Coupang Eats' Pursuit Grows Stronger Than Baemin's Acceleration

Last Month's MAU: Baemin at 22.29 Million, Coupang Eats at 11.25 Million
Gap Continues to Narrow

Baedal Minjok, the leading player in the food delivery app market, has been pursuing an aggressive user expansion strategy, but has not yet managed to fend off the strong pursuit of Coupang Eats. Since the second half of last year, the monthly active user (MAU) gap between Baemin and Coupang Eats has narrowed every month. Last month was no exception, even as Baemin ramped up its offensive by boosting takeout orders, strengthening subscription benefits, and offering more options tailored for single-person meals.

According to Mobile Index, a data platform operated by IGAWorks, as of last month, Baemin, Coupang Eats, and Yogiyo recorded MAUs of 22.29 million, 11.25 million, and 4.71 million, respectively. Compared to the previous month, Baemin and Yogiyo saw declines of 0.5% and 6.2%, respectively, while Coupang Eats alone posted a 1.3% increase.

Once again, Coupang Eats' steady growth stands out. Since surpassing the 10 million user mark in January of this year, Coupang Eats has maintained uninterrupted growth. So far this year alone, 1.62 million new users have joined. Compared to the same period last year, the user base has increased by 3.92 million, representing a 53.5% growth rate. The gap between Coupang Eats and Baemin, which was close to 15 million a year ago, has continued to shrink and is now down to the 11 million range. Last month, Coupang Eats' users accounted for 50.5% of Baemin's user base, marking the first time this figure has exceeded 50%.

In contrast, Baemin, the market leader, has continued to maintain a user base in the 22 million range, with only minor fluctuations. This is a disappointing result considering Baemin's continued investment in service differentiation. To boost takeout orders, Baemin launched a marketing promotion worth approximately 30 billion won in April, and in June, it partnered with the online video service Tving to upgrade its subscription service, "Baemin Club." The company also introduced "Hangureut," targeting the demand for solo dining among single-person households. This category features food options suitable for single servings and removes the minimum order requirement. Baemin has also begun to aggressively offer exclusive menu items from major franchises that can only be ordered through its platform.

While concerns about Baemin's position are spreading, the general view in the industry is that Coupang Eats, despite closing the gap, cannot afford to be complacent. Its growth rate is showing signs of slowing. Last month, the number of users increased by 140,000 compared to the previous month, a smaller gain than the 660,000 increase seen in May. Even during the same period last year, the monthly increase was 350,000. Coupang Eats' main growth driver has been its free delivery service for the 15 million Coupang Wow membership base, but there are growing opinions that this influx is not as strong as it once was.

In particular, if the currently discussed commission cap becomes a reality, it is expected that Coupang Eats' ability to fund free delivery through commission revenue will be weakened. An industry insider commented, "In the second half of the year, a number of variables could come into play, including the commission cap and exclusive contracts between platforms and franchises. We will need to continuously monitor how these factors will impact the market."