Due to the technological advances in recent years, the e-commerce has had a huge boom. This has allowed outrageous trade companies to take advantage of it, such as Alibaba in China, and Gmarket in South Korea.
Gmarket is the most popular South Korean online auction and shopping mall website, similar to and owned by eBay. It was founded in 1999 by Young Bae Ku, with the aim of opening a market that offers products at wholesale prices, direct from Korea, such as cosmetics, clothes, electronic devices, food, furniture, among many other things. eBay acquired Gmarket in June 2009, for approximately USD $1.2 billion. This subsidiary is now known as eBay Korea Co., Ltd.
As in other similar websites, anyone is welcome to sell their goods. Especially when it comes to technology related products, this shopping site is a heaven for many! In addition, international companies such as Samsung, offer in auction their most trendy products and services at incredible prices. Also PayPal and Visa give coupons to new members, which help to get even better final prices.
Generally speaking, Gmarket works as an intermediary. This means that the consumer has the facility to buy from as many sellers as he wants, and all his items will be consolidated by the company and sent on a single parcel. In other words, the more products he buys, the cheaper the shipping will cost. Gmarket delivers most of their products through EMS, a Chinese courier service, which is highly priced, but faster than the normal postal service.
Gmarket ships worldwide and the costs depend on weight and the zone where the destination is located. For this, the company assigned the countries to different areas, in order to determine how many Wons they will charge. You most note that the only allowed currencies for foreign credit cards are KRW (Korea), RMB (China), USD (USA), NZD(New Zealand), HKD (Hong Kong), SGD (Singapore).
It is important to consider that almost all the information posted on the online stores is in Korean, and no translation is provided. See this informative article about Gmarket English to find out how to access and translate the whole Korean online shopping site. Only some sellers offer their products in English. However, the main website can be displayed in English, Korean, and Chinese.
Gmarket makes its profit from the commission on the initial sales price, and also from advertisement spaces on their web site.
Finally, if you want to become a Gmarket’s reseller, you should know that there are affiliate programs available that will let you increase the turnover of your web site, mainly through plug-ins designed for e-commerce tools, such as Shopify or Magento.
Now that you know a lot about the most popular Korean e-commerce website, check out the article about English access and let’s start impressive technology shopping of course!
See you next time,