Gmarket sees 22 percent rise in number of active sellers

[Courtesy of Gmarket]

South Korea e-commerce platform Gmarket announced on Tuesday that its cumulative seller count increased by 22 percent in 2023, attributing the growth to a twofold rise in new sellers.

The number of active sellers also continues to grow at an average of 20 percent per month, and the increase in active sellers signifies a continuous influx of sellers generating sales on the Gmarket and Auction platforms.

The count of active sellers is a crucial metric directly linked to the platform’s competitiveness and transaction volume. Gmarket and Auction boast about 600,000 sellers currently, including small and medium-sized businesses.

Gmarket attributes the growth in seller numbers to various seller support initiatives, such as being the first in the industry to introduce a fast settlement service in 2014, and major discount promotions like Big Smile Day have also played a significant role. According to Gmarket, each edition of Big Smile Day sees an average of over 30,000 sellers participating in the event, resulting in an average sales increase of over 5 times (437 percent) compared to regular days.

Other major sales events during holidays such as Lunar New Year and Chuseok also contribute to a substantial increase in participating sellers’ revenue, averaging over three times the regular sales volume.

The upcoming “2024 Lunar New Year Big Sale,” scheduled from January 22nd to February 6th, 2024, is expected to attract more than 30,000 sellers.