Coupang headquarters in Seoul. Coupang.
South Korea’s largest e-tailer, which in March netted a record-breaking $4.6 billion US IPO, is outpacing 250 global rivals according to Deloitte’s Global Powers of Retailing 2021 report.
Having reported a 60 percent year-on-year revenue boost and a five-year compound annual growth rate (CAGR) of more than 100 percent, Coupang has overtaken India’s Reliance Retail, which was named the world’s fastest-growing retailer in last year’s survey.
Coupang may be leading the e-commerce race in Korea, but competition is fierce. The company credited its rapid revenue growth to its focus on logistics: due to the density of its domestic market, 70 percent of Koreans live within 10 minutes of one of Coupang’s logistics centres.