment in logistics, by establishing a logistic system that leaves behind other competitors.
The growth of South Korea’s e-commerce market
We can see a substantial increase in south Korea’s E-commerce market. According to Euromonitor International, there is a growth of 22 percent in 2018, and it accounts for 24 percent of retailing, which listed as highest in the world, before china, japan, and the US, having 23,8.6, and 13.7 percent respectively.
South Korea is listed as the fifth-largest e-commerce market in the world, and according to predictions, it will become the third-largest in the world shortly.
Coupang is now famous as the” Amazon of South Korea.” Coupon has annual sales of more than $3 billion. Coupang has made its way to become the biggest online retailer in the country in 8 years of period.
Coupang- A threat to Amazon
The company states that around half of the population of South Korea( that accounts for 51 million people) has already downloaded Coupang’s mobile app. Amazon is already struggling to make its foot in Asian E-market, and it has to make its mark in South Korea to prevent future loss.
Amazon has made its name on top through its fast delivery shipping of products, while Coupang promises to deliver products within the same day for a low price. Coupang has positioned itself as the most economical -price provider, and it is competing effectively in such a highly complex market.