Monthly online shopping transactions top 24 trillion won as e-commerce firms gear up for November competition

[Financial News] E-commerce firms have launched a discount competition to attract customers as November, the biggest shopping season of the year, gets underway. Major players are pulling out all the stops to boost transaction value by expanding their discounted products and coupon offers.
According to the National Data Agency on the 3rd, online shopping transaction value in September was 24.9719 trillion won, up 4.1% from 23.9961 trillion won in the same period a year earlier. Accordingly, online shopping transactions over the first three quarters of this year totaled 220.1872 trillion won, up 8.5% from 202.9141 trillion won in the same period last year.
Sales at major online retailers are also continuing to rise. According to the Ministry of Trade and Industry, sales at 11 major online retailers rose 4.0% year on year in September. Sales have continued to increase year on year every month so far this year, sustaining the growth trend. The convenience of shopping online is seen as supporting the market’s growth.
As the market grows, competition among e-commerce firms to attract customers is becoming even fiercer. November is particularly when major e-commerce players hold their biggest discount events of the year. Industry figures say November became a key shopping season after Gmarket and 11st began holding major discount events that month in 2017 to coincide with the U.S. Black Friday, and other companies soon followed suit.
This year, too, major e-commerce firms including Coupang, Gmarket and 11st have rolled out a series of large-scale discount events to capture year-end shopping demand.
Coupang is holding its flagship discount event, ‘Wow Members Day,’ through the 8th for Coupang Wow Membership members. It is offering discounts of up to 70% on at least 370,000 products across 16 categories, from fresh and processed foods to household goods, home appliances and digital products, beauty, fashion and travel.
Gmarket is also holding Big Smile Day, its biggest shopping event of the year, through the 13th. This year, it is offering special prices on around 3,000 products, the largest lineup ever. It is discounting a range of products, including Samsung Electronics refrigerators, HP laptops and The North Face outerwear, and unveiling exclusive deals available only on Gmarket every day.
11st is holding its biggest shopping event of the year, ‘2026 Grand 11th Day,’ through the 11th. Around 180 major domestic and international brands and some 8,200 sellers are taking part, offering discounts on home appliances, food, beauty products and travel. This year, it has also introduced AI-powered shopping features.
Kurly Inc., Lotte ON and SSG.COM have also joined the discount competition. Kurly is holding Black Week, its biggest discount event of the year, through the 9th, offering discounts on around 2,000 products in categories including food, beauty and home goods. Lotte ON is running Black On Sale through the 8th, offering special prices on a range of products, including fashion, beauty and digital goods. SSG.COM is also taking part in Shinsegae Group’s biggest shopping event of the year, SSG Day, through the 8th, offering discounts on around 100 online-exclusive products in grocery, beauty, fashion and home goods.
An e-commerce industry official said, “November is when year-end consumer demand is concentrated, making it the most important time for e-commerce companies to significantly increase their fourth-quarter transaction value. Each company has to spend a considerable amount on discount coupons and marketing, but the impact on sales is just as substantial, so they are engaged in fierce discount competition.”
[email protected] Jang Yu-ha Reporter