By Lee Hyo-sik
Coupang, Korea’s premier social commerce site, has led the field in mobile commerce here for more than two years because an increasing number of consumers are buying a wide range of goods using its smartphone app.
According to market research firm Nielsen KoreanClick, Coupang's app was the most used by online shoppers from July 2012 through September 2014. In September alone, 6.14 million people bought diverse products using the firm’s app.
The value of goods and services traded on mobile platforms in Korea reached 3.88 trillion won in the third quarter, up 100 percent from the same period last year, according to Statistics Korea. The statistical office expects that the mobile shopping market will continue to expand at an explosive rate for the foreseeable future, presenting lucrative business opportunities for Coupang and other e-commerce sites.
“Coupang has been able to solidify its position in mobile commerce on the back of its innovative platform and customer-centered services,’’ said company marketing director Choi Jae-hoon. “We provide a convenient and timely mobile platform so that our customers can buy products using their smartphones anytime and anywhere.”
Coupang was the first e-commerce site to introduce a mobile-based shopping environment, said Choi. “The company launched a swipe or flick service with its mobile app for the first time in the mobile shopping industry. This means customers can quickly swipe a finger across a screen and receive information instantly.”
It has also strengthened its product recommendation services. Using the customer's browsing history as a guide, the company provides tailored information.
Coupang, founded in July 2010, launched its mobile shopping service in August 2011. According to the company, more than 10 million people have downloaded its smartphone app and in August this year, the firm accounted for 75 percent of the country’s mobile commerce transactions.