KERI: China's e-commerce giants JD.com, Alibaba and Pinduoduo have an average annual revenue growth rate of 41.0%

According to media reports, the latest report of the Korea Economic Research Institute (KERI) reveals the competitive landscape in the global e-commerce field. The report pointed out that Amazon (US), JD.com (China), Alibaba (China), Pinduoduo (China) and Coupang (South Korea) ranked among the top five e-commerce companies in terms of revenue. It is worth noting that the average annual revenue growth rate of Chinese e-commerce giants JD.com, Alibaba and Pinduoduo (Temu's parent company) is as high as an astonishing 41.0%. This growth momentum has enabled Chinese companies to occupy three seats in the global e-commerce revenue ranking.

KERI's in-depth analysis shows that AliExpress's entry into the Korean market in 2018 marked a major change in the e-commerce landscape. At that time, the global e-commerce market was worth $2.9 trillion. In just a few years, with the rapid growth and increasing influence of global online shopping, the market size has nearly doubled to $5.8 trillion.

In the competitive landscape of e-commerce platforms in South Korea, Coupang has always been at the top of the list, followed by 11st, Gmarket and Tmon in terms of monthly user numbers, and AliExpress ranks fifth.

However, with the strong launch of Temu in the Korean market in July last year, the competition landscape has changed dramatically. In less than a year, Temu quickly climbed to fourth place and squeezed Gmarket to fifth place. At present, the ranking of Korean e-commerce platforms has changed to: Coupang leads, followed by AliExpress, 11st, Temu, and Gmarket ranks fifth.

This change not only demonstrates Temu's strong strength in the Korean market, but also foreshadows a new trend in the global e-commerce competition landscape.

Zikuai Technology