The Korean e-commerce market is growing rapidly and has been gaining worldwide attention, thanks in part to the Netflix Korean drama “Squid Game.” According to research by Global Data, a leading data analytics company, Korea’s e-commerce sales reached $120 billion in 2021, and it is expected to reach $242 billion by 2025, surpassing other Southeast Asian countries. With Korea’s technology and e-commerce infrastructure becoming more advanced and online shopping becoming a consumer habit, many overseas e-commerce businesses are eager to enter the market. In June of last year, the foreign e-commerce platform Shopify also announced its expansion into the Korean market.
Currently, local online stores account for the majority of Korea’s e-commerce sales, with overseas online stores making up a smaller proportion. However, it can be challenging for overseas e-commerce businesses to enter the Korean market due to language barriers, cash flow issues, and logistical challenges. As e-commerce models become more diverse, e+Solutions’ logistics support can help individuals or startups expand overseas with ease. For example, in Korea, businesses can raise operating funds through crowdfunding platforms and entrust e+Solutions’ reliable logistics team to handle order delivery.
Crowdfunding Platform Consultation & One-Stop Logistics Solutions
There are numerous large crowdfunding platforms, such as Wadiz in Korea, Indiegogo and Kickstarter in foreign countries, Jeje in Taiwan, and Makuake in Japan. As long as you have an innovative product idea or development plan, you can become crowdfunded on the platform and use crowdfunding to allow supporters to pre-purchase your product concept, thereby obtaining funds to expand your business.
Once the crowdfunding is successful, your supporters become customers, and you can proceed to develop and produce physical products according to the number of orders and deliver them to customers, officially launching your e-commerce business in Korea.
Many startups focus on fundraising and product development but neglect to plan for logistics in the later stages. Planning for warehousing, packaging, local express delivery, and return arrangements in advance will make the entire crowdfunding process smoother and enable customers to enjoy a better shopping experience.
General Crowdfunding Product Logistics Delivery Process:
Integrate orders on the platform > Produce according to orders > Transport the products from the manufacturer to the online store logistics warehouse > Have the logistics team handle orders and arrange delivery > Deliver the products to customers
The pandemic has led to a significant increase in online shopping in Korea, and crowdfunding platforms can serve as a springboard for businesses to enter the Korean market. By testing the market’s response to your product first and then proceeding with development, you can reduce operating costs and gradually expand your online store in stages in Korea to grow your business.
If local online store owners wish to enter the Korean market, they can contact e+Solutions anytime. They have their own warehouse and local team in Korea and can provide professional crowdfunding process consultation as well as comprehensive logistics arrangements to support the growth of overseas e-commerce businesses.
Encountering any e-Commerce logistics troubles? e+Solutions can help you! From goods storage and management, handling and packaging, to arranging last-mile, we can meet all your logistics needs while allowing you to operate an online store easily!
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