State of Japan and Korea’s eCommerce markets- What are the trends shaping these huge digtial markets and how can you benefit? Japan is the world’s third largest— and one of the fastest growing—ecommerce markets in the world. The growth rate has become stable over the past few years, with annual growth estimated at 8.7%. With Internet penetration estimated at 91% of the population, Japan represents a significant market opportunity.
Due to strong technological and mobile adoption, South Korea is one of the biggest e-commerce markets worldwide. Industry figures suggest that the retail e-commerce volume in the country will grow to 32.56 billion U.S. dollars by 2021.