With the Endemic, Overseas Travel Increased... Last Year's Online Shopping Transaction Amount Up 8.3%

Last Year's Transaction Amount: 227.347 Trillion Won

With the endemic phase underway, overseas travel surged, leading to an 8.3% increase in online shopping transaction volume last year.

According to the '2023 Annual Online Shopping Trends' released by Statistics Korea on the 1st, the online shopping transaction volume last year was 227.347 trillion KRW, up 8.3% from the previous year.

On the 22nd, ahead of the Christmas holiday, travelers visiting Incheon International Airport Terminal 1 are moving to depart. Photo by Jinhyung Kang aymsdream@

The establishment of the endemic phase significantly influenced the sharp rise in overseas travel. Transactions for travel and transportation services reached 24.0912 trillion KRW, a 44.0% increase from the previous year, while cultural and leisure services also rose by 19.8% to 2.8834 trillion KRW. Amid high inflation, transactions for food and beverages increased by 12.1% to 29.869 trillion KRW. E-coupon services also grew by 34.9% to 9.882 trillion KRW. On the other hand, sales of computers and peripherals decreased by 4.6%, home appliances and electronics by 1.5%, and sports and leisure goods by 2.1%.

By product category, the composition ratio of online shopping transaction volume was highest for food and beverages (13.1%), food services (11.6%), and travel and transportation services (10.6%). Mobile shopping transaction volume accounted for 167.8276 trillion KRW, up 7.0%.

At the end of last year, travel and transportation services also led the growth in online shopping. In December last year, online shopping transaction volume was 20.3574 trillion KRW, an increase of 7.7% (1.4598 trillion KRW) compared to the same month the previous year. By product category, travel and transportation services increased by 21.8%, e-coupon services by 35.7%, and food and beverages by 9.9%. Mobile shopping transaction volume was 15.2515 trillion KRW, up 8.9% (1.2443 trillion KRW) from the same month last year, and the share of mobile transactions rose by 0.8 percentage points to 74.9% compared to the same month the previous year.