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Massive year-end sales open on online shopping platforms

(Yonhap)
(Yonhap)
With the end-of-year shopping season in full swing, South Korea’s major online shopping platforms including Coupang, WeMakePrice and Olive Young have announced big discounts and special deals.

Coupang, the largest e-commerce platform in the country, is holding a Christmas sale until Boxing Day offering a range of Christmas-related items at a special price including home decor products and gifts.

Discounts of up to 50 percent are being offered for some of the most popular kids’ toys brands and characters including Hello Carbot, Pororo and Lego.

WeMakePrice is holding a three-day sale event dubbed “WeMakePrice Day” during the first three days of December with special deals on winter-themed items such as puffer jackets, coats as well as hand warmers among other items.

Beauty and health retailer Olive Young kicked off its own weeklong sale on Sunday both at its brick-and-mortar and online stores.

The event, which will be the last of its kind this year, is being held in connection with the beauty retailer’s own Olive Young Awards, featuring some of the most popular trendiest products.

For the first time, all products from select popular makeup brands such as MAC and Estee Lauder will be on offer with a 20 percent discount.

The moves come as online shopping soared in popularity this year as the ongoing pandemic saw shoppers across the globe opt to go online while in-store shopping took a major hit by coronavirus woes and strict social distancing rules.

South Korea’s total volume of online shopping reached 14.7 trillion won in September, up 30.7 percent compared to the same time last year, according to data from Statistics Korea.

Food services and groceries enjoyed some of the biggest year-on-year increases -- 91.1 percent and 76.8 percent, respectively -- while clothes also saw a sales bump of 26.1 percent.

In the US, Thanksgiving Day online spending saw a near 22 percent year-on-year jump to a record-breaking $5.1 billion this year, according to data from Adobe Analytics.

By Yim Hyun-su (hyunsu@heraldcorp.com)
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