Coupang Eats has the highest proportion of payments in the Seoul metropolitan area
Olive Young also has the lowest proportion of payments in the Seoul metropolitan area at 56.7%
Bae Min metropolitan area at 43.5%
ėŽė§ íë Graphic related to quick commerce payment area surveyed by Wise Retail. Wise App/Retail
In the quick commerce market, a survey found that there are differences in services mainly used by consumers in the metropolitan and non-metropolitan areas. Coupang Eats and Olive Young were concentrated in Seoul and Gyeonggi Province, while convenience store-based services such as Baedal Minjok and CU and GS25 showed a relatively high proportion of use in non-metropolitan areas such as Busan, Daegu, and Gyeongnam.
On the 26th, WiseApp and Retail surveyed Korean credit and debit card payment data and analyzed the proportion of payments by residence of major quick commerce brand payers, and Coupang Eats’ share of payments by Seoul and Gyeonggi residents last month was 58.6%, the highest among the five brands surveyed.
Coupang Eats had the highest share of payments made by Gyeonggi residents at 30.4%, followed by Seoul at 28.2%. Compared to Busan (7.2%) and Incheon (6.8%), payments are concentrated in the metropolitan area.
Olive Young also accounted for 56.7% of payments in Seoul and Gyeonggi Province. It was 28.5% in Gyeonggi Province and 28.2% in Seoul, followed by 7.2% in Busan, 5.5% in Incheon, and 5.2% in Daegu. In other words, both Coupang Eats and Olive Young have more than half of the total payments made in Seoul and Gyeonggi Province.
On the other hand, convenience stores and delivery people showed relatively even distribution of use by region. GS25 accounted for 27.6% of Gyeonggi Province and 20.4% of Seoul, accounting for 48.0% of the total in Seoul and Gyeonggi Province. Significant payments also occurred in non-metropolitan areas such as Busan (9.4%), Gyeongnam (5.9%), and Daegu (5.4%).
CU’s share of payments in Seoul and Gyeonggi Province was 44.9%, lower than that of GS25. After 26.1% in Gyeonggi Province and 18.8% in Seoul, 10.2% in Busan, 6.6% in Gyeongnam, 5.8% in Incheon, and 5.2% in Daegu. In particular, CU had the highest proportion of Busan residents’ payments among the brands surveyed.
Baedal Minjok also had the lowest proportion of Seoul and Gyeonggi Province with 43.5%. After 24.1% in Gyeonggi Province and 19.4% in Seoul, 9.3% in Busan, 7.0% in Daegu, 6.9% in Gyeongnam, and 6.0% in Incheon. Compared to Coupang Eats, where payments are concentrated in the metropolitan area, use in the non-metropolitan area is relatively active.
In particular, Busan accounted for the highest proportion of payments in all five brands surveyed in the non-metropolitan area. In terms of the number of payments made by Busan residents, CU was the highest at 10.2%, followed by GS25 (9.4%), Baedal Minjok (9.3%), and Coupang Eats and Olive Young (7.2% each).
The industry believes that this difference is also related to the difference in the purpose of using the service and the distribution of offline bases. Based on the delivery platform, Coupang Eats is expanding the area of quick commerce such as shopping and convenience store products as well as food, while Olive Young is strengthening its immediate delivery service based on downtown commercial districts and stores. On the other hand, convenience stores and delivery people have dense stores and delivery networks nationwide, so they can be used relatively evenly even in non-metropolitan areas.
Meanwhile, the survey was conducted by WiseApp and Retail to estimate the proportion of payments by residence of major quick commerce brand payers by sampling Korean credit and debit card payments. Account transfer, cash, and gift certificate payments were not included. The brands surveyed were selected as the top five quick commerce retail brands based on the estimated amount of payment.