W2.4tr spent on Coupang and Coupang Eats in January: report

Shoppers in South Korea spent some 2.4 trillion won on fast-growing e-commerce giant Coupang and its food delivery app Coupang Eats last month, according to data released from industry tracker WiseApp on Wednesday.

The latest data showed some 20 million people spent a total of 2.4 trillion won during the month of January, with each spending a total of 144,000 won per month on average on both apps.

The data is based on credit card and debit card transactions and bank transfers of South Koreans aged 20 and over, the industry tracker said.

Coupang boasted the highest number of purchase per person on average as well as the highest repurchase rate, leaving behind the likes of other platforms such as 11st, Auction and G Market, the data showed.

When broken down by age, those in their 30s came out on top, accounting for 29.1 percent, followed by those in their 50s, 40s and 20s who accounted for 28 percent, 23.8 percent and 19.1 percent, respectively.

WiseApp, however, said the data is only an estimate and there can be a margin of error.

The figure comes after the South Korean e-commerce giant announced on Sunday it had filed for an initial public offering to be listed on the New York Stock Exchange.

The company also announced on Wednesday it will hand out 100 billion won ($90.3 million) worth of shares to staff including contracted, part-time workers.

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