The number of establishments in the retail sale via mail order houses or internet in South Korea has shown a steady increase from 2013 to 2023, rising from 12 units to 25 units. Notably, from 2020 onwards, the growth rate began to decelerate; in 2023, the year-on-year growth was 4.17%. Over the last five years, the Compound Annual Growth Rate (CAGR) was 3.55%. From 2024 to 2028, forecasted data suggests a projected growth rate of 10.39%, with an average annual growth rate (5-year CAGR) expected to be around 2%
Future trends to watch:
- Continued moderate growth in the number of establishments.
- Potential market saturation influencing slower growth rates.
- Technological advancements and digital integration influencing new entrants and competitive dynamics.
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