Internet use and B2C E-Commerce well established in South Korea
In 2010, the number of internet users in South Korea rose to more than 35 million. Growth rates were very low in the last few years, given that almost the whole population between 10 and 40 has already been using the internet for a while.
Credit card payment enjoys wide-spread popularity in South Korean B2C E-Commerce
South Koreans seem to be very open toward new technologies. As a result, B2C E-Commerce is very well established. Revenue in this area is expected to generate more than USD 20 billion by 2015. Credit card payments are very popular in this segment. More than 70 % of the total online trade volume is processed using this payment method. In addition to general revenue figures, the yStats.com "South Korea B2C E-Commerce Report 2011" also shows the most popular product categories in terms of market volume in 2010. These categories include "Fashion and fashion related products", "Household appliances" and "Travel arrangements". Mobile trade is another significant trend in B2C E-Commerce. In 2011, British super market chain Tesco opened a virtual grocery store, where users can purchase products using their smartphones.
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yStats.com has been committed to research up-to-date, objective and demand-based data on markets and competitors for top managers from various industries since 2005. Headquartered in Hamburg, Germany, the firm has a strong international focus and is specialized in secondary market research. In addition to offering reports on markets and competitors, yStats.com also carries out client-specific research. Clients include leading global enterprises from various industries including B2C E-Commerce, electronic payment systems, mail order and direct marketing, logistics, as well as banking and consulting.