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Food and drink e-commerce has registered double-digit growth in South Korea during the past years and its performance gained further strong momentum in 2020. When COVID-19 first hit the country in February, consumers stockpiled food and drink products to prepare for a potential lockdown and online orders increased, resulting leading e-commerce players to reach the maximum delivery capacity in March.
Middle-aged consumers who traditionally shopped for grocery items in physical stores emerged as one of major consumer groups in the e-commerce channel. Since their longstanding belief that shopping in offline stores is the most convenient gave way to the price benefit and fast delivery of e-commerce, a large portion of the new consumers is expected to stay loyal to online grocery shopping malls in the short term.
Naver Corp entered the well-established market of food and drink e-commerce in 2020 by launching an online grocery shopping service called Jangbogi. The service allows consumers to place orders for household essentials from Naver’s online shopping platform and delivers orders from nearby supermarket outlets of retail partners such as Homeplus, GS The Fresh and Hanaro Mart.
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Discover the latest market trends and uncover sources of future market growth for the Food and Drink Internet Retailing industry in South Korea with research from Euromonitor's team of in-country analysts.
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If you're in the Food and Drink Internet Retailing industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.