With the continuous development of e-commerce, more and more countries become popular markets for international e-commerce. This time, we set our sights on Turkey and South Korea. If you are engaged in an international e-commerce business, you must be familiar with these two countries. Recently, we have connected two shipping channels from China to these countries.
If you are selling to Turkey or you are interested in expanding the Turkish market, the following steps must be useful to you.
E-commerce prospects
Turkey is one of the three major economies in the Middle East, straddling Europe and Asia, with a population of approximately 84 million. In addition to China in 2020, Turkey is the only G20 member country to achieve positive economic growth. According to data from Statista, Turkey’s e-commerce scale is expected to reach $14.89 billion in 2021, and it is expected to reach $256.73 by 2025.
Online shopping popularity
According to data from Ecommerce DB, Turkey’s e-commerce users have reached 41 million in 2021, with an Internet penetration rate of 77% and an e-commerce penetration rate of 48%. By 2025, the number of Turkish e-commerce users is expected to increase by 42% to 58 million.
Consumer preferences
Clothing and shoes are the main categories of online shopping for Turks. As of October 2021, in the past 12 months of online shopping, 76% of consumers bought clothes, 68% of consumers bought shoes, 50% of consumers bought cosmetics/body care, and 48% of consumers prefer electronic products.
If you are more interested in the Korean market, then the following information will definitely help you.
E-commerce prospects
With a total population of approximately 51.3 million, South Korea is one of the fastest growing countries in the global e-commerce market. According to data from the Statistics Ministry, the total value of Korean e-commerce transactions in 2020 reached 161.1 trillion won, an increase of 19.1% year-on-year and accounting for 27.2% of total retail sales. According to eMarketer’s forecast, South Korea’s e-commerce transaction volume will account for 28.9% of total retail sales in 2021, second only to China.
Online shopping popularity
Ecommerce DB data shows that in 2021, South Korea’s Internet penetration rate is 92%, and the e-commerce penetration rate is as high as 74%, ranking 10th in the world. In 2020, the number of e-commerce users in South Korea will reach 38 million. By 2025, the number of e-commerce users is expected to reach 43 million.
Consumer preferences
Cheap prices and convenience are the main driving forces for Korean consumers to shop online. Clothing, shoes, and electronic digital products are the most concerned products. 51% of consumers want to deliver goods to their door, and 55% of consumers pay attention to product reviews before shopping online.
We are determined to provide fast, convenient and high-quality order processing services for global sellers！
