MK Business News Logo
Monday, April 21, 2014 search icon
검색 search
Top Stories
Opinion Editorial
Subscribe to MK English Newsletter
World Knowledge Forum

Home > mk Business News 프린트 이메일 전송 리스트
S. Korea-based int’l shopping service sites post 2-fold sales growth during Black Friday
2012.11.26 18:44:42 | 2012.11.26 18:45:54
Black Friday, one of busiest shopping days in the US, has also prompted South Korean consumers to tap the shopping opportunity with the number of local online shoppers on international shopping service websites soaring during the shopping period.

[S. Korea-based int’l shopping service sites post 2-fold sales growth during Black Friday] 기사의 본문 이미지

Korean online retailer GS Shop’s Plein, its purchasing broker division for foreign products, saw its sales more than double during three days following Black Friday compared to the same period last year. Its sales on Black Friday alone surged over 200 percent on-year and sales on the ensuing weekend jumped 60 percent.

The phenomenal growth was also observed on local online e-commerce marketplaces that run the international shopping service business. Auction, the online retail website of eBay Korea, said the company posted a 30 percent on-year sales growth during the three days. The number is up 10 percentage points compared to the same period last week. Sales at another online marketplace 11Street went up 31 percent on-year, with the overall solid sales in fashion and sports categories.

“Korean consumers had received tax exemptions only when the combined payment of foreign product’s price and its shipment was 150,000 won ($138.30) or less. However, under the US-Korea Free Trade Agreement (FTA) that recently took effect, Koreans can enjoy higher customs-free shopping benefit with the $200 customs-free threshold applied for goods brought overseas. This gives local consumers impression that they are getting better deals for wider range of foreign products,” said a source in the domestic retail sector. “In addition, the all-time low won-dollar exchange rate this year has encouraged more consumers to benefit from Black Friday shopping.”

Black Friday is the day following the US holiday Thanksgiving Day, the last Thursday of November, and traditionally marks the starting of holiday shopping season. The US consumer’s spending on the day is estimated to account for 20 percent of the total annual spending.

[Written by Dong-woo Sohn - Sun-ah Kim / edited by Soyoung Chung]


[ⓒ Maeil Business Newspaper &, All rights reserved]

경제용어사전 프린트 이메일 전송 리스트

PDF list
Mon, Apr 21, 2014
Latest News
Rescuers extend search for Sewol pass..
LG to start power management IC busin..
Sewol ferry’s crew told passengers t..
Top 10 conglomerates’ reserve ratio ..
Lotte Shopping chief says he would st..
BOK head: Growth and employment quali..
Third mate at the helm before Sewol f..
‘Graphene separation membrane’ disc..
Sewol ferry death toll rises to 25
E1 seeks to take leap forward with sh..
Press Releases&Speeches
[Press Release] Venue for the 8th Kor..
[Press Release] Producer Price Index ..
Today Vocab&Phases
[04/21 Mon] account statement
paucity, stewardship

Terms of Use | Advertise With Us | Privacy Policy | Copyright Policy | Contact Us | Unauthorized collection of e-mail addresses disapproved
Copyrightⓒ 2009 Maeil Business Newspaper & MK Inc. All rights reserved.