June 15, 2021|Category: Coupang | Author: GeekSeller & Coupang
Korea is not just home to K-pop. It is also the fourth-largest economy in Asia and the twelfth largest in the world as of 2019. The total spending in e-commerce was $128 billion in 2019, and it is expected to grow to $206 billion by 2024, implying a CAGR (Compound Annual Growth Rate) of approximately 10%. Overall, Korea has one of the largest and fastest-growing e-commerce opportunities anywhere in the world. And Coupang, one of the largest e-commerce companies in Asia and the largest online retailer in Korea, provides great potential for global sellers from all around the world to sell on Coupang Marketplace.
Growing Needs for U.S. Products
Korean consumers are well-known for being tech-savvy and quick to adapt to the latest shopping trend. Most importantly, they love purchasing overseas products online. The need for overseas purchases has been growing steadily in the past five years. The U.S. is the largest source of overseas purchases among Korean consumers, and it is expected that the U.S. will continue to be the biggest player in the cross-border e-commerce market in Korea.
Reasons for Selling on Coupang
Founded in 2010, Coupang has been building the next-generation experience for e-commerce. Coupang net revenues grew 74% year over year to $4.2 billion in the first quarter of 2021. In addition, quarterly active customers grew 21% year over year to 16 million, and total net revenue per active customer was up 44% to $262 in the first quarter of 2021.
This strong and increasing customer engagement and loyalty is also reflected in a consistently high spend driven by repeat purchases. The percentage spend from existing customers, defined as those who placed their first order with us in a prior year, has remained strong, increasing from approximately 87% in 2016 to approximately 90% in 2020.
Benefits for Global Sellers on Coupang Marketplace
Coupang Marketplace allows Brands & Sellers to list their products as third-party marketplace sellers on Coupang. As Coupang customers order these products, Sellers will ship from their country directly to customers. Sellers can access the Korean market using their existing operational footprint. Sellers do not need a Korean domestic business license nor a domestic bank account. Coupang has the ability to remit settlements to sellers in various currencies, including USD.
Coupang’s large customer volume and user-friendly store app allow businesses to expand their Global reach easily and bring their products to Korean customers.Also, there are further benefits for global sellers on Coupang Marketplace:
- Scalable solution for Sellers of all sizes: Coupang provides an Open API platform that you can integrate with to list products and manage your orders within your own systems, in addition to using WING, Coupang’s seller management portal. This is an efficient way to grow your business on Coupang.
- Marketplace Aggregator Support: Various marketplace aggregators that support listing on Coupang through their platforms. If you are using these providers to manage your business across multiple marketplaces, you can easily import your listings to your Coupang store and start selling quickly.
- Service Provider Support: New to selling in Korea or not fluent in Korean? Not to worry. Coupang Service Provider Network (SPN) provides a list of partners who can help you deliver to Korea, translate and create impactful Korean content to increase sales.
How to Register on Coupang Marketplace
Signing up to become a seller on Coupang is simple and easy. To apply, click Sign Up on the Coupang Marketplace website.
Here is the list of required documents for global seller sign-up:
- Valid business license – For US sellers, you need to provide EIN Confirmation Letter and Tax Form.
- Proof of identification – Valid passport or government-issued ID of the business owner
- Bank letter/statement– Bank letter or statement that shows bank name, bank address, account holder, account number, and SWIFT code. The bank account holder must match the business entity.
- Proof of business ownership– Documented proof of relationship between the business owner and the business entity
- Proof of contact number – A phone bill that shows either the company name or a person’s name related to the company.
About the Author
This article was created in collaboration between GeekSeller and Coupang marketplace.
47 responses on this
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Michael Ezrock July 4, 2021 6:16 am
Hi
We are based in Australia and would like to find out more about listing our products on Coupang. Please can you tell me the costs involved. Thank you
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GeekSeller July 5, 2021 3:15 pm
Michael, Thank you for your interest in Coupang. We will contact you directly with more information.
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Jennifer August 15, 2021 8:46 am
I am based in Korea. I would like to find out the requirement for selling in coupang.
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GeekSeller August 29, 2021 5:02 pm
Hi Jennifer, please send us an email at support@geekseller.com to open a ticket and one of our agents can connect you with somebody from Coupang who can answer all your questions.
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Peter September 30, 2021 12:14 pm
We are based in Australia and would like to seek more about listing our products on Coupang.
Can you please advise me the costs involved.
Thank youReply
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GeekSeller September 30, 2021 8:17 pm
Hi Peter, At the moment GeekSeller is not integrating directly with Coupang, but we can refer you to the Coupang team who can provide more information. We will send you details via email.
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Tilen Petrič November 5, 2021 1:59 pm
Hi! I am from Slovenia. I would like to find out the requirement for selling in coupang? and more.
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GeekSeller November 6, 2021 2:10 am
Hi Tilen, We are going to contact you via email with more details. Thank you!
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Miguel November 11, 2021 3:21 pm
We are a Spanish company interested in landing in Korea so would love to receive more info on accessing Korea’s coupang market as well.
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GeekSeller November 12, 2021 2:13 am
Hi Miguel, Yes, we are going to contact you via email with details.
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Binay November 15, 2021 1:54 pm
Hi
I am from nepal and i want to make store on coupang. What are the processReply
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GeekSeller November 17, 2021 3:43 am
Hi Binay, We will send you all the details via email shortly.
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Karina November 17, 2021 2:05 am
Hi! We are also highly interested in more information about the requirements and the application process of coupang, thank you!
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GeekSeller November 17, 2021 3:45 am
Karina, thank you for your interest in selling on the Coupang marketplace. We will email you details shortly.
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Paul Smith November 18, 2021 9:39 am
Hi, Could you also send me the information on selling on coupang please. Thank you.
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GeekSeller November 19, 2021 12:07 am
Hi Paul, we will send you the details shortly.
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Konstantin November 29, 2021 2:34 am
Good day, we are based in Korea, and we want to start e-commerce selling on Korean market, please provide information about coupang marketplace, what we need to do first?
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GeekSeller November 29, 2021 3:27 am
Hi Konstantin, Yes, Coupang could be an excellent marketplace for you to start. We will send you details via email on how to start.
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ali junaid November 30, 2021 4:38 am
Hello, we are based in Pakistan. Pakistan is rich in textiles, agricultural products, high-quality organic toothbrushes and lot more. Your response will highly appreciated!
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GeekSeller November 30, 2021 4:11 pm
Ali, we will send you details via email.
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Harry Hwang January 23, 2022 6:24 pm
Hi, we are based in Taiwan and I got a bunch of questions about doing e-commerce through coupang. Please email me to discuss about further questions that I have. Thank You
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GeekSeller January 24, 2022 12:52 am
Hi Harry, thank you for your interest in selling on Coupang. We will shortly contact you directly via email with more information about Coupang.
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Loraine Ben-Hayun February 17, 2022 11:08 am
Hello.
I,m based in South Africa and would definitely want to partner with Coupang
as a Global seller on your platform.
Please kindly provide me with the necessary information.
Regards.
Loraine Ben-HayunReply
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GeekSeller February 17, 2022 8:38 pm
Loraine, thank you for your interest in selling on Coupang. We will send you more details via email, it will come from our GeekSeller support team.
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Peter March 21, 2022 11:02 pm
Foriegner living in Korea. Interested in selling on coupang. How can I contact you?
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Akansha March 28, 2022 10:54 am
Hi,
I am from India and I am interested in adding my brand on Coupang, can you help me with the registration process.Thanks
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Mohammed March 31, 2022 8:26 am
Hi I’m currently based in South Korea and would like to know more about the requirements for selling on Coupang.
Thank youReply
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GeekSeller April 7, 2022 2:02 pm
Hi Mohammed, Please see the section How to Register on Coupang Marketplace in our post to learn more about Coupang and how to apply. You can also visit this official Coupang Marketplace page for more details.
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Antoine BOURIGAULT April 15, 2022 2:32 pm
Hi,
From france, we are intersting by selling our product ( canned food ) on coupang. I would love to get more information about how it works. Is it possible to sell directly to coupang like with amazon vendor ?
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GeekSeller May 21, 2022 6:37 pm
Hi Antoine, You may want to explore becoming a supplier, https://supplier.coupang.com/welcome/join/, but for more details please contact our Coupang contact at kyuchanglim@coupang.com.
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Faridjon May 29, 2022 7:56 am
Hello, I am a holder of an e7 visa and currently, i am in Korea. Can I sell products on Coupang?
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GeekSeller May 30, 2022 10:43 pm
Hi Faridjon, As long as you have a company that sells quality products, you should be able to join Coupang. For more details please contact our Coupang contact at kyuchanglim@coupang.com.
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Nick June 8, 2022 9:55 am
Hi There, We would love to sell on your platform. We are a luxury fashion store based in the Netherlands.
Kind regards,
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GeekSeller June 13, 2022 9:12 pm
Hi Nick, You can apply here, and if you do not hear from the marketplace after a week or so, you can contact our Coupang contact at kyuchanglim@coupang.com.
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Haider Usman September 4, 2022 2:04 am
Hi! I am from Pakistan and I have E9 work visa and I live here in South Korea from last approximately 5 years. And I want to ask you a question. Can I make a seller account on Coupang or no? please let me know. I will be waiting for your reply
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GeekSeller September 5, 2022 1:28 pm
Hi, if you already have a business that is running and you have products to sell, you should be able to apply and sell on Coupang. But please contact our Coupang contact at kyuchanglim@coupang.com to confirm.
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Devesh Tiwari September 5, 2022 7:00 am
Dear Sir
My Name is Devesh, i am from India , i want to sell product from India In Coupang, Can you inform me how can i do thisReply
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GeekSeller September 5, 2022 1:32 pm
Hi Devesh, As long as you have a business that sells products already only, you should be able to create an account and sell Coupang. You can apply here. If you have any questions, please contact our Coupang contact at kyuchanglim@coupang.com.
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Saad Ali September 29, 2022 9:29 am
Hi! I am from Pakistan. I would like to find out the requirement for selling in coupang? and more.
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GeekSeller September 29, 2022 5:19 pm
Hi Saad, For details on requirements to sell on Coupang, please see the section “How to Register on Coupang Marketplace” in our post.
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Zulaika Jasmin December 19, 2022 3:03 am
Hi, I’m Jasmin from Malaysia’s Food company. We would like to sell our products in Coupang. Please share with us the process, requirements and all the fees incur.
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promo April 1, 2023 10:57 am
hi,
I am from India and We would like to sell our products in Coupang.whats the process?Reply
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GeekSeller April 10, 2023 3:27 pm
Hi, for more information on the marketplace and how to register, visit globalsellers.coupang.com.
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Kamand July 3, 2023 1:20 am
Hi, i’m from Iran, can I sell my product in coupang?
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GeekSeller July 3, 2023 1:34 am
Hi, there is no reason to not to try applying, for more information on the marketplace and how to register, visit globalsellers.coupang.com.
Reply
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