Despite the exponential growth in e-Commerce in the last decade, the reality is that we are in the early innings of this secular growth trend. There is a long runway ahead. This is encapsulated in the current low penetration of e-Commerce within total global retail sales. Standing at 14% currently, annual retail e-Commerce spending is forecasted to reach USD6.5t, or 22% of global retail sales by 2023.
Coupang dubbed the South Korean Amazon, is an interesting player in the sector. The Founder Bom Suk Kim thinks long term, rapidly iterates and has developed a culture different to most Korean corporates
