In South Korea, mobile shoppers exceed 20 million

South Korea: M-commerce grows

By beSUCCESS

In South Korea, mobile shoppers exceed 20 million

recent survey has shown that Koreans using mobile shopping applications has grown such that there are now more mobile shoppers than there are KakaoGame players in Korea.

According to Rankey who conducted the survey, the number of shopping app users totaled 21.63M, as of January 2014. This figure is 2.7M higher than the number of KakaoGame Play users and represents a significant shift, considering that there were about 7M more KakaoGame players than mobile shoppers just a year ago.

60,000 Android smartphone users were surveyed for the report, to analyze the number of net number of users for both shopping apps and KakaoGame.

A Rankey official said, “This survey showed that the user base of shopping apps has expanded sharply over the past year.”

As social commerce sites continue to gain popularity with their mobile traffic exceeding those of open markets, mobile competition is increasing in the online shopping industry in Korea, but also represents that there are still great opportunities to be had for newcomers in the space.

In its previous e-commerce report, Rankey revealed that WeMakePrice was ranked No. 1 in terms of growth rate among mobile apps, with the number of shopping–related apps which were included among the top-100 apps, estimated at 15.

 

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: