+ A

Coupang reports record weekly sales in November

Nov 25,2017
Coupang, a Korean e-commerce platform, posted record weekly sales in the first week of November, the company said Friday.

Sales jumped 16 percent compared to the first week in July and 8 percent from the first week of September, the company said, without revealing the exact figures.

Coupang also said its Rocket Delivery service, in which orders are delivered within 24 hours, recorded an all-time high daily volume on Nov. 2.

“The improved sales record is the result of Coupang’s continuous research into enhancing customers’ experience,” the company said in a statement. “Our quick and reliable Rocket Delivery service was able to generate high satisfaction among consumers.”

Coupang has struggled to generate profit, having recorded a more than 1 trillion won ($921.2 million) operating loss in 2015 and 2016. In its effort to drive up profitability, the company attempted new businesses this year like opening new categories in the shopping section and launching an in-house brand called Tamsaa.

By Jin Eun-soo