E-COMMERCE | Staff Reporter, Korea

Shinsegae to launch online marketplace in December

This could help the company ramp up its product offerings.

Shinsegae's ecommerce platform,, is launching a new market service in December, hosting smaller dealers on its platforms, IGD reported. Currently, only sells products directly bought from suppliers or partners.

The 10 million products that the platform carries only account for 10% of stock keeping units (SKUs) on an average online marketplace. By hosting smaller dealers on its platform, will have a richer product offering and attract new shoppers, IGD's senior retail analyst Jiong-Jiong Yu said.

In April, its rival Lotte also opened its online shopping mall to small dealers. As a result, the number of products on Lotte’s online platform surged from 1.8 million to 25 million in a short space of time.

However, the platform will not have overnight delivery service for small dealers like its rivals Coupang and Naver do, which will affect its competitiveness, IGD said. Still, the report noted that’s simple payment system SSG Pay can be used on its online marketplace for fast payment and extra convenience.

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