South Korea's Most Popular Ecommerce Site Revealed

South Korea’s top ecommerce site has been revealed to be 11Street. According to research performed by Nielsen, 11Street, or Korean Street as it is colloquially known in the country, was the most visited platform across its mobile app and desktop site combined, with over 11 million unique users in November 2016 alone. In the mobile internet category, it failed to take the top spot however – although it still brought in 7.4 million users through that channel. Its success comes at the same time that the country’s Ministry of Science has announced that more than 99% of households in South Korea have internet access, with 88% of the population over the age of three years old using the web. The steady increase in internet penetration has been helped by the growing numbers of users over the age of 60, around 50% of whom used the web in 2016, compared to under a third in 2014. Apple Pay is still struggling to find success in the Chinese market, a whole year after its launch. Whilst it is dominating the market in its home country of the US, data collected by the research firm Analysys shows that Apple Pay is not even in the top ten digital payment services in China. In comparison, Alipay and Tenpay make up 50% and 38% of the market, respectively. Fundamental to both of these companies’ success is the fact that they are available on any smartphone operating system, including iOS and Android, and on most phones available to buy. However, Apple Pay is only available on Apple smartphones, something which itself is failing to challenge big players in China. With this limited support, retailers in the country are less likely to invest in Apple Pay, leading to minimal visibility. YouTube has announced that it will be launching its own video streaming service, called YouTube TV, in the next few months. Existing as a standalone app, the service will stream content from around 35 American television channels, and will cost users around 35 US dollars per month. Features will include being able to record your favourite shows, and searching in the app by genre. David Pakman, a tech investor with Venrock, said that the move would help YouTube reach younger generations who would “never subscribe to cable television”. Analysts also pointed out that the app would benefit TV networks, who could use it to monetise their content digitally through targeted advertising. Luxury brands around the world are beginning to move into the ecommerce sector. After delaying the move into online retail due to customers being perceived to want a more intimate, personalised experienced with higher prices, many high-end brands are starting to sell online. This includes the luxury watchmaking brand Vacheron Constatin moving to sell a limited edition 45,000 US dollar watch exclusively online at hodinkee.com. It follows in the footsteps of Chanel, Burberry and Jimmy Choo, who have also recently invested in ecommerce. A spokesperson from the marketing and ecommerce agency Infinitum Ecommerce has explained that the move could be in part due to “luxury brands finally understand that their customers” are more likely to buy online, after a luxury brand buyer’s average age recently fell from 48 to 34 years old. And finally, the top German football league, the Bundesliga, has signed a partnership with the Chinese tech giant Baidu. The league is China’s most popular foreign football league, according to a report by The Red Card, ahead of The Premier League. Christian Seifert, Chief Executive of the Bundesliga, said that with the new deal, he plans to “expand the top position that the [league] holds in China”. He added that it was part of directing efforts towards “the media and digital sectors”, something which Baidu would assist with.

Ref. Webcertain TV / Mar. 6, 2017

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