Mobile shopping receipts soar to 13 trillion won

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Mobile shopping receipts soar to 13 trillion won

Revenue from mobile shopping reached a record 13.1 trillion won ($11.7 billion) last year as smartphones have become the main platform for purchasing goods online, according to a retail report Monday by the Korea Chamber of Commerce and Industries (KCCI).

The 13.1 trillion won compares to just 5.9 trillion won in revenue in 2012 and 600 billion won in 2011, when the data was first compiled.

Revenue generated from computer-based online shopping was at 32 trillion won last year, retreating from 33.8 trillion won in 2013, according to the KCCI.

The phenomenon is largely due to the fact that as smartphones became more common, their payment features have improved to match that of computers, said Lee Young-joon, head of the retail industry policy division at the business lobby group.

Because mobile online shopping has continued its rapid rise despite drawn-out sluggish domestic consumption, retailers are scrambling to get an edge by offering inccentives., an online mall operated by Shinsegae, the nation’s second-largest retail group after Lotte, is scheduled to give discount coupons to its mobile app users today. Some springtime items will be discounted 70 percent and an additional discount of 8 percent will be available on some goods.

The company is determined to bring more consumers to its mobile app after sales from it have accounted for 40 percent across all platforms so far this year, up from 5 percent in 2012.

The KCCI report also showed that the increasing number of single and two-member households has also given a major boost to convenience stores.

Whereas large discount chains and department stores saw revenue shrink, between 2013 and last year, sales at convenience stores rose 8.7 percent.

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