Coupang is ranked the world's fastest growing retailer for two consecutive years

According to a report recently released by Deloitte Korea, South Korean e-commerce company Coupang was ranked as the world's fastest-growing retailer for the second consecutive year, and it also jumped to seventh place in the ranking of global e-commerce companies.

Coupang is an e-commerce company headquartered in Seoul, South Korea. Its founder is Bom Kim and the company was founded in 2010. Coupang 's business model is similar to Amazon's. Coupang has been committed to investing in warehousing and flash sales, and has been working hard to shorten delivery time. Currently, most products can be delivered the next day or even the same day.

The company broke even in 2012. The report shows that from fiscal 2015 to fiscal 2020, Coupang grew by an average of 66% per year, three times the growth rate of the Korean e-commerce market , and ranked first among the world's 50 retailers with an annual growth rate of 102.6% in 2021. The top four fastest-growing retailers also include India's Reliance Retail, the US home furnishing e-commerce Wayfair, and Vietnam's Mobile World.

It is reported that in 2021, Coupang ranked 198th among the world's 250 dealers. It jumped to 98th in just one year, which is the first time it has entered the top 100.

In addition, Coupang ranks seventh among global e-commerce companies. The top six are Amazon, JD.com, Vipshop, Qurate Retail Group, Wayfair, and Otto.

In addition, according to foreign media reports, Coupang has set up an office in the Chinese border city of Yanji, aiming to further diversify its overseas direct purchase services. Currently, about 230 employees work in the Yanji office.

It is reported that China is the second country after the United States where Coupang launched overseas direct purchase services. According to data from the Korean Statistics Bureau, "Made in China" products accounted for 63.6% of the goods purchased directly by Koreans from overseas shopping websites last year.

Although Yanji is a small city compared to other Chinese cities with Coupang offices, it has a large population of ethnic Korean people who are fluent in Korean and understand Korean culture, which was one of the biggest reasons why Coupang chose to set up an office in this city.

Coupang

E-commerce