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Consumer Attitudes and Online Retail Dynamics in South Korea, 2013-2018

Summary

"Consumer Attitudes and Online Retail Development in South Korea, 2013-2018" is the result of Conlumino's extensive market research covering the online retail industry in South Korea. It 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 online the retail market in South Korea. It provides data for historic and forecast online retail sales, and also includes the business environment and country risk related to South Korea's online retail environment. In addition, it analyses the key consumer trends influencing the South Korean online retail industry.

By examining best practice from the 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 retailers, the report provides insights and ideas about how best to approach growing online sales for your business.

Key Findings

  • M-commerce is soaring with the increase in smart phone penetration and high mobile internet usage
  • The online channel is forecast to grow at a CAGR of 11.38% in 2013-2018, to reach KRW31 trillion in 2018, and increase its contribution to 9% of total South Korean retail sales, compared to 7.6% in 2013
  • Aging consumers are a key target group for retailers, as they seek convenience in shopping and delivery
  • Retailers are adopting omni-channel strategies to provide unique services in order to provide greater convenience to online customers
  • Electrical and electronics is the largest sold category over the online channel in 2013; however, apparel, accessories, luggage, and leather goods is set to surpass their sales by 2018

Synopsis

  • Provides in-depth analysis of the latest trends in online consumer shopping, covering the factors driving online shopping, consumer insights, market dynamics (covering 26 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 context on the penetration of online sales by product groups, how growth has developed over time, and key factors that will drive this market in the future

Reasons To Buy

  • The report helps to improve market and strategic planning using highly granular, forward-looking market data. Detailed category coverage is provided, covering 26 products, across nine product groups that include: Apparel, Accessories, Luggage and Leather Goods, Book, News and Stationery, Electricals and Electronics, Food and Grocery, Health & Beauty, Furniture and Floor Coverings, Home and Garden Products, Music, Video and Entertainment Software, and Sports and Leisure Equipment
  • Understand the consumer behavior and online trends in South Korea
  • Understand which products will be the major winners and losers in the online arena in the coming years
  • Learn from best practice approaches outlined in the case studies of leading online retailers
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Consumer Attitudes and Online Retail Dynamics in South Korea, 2013-2018
Published By :Conlumino
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