Last month, Coupang's estimated credit and debit card payment amount fell by double digits from the previous month, while payment trends among major e-commerce companies in Korea were mixed.
On the 3rd, according to Mobile Index by IGAworks, an AI (artificial intelligence) data corporations, Coupang's estimated payment amount in Jul. was 4.3063 trillion won, down 10.9% from the previous month.
Coupang's estimated payment amount stood in the 4.8 trillion won range for two consecutive months—4.8596 trillion won in May and 4.8337 trillion won in Jun.—but the decline widened in Jul..
This is interpreted as the effect of a base created by high payment levels in May–Jun., along with summer vacation season demand shifting to offline categories such as travel and dining.
Among major e-commerce companies in Korea, Gmarket and 11Street showed diverging trends.
Gmarket's estimated payment amount in Jul. was 278.4 billion won, down 1.9% compared with about 283.7 billion won in the previous month. Gmarket's payments fell sharply from 431 billion won in May to the 200 billion won range in Jun., and the decline continued in Jul..
In contrast, 11Street's estimated payment amount was 274.4 billion won, up 1.3% from the previous month. It maintained an upward trend for three consecutive months since Apr..
Although Coupang's payment amount fell sharply, the gap with competitors remained large. Coupang's estimated payment amount in Jul. was about 7.8 times larger than the combined payments of Gmarket and 11Street.
These figures are estimates based on credit and debit card payment data and may differ from each company's actual revenue. Naver Plus Store was not included in the comparison.