Coupang 'Good Store' Surpasses 3 Trillion KRW in Cumulative Sales for Small and Medium-Sized Merchants

Digital Permanent Exhibition Hall Supporting Small Businesses Nationwide
580,000 Products Operated Last Year... Up 26% from Previous Year
Sales of Some SMEs Increased by 700%

Coupang announced on the 4th that the cumulative sales of small and medium-sized merchants registered in the 'Good Store' have exceeded 3 trillion KRW last year.

Good Store is a permanent planning section introduced by Coupang to pioneer digital sales channels for local agricultural and fishing villages and small and medium-sized merchants. Since its launch in August 2022, it surpassed 1 trillion KRW in cumulative sales by the end of 2023, and achieved an additional 2 trillion KRW in sales over one year, growing more than three times compared to the previous year. This figure significantly exceeds the overall growth rate of 29% (based on KRW) of Coupang's parent company, Coupang Inc., last year.

Good Store consists of products made by tens of thousands of small and medium-sized merchants nationwide, including the metropolitan area as well as Gyeongsang-do, Jeolla-do, Chungcheong-do, and Gangwon-do. It includes local specialty products unique to regions such as gim (seaweed), gam (persimmon), and gwamegi (half-dried fish), as well as food and industrial products made in small-scale production facilities operated by companies with excellent technical skills in the region. The number of Good Store products introduced by Coupang last year was 580,000, a 26% increase compared to 460,000 in 2023.

One advantage of Good Store is that as long as the quality is excellent, products are continuously exposed to customers, increasing orders. It is promoted to customers on the main screen of the Coupang application (app) along with Coupang’s main tabs such as Rocket Fresh and Rocket Delivery. So far, Coupang has collaborated with 24 organizations and local governments, including the Ministry of SMEs and Startups, the Korea Federation of SMEs, the Korea Women Entrepreneurs Association, and the Win-Win Growth Committee, to select small and medium-sized enterprises and organize various themes to hold special discount promotions.

Major Achievements of Coupang Good Store. Provided by Coupang

Small and medium-sized merchants registered in Good Store evaluate that "they can compete with large popular bestsellers without separate marketing costs, and while raising their lowered recognition due to lack of exposure opportunities in other distribution channels, their sales and employment have also increased." For Rocket Delivery, where Coupang directly purchases products, another advantage is that the burden of sales, delivery, and customer complaints is relieved.

Currently, about 70% of all Coupang sellers are small merchants with annual sales under 3 billion KRW. They are rapidly growing based on 22.5 million active customers in Coupang’s product commerce sector. For example, 'Kitchen Blooming,' a kitchenware manufacturer in Gimpo, Gyeonggi, saw its sales increase by 700% last year compared to the previous year after joining Coupang in March 2023. 'Yeongyang F&S,' which operates the brand 'Haetnim Maeul' specializing in domestic red pepper powder products, also experienced about 60% sales growth last year compared to the previous year, triggered by joining Coupang’s Good Store.

Park Dae-jun, head of Coupang’s New Business Division, said, "We will continue to work with related organizations and local governments to open new growth opportunities for small and medium-sized merchants."

This content was produced with the assistance of AI translation services.