You know I’m often writing about emerging markets and other regional revenue opportunities, especially as regards local alternative payments. ZDNet.com has just published results of 2012 e-commerce sales for South Korea, and they took off last year to an all-time high - 1,144 trillion won which is USD $1.05 trillion – we’ve heard the word trillion tossed around with all kinds of negative connotation in recent days, but here’s a trillion that’s a good marker, and do in large part to increased B2B transactions.
An almost 15 percent jump from 2011 to 2012 – not bad for a lagging global economy. According to Statistics Korea (KOSTAT), this was a broad increase, with online transactions increasing across all categories.
The B2C sales increase was more modest, but still improved 6 percent to USD $18.1 billion.
A really interesting stat for those of you innovating in the software solutions arena, C2C sales ballooned over 20 percent to USD $10.9 billion so start thinking about platforms that can tap into that burgeoning activity, and make sure to implement responsive design for all those mobile devices in use there.
Talk to me about converting South Korean traffic.