AliExpress and Temu Dominate Korean E-Commerce Growth Chart
In a dynamic year for the South Korean e-commerce landscape, AliExpress and Temu emerged as the frontrunners, securing the first and second positions in new user additions, according to a recent survey.
Growth Rankings:
- AliExpress led the growth charge with a monthly average of 3.71 million new users and an active user base reaching 7.07 million in November.
- Temu, entering the Korean market this year, closely followed with a monthly user count of 3.54 million, securing the second spot in growth rankings.
- The combined monthly average of new users for both apps reached an impressive 7.25 million.
Market Strategies:
- AliExpress implemented an AI-based verification system to combat counterfeit products, solidifying its commitment to market integrity.
- The platform pledged a 100% refund within 90 days for any product found to be fake, eliminating the need for supporting documents.
- AliExpress announced a significant investment of 100 billion Korean won and initiated a logistics service plan, showcasing a serious commitment to the Korean market.
Temu’s Rapid Rise:
- Temu, in just over four months in the Korean market, experienced robust growth after shifting its expansion focus from traditional Western markets to the Asian market.
- Between September 25 and October 9, 2023, Temu achieved 399,000 downloads in Korea, claiming the top position smoothly.
- Temu secured the first rank in daily downloads on both iOS and Google Play shopping apps for 65 days out of the 93-day period from August 1 to November 2, surpassing industry giants like AliExpress, SHEIN, and 11Street.
Implications for the Korean Market:
The dominance of AliExpress and Temu signifies a shift in consumer preferences, with a growing reliance on innovative platforms. AliExpress’s investment and logistics plan demonstrate a commitment to long-term success, while Temu’s rapid rise underscores the appeal of its strategic entry into the Asian market.
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Post time: Dec-21-2023