Market Kurly "74% Growth in Sales Revenue of Small and Medium-Sized Merchants in the First Half of This Year"

[Asia Economy Reporter Yuri Kim] Market Kurly announced on the 24th that the sales of small and medium-sized merchants supplying products to Market Kurly in the first half of this year increased by 74% compared to the same period last year. All companies ranked in the top 10 for sales growth rate were also small and medium-sized merchants.

Market Kurly stated that, based on an analysis of the sales of product supply partners in the first half of this year, the sales of small and medium-sized merchant partners grew by 74% compared to the same period last year. This figure is also a 50% increase compared to the annual sales of small and medium-sized merchants who joined Market Kurly in 2019, before COVID-19.

Although small and medium-sized merchants have experienced severe sales declines due to COVID-19, those who joined Market Kurly have shown sales growth and are expanding. Among approximately 2,000 Market Kurly vendors, the top three in first-half sales were all small and medium-sized merchants. The first place was Doum Food System, which handles Kurly’s representative products such as Shine Tomato and Joseon Hyangmi. Rokya, which handles agricultural products including Farmer’s Flower, started to help flower farms that lost sales channels due to COVID-19, took second place.

All of the top 10 companies with the highest sales growth rate compared to the first half of 2020 were also small and medium-sized merchants. Among them, six partners joined after 2020 during the COVID-19 period. The average sales growth rate of the top 10 companies is close to 860% compared to the first half of last year. The company with the highest sales growth rate was MyB, which joined in the first half of last year and showed a 178-fold increase in sales compared to the same period the previous year. They launched diet lunch boxes, Home Michelin lunch boxes, tteokbokki, ice cream, and other products under the brand "MyBimil," showing more than a 50% increase in sales compared to the second half of last year. Among the small and medium-sized merchants who joined Market Kurly, 25% have already achieved sales in the first half that exceed their total sales for the previous year.

The number of new partners at Market Kurly in the first half of this year doubled compared to the first half of 2020. Among them, 98% are small and medium-sized merchants. With the addition of these new small and medium-sized merchants, the proportion of small and medium-sized merchant clients among all Market Kurly partners rose to 96.2%, up 0.4 percentage points from 95.8% at the end of last year.

Kim Seul-ah, CEO of Market Kurly, said, "All the partners who initially joined Market Kurly were small and medium-sized merchants, and they are still working hard together to present good products to customers." She added, "We will continue to support small and medium-sized merchants who have always been with Kurly’s growth so that they can overcome difficulties caused by COVID-19."