Coupang, 145% Increase in New Marketplace Sellers in the First Half of the Year

Strengthening New Programs to Support Small and Medium Businesses, Including Instant Settlement Service and Rocket Partnership

[Asia Economy Reporter Kim Cheol-hyun] Coupang announced on the 5th that the number of new sellers joining its open marketplace, 'Marketplace,' in the first half of this year increased by 145% compared to the same period last year. The number of new sellers increased by more than 100% in most categories, with a maximum growth rate of 293%. In particular, the fashion, books, and household goods categories showed high growth rates compared to the same period last year.

The new sellers joining Coupang Marketplace range from one-person businesses and small and medium-sized enterprises to large corporations, representing a wide variety of company sizes. Coupang explained that programs actively supporting seller growth are generating positive responses. Coupang cited the large customer base, a simple system that reduces time and costs, and programs supporting small and medium-sized merchants as reasons for the rapid increase in new Marketplace sellers. Especially, Coupang’s customer base provides a favorable sales environment for new sellers who find it difficult to secure customers in the early stages of joining. The simple operation system and customer-tailored product recommendation features are among the reasons new sellers prefer Coupang.

Coupang Marketplace helps reduce the operational burden on new sellers unfamiliar with online sales and allows them to focus more on product development through easy onboarding that takes less than a minute and a convenient operation system for product registration and management. Additionally, Coupang’s shopping algorithm automatically recommends products by analyzing customers’ purchase experiences such as search terms and purchased items. Since products are automatically exposed to target customers, sellers can efficiently manage advertising costs. Furthermore, fees integrate costs such as operating expenses for the seller’s own mall, payment fees, portal linkage fees, and customer service management fees.

In the first half of this year, Coupang also introduced new seller support programs for small and medium-sized merchants. Recently, in collaboration with Kookmin Bank, it launched the 'Instant Settlement Service,' a financial support program that allows sellers to receive sales proceeds in advance without waiting until the payment due date. The 'Rocket Partnership,' which enables Rocket Delivery, was also introduced earlier this month.

Tiffany Gonzalez, Senior Director of Coupang Marketplace, said, "Coupang Marketplace is equipped with innovative technologies and various support programs for sellers’ sales growth, and sellers can enjoy all the benefits provided by Coupang regardless of company size or product category," adding, "We hope more sellers will start selling on Coupang Marketplace in the second half of the year and seize opportunities for business growth."