Naver Plus Store users grow in December as Coupang crisis deepens

(Naver)

South Korea’s Naver Plus Store saw the number of its users surge in December, following a decline in Coupang Inc.’s user base after a massive data breach.

According to market tracker WiseApp·Retail on Monday, Coupang’s monthly active users (MAU) fell 0.3 percent on month to 34.28 million in December. The decline followed a major data breach in late November, when Coupang revised the scale of leaked personal information to 33.7 million cases, although the impact on user numbers was more limited than some analysts had expected.

User numbers dropped more sharply at second- and third-ranked platforms AliExpress and 11Street Co.

AliExpress had 8.82 million users in December, down 11.1 percent from the previous month, while 11Street saw its MAU fall 7.1 percent to 8.18 million.

Analysts attributed the declines in part to a pullback after strong gains in November, when large-scale deals such as Single‘s Day boosted traffic. AliExpress and 11Street had recorded monthly user growth of 9.1 percent and 15.2 percent, respectively, during that period.

Naver Plus Store, in the meantime, reported rapid growth, with MAU rising 11.5 percent from the previous month to 6.44 million in December.

Although it remains sixth among general e-commerce platforms, Naver Plus Store reduced its gap with the second- and third-ranked players to just over 2 million users, from more than 4 million a month earlier.

Industry analysts suggest that many users leaving Coupang, AliExpress, and 11Street are migrating to Naver Plus Store, cementing its status as a formidable challenger in the country’s crowded e-commerce market.