Coupang saw its revenue rise by $12 billion last year, marking a 91 percent jump from 2020. Such measures led to a drastic surge in the e-commerce market. The COVID-19 pandemic caused people to social distance and stay home. Since its inception, the Coupang now has over 100 fulfilment and logistics centers in over 30 cities this includes Beijing, Los Angeles, Seattle, Seoul, Singapore, Shanghai, and Silicon Valley. Furthermore, Coupang Logistics launched back in January, which now handles Coupang deliveries. Last December, the company launched its streaming service, Coupang Play, after acquiring assets of Singaporean streaming service HOOQ. The company also said that its Rocket Fresh Same-Day Delivery helps customers with following COVID-19 guidelines by not having to go out and shop as much outside.Īlongside its main e-commerce systems, Coupang offers additional services such as Coupang Eats, a food-delivery service, and MyStore, which allows small businesses to sell on the platform. If customers order vegetables, fruit, meat, dairy or other fresh goods before 10 AM, Coupang delivers them by 6 PM the same day. Rocket Fresh Same-Day Delivery focuses more on grocery items. Last year, Coupang launched another component to its Rocket Delivery service. With this specific service, customers who order any item by midnight will receive it by 7 AM the following morning. In contrast to Amazon, the company also offers what’s known as Dawn Delivery.
With millions of items to choose from, customers are able to receive their items on either the same day or the next day through Rocket Delivery, and it’s available to anyone who has a Rocket Wow Club membership the membership only costs 2,900 KRW (roughly around $2.60) per month and is free for the first 30 days. Founded in 2010 by Korean-American billionaire Bom Suk Kim, the Seoul-based company primarily focuses on its Rocket Delivery service and Rocket Wow Club membership, which is similar to Amazon Prime in a way. What is Coupang?Ĭoupang is South Korea’s largest e-commerce company. The company has seen much growth over the last year due to the COVID-19 pandemic and continues to provide fast service for its customers. It also gives access to South Korea streaming platform Wavve, while the premium plan offers access to a wide range of subscription-based services including music streaming service FLO.Coupang (NYSE: CPNG) is a South Korean e-commerce company that dominated the New York Stock Exchange after going public last week. Priced at 4,900 won, the more affordable version of the monthly subscription-based service offers free shipping to members regardless of the product’s price, though benefits are subject to change in the future, according to 11st. On the same day the Amazon Global Store was launched, SK Telecom, which operates 11st, also unveiled the “Universe Pass Mini” and “Universe Pass All”
But foreign nationals living in South Korea can use either their passport number or alien registration number instead.Īfter signing on to the platform, you can either search for a product you saw on Amazon’s US website or go to the main page for the Amazon Global Store to check out special deals and recommended items.īefore your selected item goes into the basket, the website will show the price in Korean won and estimate how long it will take to be delivered, as well as how much the total cost will be including a customs clearance fee - which occurs when your order is worth more than $200, or $150 if certain items such as health supplements are included, for instance. You also need a personal customs clearance code, a 13-digit number starting with a P, for online international shopping. Lee Sang-ho, CEO of 11st, said, “The launch of Amazon Global Store on 11st brings together the best of 11st’s local know-how and Amazon’s global retailing experience.”Īmazon Global Store was launched jointly with 11st, which means you have to sign up for 11st to place an order. “Starting today, customers in Korea will be able to enjoy the most convenient way to shop global products, with free international shipping from the US,” said Somana Konganda, director of Amazon Global. It also makes 11st the country’s “most extensive bookstore,” with millions of books now available. Though the service has been in operation in 12 other countries, it marks the first time Amazon is working with a local company for the launch. The move has made it easier to buy tens of millions of products available on Amazon’s US website, ranging from PCs, toys and fashion to electronics, with free shipping on orders over 28,000 won ($24). Global online retailer Amazon and South Korean e-commerce platform 11st launched the Amazon Global Store on 11st on Tuesday.