Did you know that in 2022 Italian digital exports have reached a value of 18.7 billion euros, with a growth of +20.3% compared to 2021, reaching a share equal to 8.8% of overall Italian exports?
Also thanks to the pandemic, the digital transition has undoubtedly been accelerated: the possibility of selling online all over the world has represented one of the main means of reducing the effects of the crisis.
And in this time marked by the boom in e-commerce they are increasingly establishing themselves markets aimed at South East Asia, especially the one represented by South Korea.
Selling in South Korea is currently an opportunity with excellent prospects, mainly due to the strong digitalisation of the country. Just think that the percentage of population that shops online exceeds 80%, and that this trend is constantly rising.
How then to conquer a slice of this market? We explain it in this article.
The fastest growing commercial sectors in South Korea concernclothing, i foodstuffs (like wine), the personal care and thefurniture.
South Korea is considered the litmus test to evaluate the strength of certain goods on the Asian continent: if the responses, in terms of sales, are positive in the Korean market, this can be the springboard for entry into other neighboring countries, such as Japan and China. In other words, testing a product in South Korea means obtaining a useful evaluation for deciding whether or not to expand its expansion to other territories.
One of the main advantages of selling in this country is the lack of export taxation from the European Union. For almost all types of goods, there are no customs fees but only the obligatory nature of a "declaration of origin", or the need to specify the "economic nationality" of the goods you want to sell.
Italian products, compliant with the style of exclusivity still linked to Made in Italy, are highly sought after in South Korea. Therefore an e-commerce that pays attention to the Korean market has excellent prospects of achieving good results even in the short term.
A valid strategy could be to place the products to sell and on dedicated e-commerce, either on a marketplace very widespread in South Korea as Gmarket, owned by eBay. On Gmarket, payments are managed directly by the sellers, who must pay a commission on each purchase.
In both cases it is strongly recommended to rely on of market experts in the country, to optimize the presence of the products you want to sell. This includes ua digital communication strategy that knows how to underline the characteristics of the goods, based on the demand for goods in South Korea. This strategy should also include social media, channels for the large-scale diffusion of new brands.
South Korea is one among the most digitalized countries in the world and among the most open to technological innovations. Despite its small size, its establishment as an export country continues to grow. Suffice it to say that it is the country with the fastest mobile network, elIts economy is the fourth largest in Asia.
Creating an e-commerce that sells in this country means entering a prosperous market, especially on the digital front. In fact, in South Korea, online sales have surpassed traditional sales methods.
Sell in that country it is certainly an excellent opportunity, which can lead to considerably expanding your online business. But Korea is also a nation picky about online products, which must be of excellent quality and be delivered quickly. As mentioned previously, it is therefore of fundamental importance to have a commercial partner who can identify the best strategies to optimize sales, based on the target you are addressing.
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