Among APAC countries, South Korea boasts high digital buyer penetration, strong ecommerce market
Consumers in South Korea will spend nearly $15 billion this year on retail purchases via mobile device, eMarketer estimates. That amounts to 37.5% of retail ecommerce sales and 4.2% of total retail sales in the country, according to eMarketer’s latest forecast of retail sales around the world.
Mobile commerce is growing far faster than sales on digital as a whole or retail as a whole-26.5% this year, vs. 11.0% growth in retail ecommerce and 1.8% growth in total retail sales.
Just under three-quarters of internet users in South Korea will make at least one retail purchase via digital during the calendar year, eMarketer estimates. The number of digital buyers is growing slowly, and penetration will reach 78.9% of internet users in 2019, the end of eMarketer’s forecast period.
Currently, South Korea has the third-highest digital buyer penetration among internet users in Asia-Pacific, after Japan and Australia, and the fourth-largest digital buyer population in the region by absolute numbers, after China, India and Japan.
South Korea’s ecommerce market is also strong in terms of sales relative to the region. eMarketer estimates retail ecommerce sales in South Korea are the third-largest, after China and Japan. And as a percentage of total retail sales, South Korea does even better, coming in second after China alone.
eMarketer’s forecasts and estimates are based on an analysis of quantitative and qualitative data from research firms, government agencies, media firms and public companies, plus interviews with top executives at publishers, ad buyers and agencies. Data is weighted based on methodology and soundness. Each eMarketer forecast fits within the larger matrix of all its forecasts, with the same assumptions and general framework used to project figures in a wide variety of areas. Regular re-evaluation of available data means the forecasts reflect the latest business developments, technology trends and economic changes.
