The value of retail sales via mail order houses or the internet in South Korea experienced fluctuations from 2013 to 2023. After a notable drop in 2014 (-37.24%), the market rebounded with a significant increase in 2018 (+185.1%). By 2023, it stood at 5.0704 trillion South Korean Wons, reflecting a 5.42% year-on-year increase. The five-year CAGR from 2018 to 2023 was 3.37%, showing steady growth despite slight variations.
Future trends to watch for include:
An expected growth rate of 18% over the next five years.
Advancements in e-commerce technologies and logistics efficiencies contributing to market expansion.
Changes in consumer behavior towards more online shopping driven by convenience and product variety.