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MARKET REPORT DETAIL

Consumer Attitudes and Online Retail Dynamics in South Korea, 2013

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ISBN: CONRT0097IS
Published Date: Nov, 2013
Format: PDF
No of Pages: 77
 
 
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  • Abstract
  • Table of Contents

Product Synopsis

Provides in-depth analysis of the latest trends in online consumer shopping, covering the factors driving online shopping, consumer insights, market dynamics (covering 25 product categories), and reviews of 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

Introduction and Landscape

Why was the report written?
“Consumer Attitudes and Online Retail Development in South Korea, 2013” 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 South Korea’s online retail market. 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. 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.

What is the current market landscape and what is changing?
South Korea has a high internet penetration rate and a dynamic communication services industry, which accounts for its status as one of Asia’s fastest-growing online retail markets. Conlumino expects online retail sales to grow at a robust pace during 2012-2017, with a CAGR of 9.89%.

What are the key drivers behind recent market changes?
The major factors driving online retail sales in South Korea include technological innovation and promotion through social media. Macroeconomic factors such as inflation and weak economic conditions are pushing consumers towards low cost alternatives.

Key Features and Benefits

Understand consumer behaviour and online trends in South Korea.
Understand which products will be the major winners and losers in the coming years.
Learn from best practice approaches outlined in the case studies of leading online retailers.
Improve market and strategic planning using highly granular, forward-looking market data. Detailed category coverage is provided, covering 25 products, across eight product groups that include: Apparel, Accessories, Luggage and Leather Goods, Book, News and Stationery, Electricals and Electronics, Food and Grocery, Furniture and Floor Coverings, Home and Garden Products, Music, Video and Entertainment Software, and Sports and Leisure Equipment.
Assess the impact of economic recession and recovery on market growth.

Key Highlights

In South Korean online retailing, clothing and footwear was among the highest selling categories in 2012.
M-commerce is flourishing in South Korea as the number of smartphones and mobile internet users are increasing.
Retailers are adopting omni-channel strategies in South Korea in response to the increasing consumer demand.


Table of Contents

1 Introduction
1.1 What is this Report About?
2 Market at a glance
3 Consumer Insight: Online Shopping Attitudes and Behaviors
3.1 Overview of South Korea Online Shopping Environment
3.1.1 Internet penetration in South Korea is reaching saturation point
3.1.2 Average broadband speed recorded in South Korea is 14 Mbps
3.2 Consumer Attitudes and Behavior
3.2.1 M-commerce is soaring in South Korea, with the rise in smartphones ownership and mobile internet penetration
3.2.2 Retailers adopting omni channel strategies to providing unique services in order to increase their customer base
3.2.3 Online Clothing and footwear sales is on rise
3.2.4 Social commerce is growing rapidly in South Korea
3.2.5 Online retailers targeting aging population in South Korea
4 Online Channel Dynamics
4.1 The Online Channel’s Share of Total Retail Sales
4.1.1 South Korea online vs. offline channel forecasts
4.1.2 Online penetration: global and regional comparisons
4.1.3 South Korea Online Retail Sales Penetration compared to Global Average
4.1.4 South Korea Online Retail Sales Penetration compared to Asia-Pacific average
4.2 Channel Dynamics
4.2.1 South Korea retail channel dynamics – future performance
4.2.2 Channel group share development
4.2.3 Individual channel performance
4.3 Category Dynamics
4.3.1 Online vs. offline retail sales comparison by category group, 2012
4.3.2 Online retail market dynamics by category
4.3.3 Online retail sales share by category group
4.3.4 Online retail sales growth by individual category
4.3.5 Food and Grocery Categories: Market Size and Forecasts
4.3.6 Electrical and Electronics Categories: Market Size and Forecasts
4.3.7 Music, Video, and Entertainment Software Categories: Market Size and Forecasts
4.3.8 Apparel, Accessories, Luggage and Leather Goods Categories: Market Size and Forecasts
4.3.9 Books, News and Stationery Categories: Market Size and Forecasts
4.3.10 Sports and Leisure Equipment Categories: Market Size and Forecasts
4.3.11 Furniture and Floor Coverings Categories: Market Size and Forecasts
4.3.12 Home and Garden Categories: Market Size and Forecasts
5 Case Studies: Leading Online Retailers in South Korea
5.1 Retailer 1: Lotte Inc.
5.1.1 Business description
5.1.2 Site experience
5.2 Retailer 2: Interpark INT
5.2.1 Business description
5.2.2 Site experience
5.3 Other Innovative Retailers in South Korea
5.3.1 G-market
5.3.2 Emart
5.3.3 Galleria.co.kr
6 Appendix
6.1 Definitions
6.1.1 This report provides 2012 actual sales; while forecasts are provided for 2013 – 2017
6.2 Summary Methodology
6.2.1 Overview
6.2.2 The triangulated market sizing method
6.2.3 Industry surveys in the creation of retail market data
6.2.4 Quality control and standardized processes
6.3 About Conlumino
6.4 Disclaimer

List of Tables

Table 1: Online Retail Sales in South Korea
Table 2: Regional Fixed Broadband Users and its Penetration
Table 3: Regional Mobile Broadband Users and its Penetration
Table 4: South Korea Online vs. Offline Retail Sales and Forecast (KRW bn), 2007–2017
Table 5: South Korea Online vs. Offline Retail Sales and Forecast (USD bn), 2007–2017
Table 6: South Korea Online vs. Offline Retail Sales and Forecast (% Share), 2007–2017
Table 7: South Korea Online Sales vs. Global Average
Table 8: South Korea Online Sales vs. Asia-Pacific
Table 9: South Korea Overall Retail Segmentation (KRW bn) by Channel Group, 2007–2017
Table 10: South Korea Channel Retail Sales and Forecast (KRW bn) by Channel Group, 2007–2017
Table 11: South Korea Channel Retail Sales and Forecast (USD bn) by Channel Group, 2007–2017
Table 12: South Korea Channel Retail Sales and Forecast (% Share) by Channel Group, 2007–2017
Table 13: South Korea Channel Retail Sales and Forecast (KRW bn) by Channel, 2007–2017
Table 14: South Korea Channel Retail Sales and Forecast (USD bn) by Channel, 2007–2017
Table 15: South Korea Retail Sales Split (KRW bn), Online vs. Offline, 2012
Table 16: South Korea Retail Sales Split (USD mn), Online vs. Offline, 2012
Table 17: South Korea Online Retailers Market Dynamics by Category Group, 2007–2017
Table 18: South Korea Online Retail Sales and Forecast (KRW bn) by Category Group, 2007–2017
Table 19: South Korea Online Retail Sales and Forecast (USD mn) by Category Group, 2007–2017
Table 20: South Korea Total and Online Retail Sales in Food and Grocery Categories (KRW bn), 2007–2017
Table 21: South Korea Total and Online Retail Sales in Food and Grocery Categories (USD mn), 2007–2017
Table 22: South Korea Total and Online Retail Sales in Electrical and Electronics Categories (KRW bn), 2007–2017
Table 23: South Korea Total and Online Retail Sales in Electrical and Electronics Categories (USD mn), 2007–2017
Table 24: South Korea Total and Online Retail Sales in Music, Video and Entertainment Categories (KRW bn), 2007–2017
Table 25: South Korea Total and Online Retail Sales in Music, Video and Entertainment Categories (USD mn), 2007–2017
Table 26: South Korea Total and Online Retail Sales in Apparel, Accessories, Luggage and Leather Categories (KRW bn), 2007–2017
Table 27: South Korea Total and Online Retail Sales in Apparel, Accessories, Luggage and Leather Categories (USD mn), 2007–2017
Table 28: South Korea Total and Online Retail Sales in Books, News and Stationery Categories (KRW bn), 2007–2017
Table 29: South Korea Total and Online Retail Sales in Books, News and Stationery Categories (USD mn), 2007–2017
Table 30: South Korea Total and Online Retail Sales in Sports and Leisure Equipment Categories (KRW bn), 2007–2017
Table 31: South Korea Total and Online Retail Sales in Sports and Leisure Equipment Categories (USD mn), 2007–2017
Table 32: South Korea Total and Online Retail Sales in Furniture and Floor Coverings Categories (KRW bn), 2007–2017
Table 33: South Korea Total and Online Retail Sales in Furniture and Floor Coverings Categories (USD mn), 2007–2017
Table 34: South Korea Total and Online Retail Sales in Home and Garden Products Categories (KRW bn), 2007–2017
Table 35: South Korea Total and Online Retail Sales in Home and Garden Products Categories (USD mn), 2007–2017
Table 36: South Korea Exchange Rate KRW–USD (Annual Average), 2007–2012
Table 37: South Korea Exchange Rate KRW–USD (Annual Average), 2013–2017 Forecasts
Table 38: Conlumino Retail Channel Definitions
Table 39: Conlumino Retail Category Definitions
Table 40: Conlumino Retail Country Coverage

List of Figures

Figure 1: Share of Online Retail Sales in Total Retail Sales
Figure 2: Total Internet Users and Penetration, 2007–2012
Figure 3: Number of Broadband Users and Penetration, 2007-2012
Figure 4: M-commerce in South Korea
Figure 5: Retailers Adopting Omni-channel Strategies
Figure 6: Online Retail Sales of Clothing and Footwear in South Korea
Figure 7: Online Retail Sales of Clothing and Footwear in South Korea
Figure 8: Aging Population in South Korea
Figure 9: South Korea Online vs. Offline Retail Sales and Forecast (USD bn), 2007–2017
Figure 10: South Korea Online Sales vs. Global Average (% of Total Retail)
Figure 11: South Korea Online Sales vs. Asia-Pacific Countries Average (% of Total Retail)
Figure 12: South Korea Overall Retail Market Dynamics by Channel Group, 2007–2017
Figure 13: South Korea Retail Sales and Forecast (KRW bn) by Channel Group, 2007–2017
Figure 14: South Korea Retail Sales, Online vs. Offline, 2012
Figure 15: South Korea Online Retailers Market Dynamics by Category Group, 2007–2017
Figure 16: South Korea Online Retail Sales and Forecast (USD mn) by Category Group, 2007–2017
Figure 17: Page Layout
Figure 18: Product View
Figure 19: Home Page
Figure 20: Product View
Figure 21: Home Page
Figure 22: Emart Home Page and Flying Store
Figure 23: Flash Sales
Figure 24: The Triangulated Market Sizing Methodology


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