What is Gmarket? Gmarket Review

Platform Advantages

1. High-quality traffic covering South Korea

South Korea has the fastest Internet speed in the world. More than 64% of Korean consumers use Gmarket for online shopping. The vast majority of buyers are millennials aged 20-30. Gmarket has more than 20 million members and 8.45 million monthly unique visitors. Now it is using various marketing and communication strategies to target and meet the needs of buyers. High-quality traffic from the Korean market continues to flow;

2. Continuously growing order amount

Gmarket has the largest total e-commerce transaction volume and the largest transaction volume in South Korea, and is in a state of continuous growth. Entering the platform not only allows you to easily open the door to the Korean market, but also satisfies you with the average order value, gross profit margin, order amount, etc. The Korean e-commerce market has never been open to Chinese investment, and there are no Chinese sellers, so the competition pressure is small. Whoever can enter the market first will seize the opportunity;

3. Rich and diverse hot-selling categories

Gmarket is the largest e-commerce platform in South Korea, with a wide range of categories, including more than 6,000 products. The hot-selling categories are travel and transportation, clothing, 3C, food, household goods, cosmetics, etc., among which the growth rate of cosmetics is 46.7%, the growth rate of food and beverages is 29.5%, and the growth rate of household appliances is 21.9%, which gives sellers a wide range of categories to choose from and more ways to make profits.

4. No.1 in Customer Satisfaction

In 2017, Gmarket's customer satisfaction index was 77% and its brand competitiveness index was 76%, ranking first among all Korean e-commerce platforms. With excellent reputation and extremely high customer usage rate, we will ensure your great sales in Korea.

flow

eBay Korea owns two major platforms, Gmarket and Auction, and ranks first in the total market share in the Korean e-commerce market. The Gmarket e-commerce platform has a population coverage rate of 649.

Hot selling categories

Clothing, shoes and hats/home appliances and electronic products/maternal and child products/household items/leisure sports

Platform Features

Self-delivery mode. At the same time, the system can be bound to Gmarket and Auction platforms, and the product can be sold on both platforms at the same time by listing it once

Main categories

Travel and transportation, clothing, 3C, food, household goods, cosmetics, others

Not for sale

Pharmaceuticals, tobacco and alcohol, vision correction products, knives and guns, chemicals and drugs, military uniforms and equipment, wild animals and plants, and obscene materials

Restricted categories

Health products, food, cosmetics, medicines, medical devices, broadcasting and communication equipment, game records and videos

Entry requirements

1. Have the company's business license in PDF or JPG format

2. WORLD FIRST receiving account in PDF or JPG format (the bank account name must be consistent with the name on the business license)

3. Sellers must have operations staff who understand Korean

4. Legal person's passport in PDF or JPG format

5. Other cross-border e-commerce platform connections (operating for at least 1 year) are optional requirements

Korean gmarket entry process

1. Apply and submit documents;

2. Preliminary review of materials (2 working days);

3. Platform review;

4. It will take 10 to 12 working days to complete the settlement.

Advantages of entering Korea's gmarket

1. Platform handling fee: 7%~13% Merchants will be invited to participate;

2. No listing fee;

3. Free shop rent.

China Cooperation

In 2012, GOU4U officially started cooperation with the largest wholesale source website in Asia, Korea's Gmarket, and became Gmarket's designated partner website in China! Gmarket's Korean official website designated China partner shopping website!

In December 2012, Gmarket and China's fashion online shopping platform Xiu.com announced that their one-stop Korean fashion shopping platform gmarket.xiu.com was officially launched. The website will directly recommend brands and products that best represent Korean fashion trends to Chinese consumers.

Historical Development

Gmarket was founded in 1999 by Young Bae Ku under the names "AuctionWeb" and "ShoppingMall".

On June 6, 2006, Yahoo! acquired a 10% stake in the company.

On June 29, 2006, the company made its initial public offering of 9,119,565 American depositary shares on NASDAQ. The shares were quoted under the ticker symbol GMKT. The initial price at that time was $15.25. [1] The acquisition by eBay Inc. has removed these shares from the market.

In June 2009, eBay acquired Gmarket for approximately $1.2 billion. The subsidiary is now known as eBay Korea Co., Ltd.

In 2010, Gmarket's turnover reached 4.7 trillion won, and the number of registered members exceeded 20 million.

On December 10, 2012, Korean online shopping platform Gmarket and Showsuite announced that they would cooperate to create a one-stop Korean fashion shopping platform.

In August 2016, What’s Worth Buying, together with well-known Japanese and Korean e-commerce companies such as Amazon Japan, Rakuten Japan, Hyundai Shopping Korea, 11th Street, and Gmarket, launched the "Japan-Korea Shopping Festival".

In October 2006, Gmarket launched the Gmarket Global English shopping website and began to provide online shopping services to overseas users and foreigners living in South Korea.

Awards

Gmarket won the "2015 Chinese Consumers' Most Favorite Korean Brand Award"

Ranked first in Korea's industrial brand power ranking for 5 consecutive years (2011-2015)

Ranked first in the National Brand Competitiveness Index for the eighth consecutive year (2007~2014)

Customer Impression Brand Index, ranked first for 3 consecutive years (2012~2014)

Ranked first in the national customer satisfaction index (2011, 2014)

Won the Best Brand Award for 4 consecutive years (2012~2015)

References

• 1. What’s Worth Buying sets its sights on the Japanese and Korean shopping market and joins hands with Rakuten Gmarket: ebrun [cited on 2016-08-12T16:00:00.000Z]
• 2. South Korea's Gmarket joins hands with Zouxiu.com to launch Korean fashion shopping platform: Tencent Technology [cited on 2012-12-06T16:00:00.000Z]