Fashion market in South Korea

The South Korean Fashion eCommerce market is predicted to reach US$24,737.4 million by 2024 and accounts for 17.9% of the total eCommerce market in South Korea. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be -0.0%, resulting in a projected market volume of US$24,718.9 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the Suitcases market in South Korea

The South Korean Suitcases eCommerce market is predicted to reach US$148.5 million by 2024 and accounts for 9.5% of the Luggage & Bags eCommerce market in South Korea. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 2.6%, resulting in a projected market volume of US$164.4 million by 2028. The Suitcases eCommerce market is a sub-market of the Luggage & Bags market. Further categories within the Luggage & Bags market are: Backpacks & Daypacks, Handbags, Hip & Fanny Packs, and Other Luggage & Bags.

eCommerce revenue development in the Suitcases market in South Korea

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Suitcases market in South Korea

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)69.221.930.116.198.793.157.163.3

Online share

eCommerce online share of the total Suitcases market in South Korea

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the South Korean Suitcases retail market, the online share is 67.1% and will decrease by an average of 0.5% to 65.9% by 2028.

eCommerce online share of the total Suitcases market in South Korea

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)12.2%0.0%45.4%17.8%16.9%46.0%52.4%6.4%

Market definition

Definition of the Suitcases market within the Fashion market

Market definition: Fashion > Bags & Accessories > Luggage & Bags > Suitcases The category Suitcases includes the online trade of suitcases (e.g. carry-on suitcases, hardside suitcases, softside suitcases, spinner suitcases). This category does not cover backpacks and daypacks and gym bags. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Suitcases (e.g. carry-on suitcases, hardside suitcases, softside suitcases, spinner suitcases)

Out-of-scope

  • Backpacks and daypacks
  • Gym bags

Market comparison

The South Korean Suitcases market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis