SEOUL - Gmarket, a major online shopping platform owned by Shinsegae Group, recorded the highest customer spending among online malls in the second quarter of 2024, according to recent industry data.
According to Yonhap News Agency, the average monthly expenditure per Gmarket customer was 167,202 won (approximately US$121) during the April to June period. This figure represents the highest spending per customer and was calculated by dividing the total estimated payments received by each platform by its number of active users. Following Gmarket, Tmon Inc. reported an average spending of 163,754 won per customer, while Coupang Inc. saw an average of 141,867 won.
The data also highlighted a significant disparity between South Korean platforms and their Chinese counterparts, which have been trying to increase market penetration through aggressive marketing. Alibaba Group’s AliExpress and PDD Holdings' Temu posted considerably lower average expenditures of 34,547 won and 7,110 won, respectively, over the same period.
An industry analyst commented on the performance of the Chinese platforms, noting that "Low estimated expenditures per customer suggests a higher proportion of users are merely visiting the platform rather than intending to make a purchase." This observation indicates that while Chinese platforms are attracting curiosity, they struggle to convert that interest into substantial sales, especially in comparison to South Korean online malls.