Coupang Surpasses 22 Trillion Won in Sales Last Year... 54% Increase Compared to Previous Year (Update)
Kim Beom-seok "Coupang's Growth Potential Still Remains"
Coupang's sales last year reached a record high of $18.4 billion since its founding in 2010. Based on the current exchange rate, this exceeds 22 trillion KRW.
Coupang announced on the 3rd that its sales for last year totaled $18,406,372,000. In Korean won, this amounts to 22.2257 trillion KRW. This represents a 54% increase compared to the previous year. This announcement is the first annual performance disclosure since its listing on the New York Stock Exchange last year.
However, the net loss also reached $1,542,590,000, equivalent to 1.8627 trillion KRW. Considering that the net loss was $463,157,000 the previous year, the deficit has significantly widened. This includes a loss of $296,000,000 due to a logistics center fire in the second quarter of last year.
For the fourth quarter of last year, sales reached $5,076,693,000, a 34% increase compared to the same period the previous year. Coupang explained that this is also the highest quarterly sales record, and the growth rate is more than twice that of the domestic e-commerce market. The fourth quarter net loss was $404,980,000, which included $130,000,000 in costs related to COVID-19 prevention measures.
The number of active customers who made at least one purchase on Coupang last year reached 17.94 million, nearly 18 million. This is a 21% increase from 14.85 million in the same period the previous year. The average purchase amount per active Coupang customer also increased by more than 11% compared to the previous year, reaching $283 (approximately 340,000 KRW). Additionally, the number of Wow Membership subscribers reached 9 million by the end of last year.
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Kim Beom-seok, founder and CEO of Coupang, said, "Compared to two years ago, sales have nearly tripled, which means Coupang's growth potential still remains. We have proven revolutionary customer experiences such as dawn delivery, convenient returns, and Coupang Play, and we will continue essential innovations that have become indispensable in customers' lives."
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