What is Coupang? Coupang Review

Coupang Development

Initially, Coupang tried to provide daily service transactions, but soon expanded to sell physical goods with partners. Today, Coupan sells a diverse range of goods, including: baby products, fashion, beauty products, consumer goods, home goods, decoration, books, toys, sporting goods, electronics, tickets, travel and cultural event planning.

Coupang entry conditions

Enterprises registered in China, Hong Kong, Macao and Taiwan;

·Already engaged in international e-commerce and familiar with China Customs exit requirements;

Provide business license, CEO passport, bank account statement copy, if you open a store on Amazon, provide Amazon URL, seller business ID copy;

·Have a receiving account in China, Hong Kong, Macau, Taiwan, the United States or South Korea;

·Must be able to receive monthly remittances;

The seller should cooperate with courier companies that can provide cross-border mailing services, provide buyers with delivery tracking numbers, and provide buyers with return and exchange services.

Coupang Open Categories

Consumer electronics, electrical appliances, computer and mobile phone products, fashion, beauty and skin care products, kitchen supplies, furniture, sports, pet supplies, and others.

Coupang entry fee

No initial configuration fee & platform monthly rent;

Commission: Product commissions are charged at 5%-10% of monthly sales according to different product categories; commissions are settled monthly and we will deduct them from the seller's monthly sales of products;

For example, in the household electronic digital category, air conditioners, cameras, and flat-screen TVs account for 5%, clothing accounts for 10%, cosmetics accounts for 9%, and electronic games accounts for 6%.

Settlement date: The settlement date is calculated based on the time when the customer places the final payment for the order

Hot selling category commission

Coupang logistics issues

Logistics method: The seller can choose the logistics method by himself;

Logistics time: preferably within 3-7 days. If the time is longer, please indicate it on the listing;

Logistics costs: paid by the seller, who can follow up on the actual logistics time and freight setting template in the background.

Advantages

Service-oriented: One-on-one service from e-commerce consultants to help solve any problems and increase sales (supports Chinese services);

Customer service assistance: Professional and efficient customer service team helps you solve orders or customer problems in a timely manner;

Other things to note about Coupang

System connection method, ERP: It is best to use API;

Listing upload: API or CSV file upload;

Product description requirements: Korean;

Product pricing currency: Korean Won;

SKU quantity requirement: None;

Account opening time: If all the information is complete, it will be opened within 1 week.

Coupang's financing situation

In May 2014, Coupang received $400 million in Series B funding from Sequoia Capital and Blackstone. Funding amount: $400 million

In 2015, SoftBank invested $1 billion in Coupang.

In November 2018, Coupang received an additional $2 billion investment from SoftBank Vision Fund.

Coupang Development History

In August 2010, Coupang was registered in the United States and officially began operations.

In 2011, Coupang released apps for iPhone and Android. As of August 2013, mobile phone users accounted for more than half of the company's total sales and about 70% of the total website traffic.

As of May 2012, Coupang had approximately 700 employees, 12 million users, and 25,000 merchants.

In June 2011, won the Customer-Oriented Management e-Commerce (e-Biz) Award (Korea Industry Association)

In October 2012, Coupang was included in Business Insider's list of the world's 100 most valuable private technology companies.

In 2013, Coupang's annual sales exceeded $1 billion.

In April 2016, he was selected as one of Forbes' "Top 30 Global Innovators of 2016".

In December 2017, revenue exceeded US$2.5 billion, a year-on-year increase of 40%, and sales in the fourth quarter increased by 60% year-on-year.

In 2019, Coupang launched a next-day delivery service, which means that if you place an order on the platform that night, you can receive the purchased items at 7 am the next day.

In June 2020, Coupang ranked second on CNBC's 2020 Disruptor list.