April 3, 2020
Korea′s Coupang makes name for itself in e-commerce industry   쿠팡의 성장과 미래

Korea′s Coupang makes name for itself in e-commerce industry 쿠팡의 성장과 미래

On this edition of Industry Insight…]
We take a look at a local e-commerce startup…. that has broken away from the rest… to become
one of the country′s leading online retailers. It′s called Coupang [ ],… and its innovative
strategies and breakneck growth have attracted investors from home and abroad.
Connie Lee has more. It′s a click, click here… and a click, click there
and whether it′s a box of diapers,…. a bag of coconut flakes… or a new winter
jacket,… you can get the item delivered right to your
door, before the end of the day. It′s all done through Coupang,…
which promotes itself as the country′s leading e-commerce company.
The four-year-old company has grown quickly In 2011, it went from a million subscribers…
and 20-million U.S. dollars in transactions… to 25-million subscribers and more than 180-million
in transactions today. Most shoppers use its mobile app… which
was the number one shopping app last year, beating out competitors like WeMakePrice and
TicketMonster. Coupang started out as a site offering daily
deals… by Bom Kim… but is now a full-fledged e-commerce company with more than 2-thousand
employees,… who enjoy an open-office space in Seoul that looks like it belongs in Silicon
Valley. The Korean start-up has lured U.S. investors…
and most recently raised 300-million from a group led by BlackRock.
Investors point to Coupang′s same-day service model, mobile expertise and online offerings
as the features that make it one to watch. Coupang says it knows how to lure in the customers,
especially to its mobile app. “You may think the secret is simply behind
the design and layout. But in fact, there′s a lot of technology and research that goes
into this. We were able to keep up with that.” The company also says there′s nothing like
its “end-to-end” customer service, which involves using its own delivery personnel… including
the “Coupang Man.” The Coupang Man does not fly, but his services
are compared to that through the company′s so-called “Rocket Delivery.”
This may be the key to getting repeat customers. “I went from buying necessities, and grew
into buying everything.” I met with one avid user
“A lot of the times I′m not at home when they′re delivering something.
They take a photo and then send me a text message: ′This is where we left it.′
So I′m 100-percent sure I′m going to be getting the item, which hasn′t been the
case when I′ve used other services.” Coupang has even given new life to businesses
that have partnered with it. This online shopping mall,… which specializes
in trendy, feminine pieces,… has seen its annual sales increase 20-fold
after engaging Coupang to sell its items. “The marketing and promotion of my brand through
Coupang was incredible… led me to sell 10-thousand items in a day. / I′ve now expanded my business
and created another brand to go into malls.” As

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