TMON.
However, economies of scale will eventually give an advantage to larger companies. Therefore, investors should look out for the names that are starting to take more and more market share. I believe Coupang could fill this role in Korean e-commerce. In 2020, it was the only South Korean player with a “sizable gain in market share,” growing from 18.1% in 2019 to 24.6%.
On top of this, Coupang grew its total revenues to $12 billion last year, a 93% increase year-over-year (YOY). This coincided with the growth of its active customer base by nearly 26%, from 11.8 million in 2019 to 14.8 million. As such, the company’s growth wasn’t primarily due just to increased usage and order value but also to a healthy increase in users.
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