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The Retail Delivery market in South Korea has seen significant growth in recent years, driven by changing consumer preferences and the development of new technologies.
Customer preferences: South Korean consumers are increasingly turning to online shopping, with e-commerce sales growing rapidly in recent years. This shift in consumer behavior has led to a corresponding increase in demand for retail delivery services, as customers seek faster and more convenient ways to receive their purchases. Additionally, there is a growing trend towards same-day and on-demand delivery, as consumers seek even greater speed and convenience.
Trends in the market: The South Korean Retail Delivery market has seen the emergence of new players, including start-ups and e-commerce platforms, that are challenging established players in the market. These new entrants are leveraging technology to offer faster and more efficient delivery services, and are also expanding into new areas such as food delivery. Established players are responding by investing in their own technology and expanding their delivery networks, in order to remain competitive.
Local special circumstances: One unique aspect of the South Korean market is the dominance of large conglomerates known as chaebols. These companies, which include Samsung and Hyundai, have significant influence over the economy and are involved in a wide range of industries including retail and logistics. This has led to a highly competitive market, with chaebols competing fiercely with each other and with smaller players for market share.
Underlying macroeconomic factors: South Korea has a highly developed economy with a strong focus on technology and innovation, which has helped to drive growth in the Retail Delivery market. Additionally, the government has implemented policies to support the growth of e-commerce and the development of new technologies, which has further stimulated the market. However, there are also challenges facing the market, including a highly competitive landscape and the need to balance speed and efficiency with cost-effectiveness.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)