Four months after a sweeping data breach that put its dominance in question, e-commerce giant Coupang has held, if not tightened, its grip on the country's online retail market, data showed Tuesday.
According to IGAWorks' Mobile Index, Coupang's monthly active users reached 35.03 million in March, up from 33.64 million in February and 34.01 million in January. The figures surpass even the 34.85 million and 34.42 million recorded in December and November, when the crisis was at its most acute after Coupang disclosed on Nov. 29 that 33.7 million customers had been exposed.
The recent figure dwarfs domestic rivals like 11Street, Naver’s Plus Store and Gmarket, which tallied 8.15 million, 7.77 million and 6.81 million monthly users, respectively. Chinese platforms Temu and AliExpress, each hovering around 7 million, are also making inroads.
In new app installs, Chinese platforms set the pace, with Temu topping the entire shopping app category with 749,320 downloads in March, while AliExpress added 369,020. Coupang registered 461,270, below Naver Plus Store, which led domestic platforms with 674,100 new installs.
The speed of the recovery points to something structural, industry officials said, given how deeply ingrained Coupang's dawn delivery has become in the daily lives of Korean households. "Chinese platforms may have pulled in new customers with low prices, but retention is a different game entirely," one industry official said.
Spending followed a similar trajectory. According to WiseApp Retail, estimated card payments recovered to 5.71 trillion won ($3.8 billion) in March, a 12 percent jump from February.
The rebound reversed three consecutive months of decline that followed the breach disclosure, from 5.61 trillion won in December to 5.46 trillion in January and 5.11 trillion in February, though still shy of the prebreach peak of 5.9 trillion won recorded in October.
With its user base nearly restored, Coupang has been pressing ahead with its nationwide logistics ambitions.
At an exhibition earlier this month, the company introduced the advanced technologies powering its delivery network, such as autonomous guided vehicles, self-driving mobile robots and automated packaging systems, while reiterating its goal of extending Rocket Delivery to all corners of the country by 2027.
"We are building a sustainable logistics ecosystem that raises the quality of life for customers, supports small merchants and local economies,” a Coupang official said. "We will continue to invest and innovate to usher in an era where all citizens can enjoy Rocket Delivery by 2027."
minmin@heraldcorp.com
