According to data from mobile app analytics service Wiseapp Retail Goods on Tuesday, AliExpress, Temu, and other major Chinese cross-border e-commerce platforms recorded a total transaction volume of 2.
This figure is based solely on consumer payment records, including credit cards, debit cards, and other forms of consumer payments. When including corporate card transactions, business-to-business transactions, and payments made through mobile payment platforms, the total transaction volume is estimated to exceed 3 trillion won.
AliExpress has experienced rapid growth in transaction volume since it intensified its efforts to target the Korean market, such as appointing actor Ma Dong-seok as a brand ambassador in March Transactions amounted to Temu, which entered the Korean market in August last year, has also shown significant growth.
Monthly transactions, which were 1 billion won when it first launched in Korea, nearly reached 20 billion won by the end of last year. Last month, it recorded approximately Shein, another Chinese e-commerce player known for its low-priced fashion items, and TikTok Shop, are also intensifying efforts to expand their presence in Korea.
With increased regulations on Chinese e-commerce in the U. Recently, TikTok announced plans to hire over 40 employees for sales, business development, advertising, and e-commerce partnerships in Korea. TikTok Shop, a live commerce platform that combines video and shopping, allows users to instantly purchase products they see in videos. After entering the U. According to business analysis firm Fit Small Business, In the retail industry, concerns are growing that the combined force of AliExpress, Temu, Shein, and TikTok Shop, backed by their substantial financial resources from the Chinese domestic market, could dominate the Korean e-commerce market within a few years.
