A recent report by the Korea Economic Research Institute (KERI) has unveiled the competitive dynamics in the global e-commerce sector.
The report identifies Amazon (USA), JD.com (China), Alibaba (China), Pinduoduo (China), and Coupang (South Korea) as the top five e-commerce companies by revenue.
Notably, Chinese e-commerce giants JD.com, Alibaba, and Pinduoduo (the parent company of Temu) have achieved an astounding average annual revenue growth rate of 41.0%, securing three spots among the global top five in e-commerce revenue rankings.
KERI's analysis highlights a significant shift in the e-commerce landscape, marked by AliExpress's entry into the South Korean market in 2018. At that time, the global e-commerce market was valued at $2.9 trillion. Within a few short years, the market has nearly doubled in size, reaching a staggering $5.8 trillion, driven by the rapid growth and increasing influence of online shopping worldwide.
Competitive Dynamics in South Korea
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