Gmarket said Thursday that its gross merchandise volume for the first half of this year posted year-on-year growth for the first time in four years, driven by simultaneous gains in customer purchasing power, seller competitiveness and its global business — the results of a large-scale investment push launched last year under a five-year plan to double GMV.
The G-market site, which received the bulk of the investment, saw first-half GMV rise 14 percent year-on-year, leading overall growth. Average monthly spending per customer climbed 12 percent from a year earlier, while GMV from direct visits — excluding traffic from price-comparison sites and other external channels — grew 5 percent. The purchase conversion rate rose 14 percent, reflecting stronger platform loyalty among core customers.
The seller ecosystem is also recovering quickly. As of July 1, Gmarket had 660,000 sellers, up 5 percent from a year earlier. The number of high-earning sellers generating monthly sales of 50 million won ($32,800) or more rose 6 percent. Gmarket attributed the seller growth to its annual 500 billion won seller investment policy, which includes full subsidies on large promotional coupon costs and the elimination of commission fees on seller discount coupons.
The global cross-border export business is also expanding rapidly. First-half GMV more than doubled compared with the second half of last year. About 17,000 sellers are currently participating, offering about 30 million products to markets in Southeast Asia.
Gmarket plans to sustain strategic investment in the second half to accelerate market share expansion based on GMV growth. The company will overhaul its seller commission policy within the third quarter. Starting next month, it will introduce a free returns service on Star Delivery products for members of its "Kkok" membership tier. AI-powered hyper-personalized product search and recommendation features are also set to launch in the second half.
James Jang, chief executive of Gmarket, said the first half was a period that confirmed the potential of the company's growth strategy through strategic investment. "Going forward, we will focus on what truly matters to customers and sellers rather than short-term results, and continue building our long-term competitiveness," he said.
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