Has the Golden Age of Delivery Apps Ended? Food Delivery Down 11% in Q1
Online Travel Service Transactions Increase by 112% in Q1
As the impact of COVID-19 subsides and daily life gradually recovers, the transaction amount for online travel and transportation services in the first quarter of this year increased at an unprecedented rate. In contrast, the transaction amount for food delivery services decreased by the largest margin ever recorded.
According to the "March 2023 Online Shopping Trends" released by Statistics Korea on the 1st, the transaction amount for travel and transportation services in the first quarter reached 5.5135 trillion KRW. This represents a 111.7% increase compared to the same period last year (2.6049 trillion KRW), marking the highest growth rate since related statistics began in 2017. The transaction amount itself is also the highest ever recorded.
![March Online Shopping Trends <br>[Photo by Statistics Korea]](http://www.asiae.co.kr/news/img_view.htm?img=2023050113360016924_1682915761.jpg)
On the other hand, the transaction amount for food services in the first quarter was 6.3669 trillion KRW, a 10.8% decrease compared to one year ago. It has declined for nine consecutive months from July last year (-5.0%) through March this year, with the decrease rate in March reaching 13.0%, the largest drop ever recorded.
As the transaction amount for food services, which accounts for a large portion of online shopping, declined, the overall growth rate of online shopping transaction amounts also slowed down. In March, the online shopping transaction amount was 18.8379 trillion KRW, showing only a 7.0% increase compared to one year ago.
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The year-on-year growth rate has fallen to single digits since September last year (9.0%), one month after reaching 15.9% in August. This is the second-lowest growth rate following 6.3% in the fourth quarter of last year.
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