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[편집자주] Coupang, an e-commerce (e-commerce) company, debuts on the New York Stock Exchange (NYSE) this week. Coupang’s corporate value, which was known as’catfish’, has been reborn as a’dinosaur’ worth up to 57 trillion won. In the process of listing, Coupang plans to sell 120 million shares and raise up to $3.6 billion (about 4.40 trillion won). It is observed that Coupang’s actions with this as a foothold will have a strong impact on the domestic distribution industry and further to the M&A industry. Hankyung.com investigated the aftermath in the top and bottom of the’Coupang New York Stock Exchange Butterfly Effect.
The distribution war that Coupang triggered is now really gone. ‘Rocket delivery’, which raised Coupang as a powerhouse in e-commerce (e-commerce), has evolved from next-day delivery in the past to’same-day delivery’. Existing distribution companies also responded in various ways. This is because the importance of delivery has increased as the central axis of distribution has completely shifted online with the novel coronavirus infection (Corona 19).
Distribution Price Delivery War… Delivery faster, orders lower
On the 19th, GS Retail announced that it will officially operate a mobile app (operation program) called’Woori Neighborhood Delivery’, a delivery platform that allows the public to participate as delivery agents. Jang Young-eun, who retired after running the GS25 Gwangjang Store for 30 years, is posing after being commissioned as a delivery man for the No. 1’Woori Neighborhood Delivery’. Photo = Provided by GS Retail
According to the distribution industry on the 8th, Lotte Mart’s Jamsil(129,000 +0.78%)‘Lotteon’, an integrated online shopping mall of’Lotteon’, is piloting a’relay delivery’ service that completes delivery within 2 hours when a customer orders. In the case of existing store delivery, the delivery driver took over both driving and delivery of the vehicle, but in the case of’relay delivery’, time was shortened by having a separate’last mile’ delivery person from each regional delivery point to the final destination.
The hypermarket, which is facing Coupang’s offensive, is also considering the introduction of’immediate delivery’. Homeplus, the second largest in the hypermarket industry, started a service that immediately ships products ordered at its own online mall within an hour through the supermarket brand’Homeplus Express’ from last month. E-Mart plans to upgrade its’Shock Delivery’ and’Dawn Delivery’ through SSG.com, an integrated online shopping mall that celebrates its 2nd anniversary, and gradually expand its application areas.
In the convenience store industry, it has been a long time since both CU and GS25 introduced late-night delivery services using walking and delivery apps (operating programs). GS Retail, which operates GS25, introduced its own delivery platform,’Woori Neighborhood Delivery’ (hereinafter referred to as Woodil), a mobile app that allows ordinary people to participate as delivery agents. In the case of CU, 24-hour delivery service is increasing to stores nationwide. This is because the demand for late-night delivery was so high that half (44%) of daily delivery sales at 24-hour delivery service stores occurred between 23:00 and 7 a.m. the next day. In the health and beauty (H&B) store industry, CJ Olive Young is expanding its delivery product group and stores with’Today Dream’, an immediate delivery service within 3 hours.
On the other hand, the home shopping industry is moving toward lowering the hurdles of delivery units. It is a method of delivering large-capacity or bundled products sold in home shopping by dividing the destination or date of receipt. CJ ENM(142,200 -2.13%) CJ Mall, an online shopping mall operated by O Shopping, started’Sharing Delivery’, which distributes some products to two or three locations from November last year. This is to attract customers who were reluctant to purchase products due to large quantities and millennials with a high proportion of one or two households. Hyundai Home Shopping(76,600 -0.39%)Also, it introduced a’half-back delivery’ service for some large-scale foods such as kimchi and gomtang sold in the data home shopping channel’Hyundai Home Shopping Plus Shop’. Goo Cheong-hwan, head of the SCM planning and operation team at CJ ENM’s O Shopping Division, said, “We will improve differentiated logistics competitiveness by implementing customer-oriented services beyond simple speed competition.”
Coupang’s advance of ‘4th group live ammunition’… ‘Rocket living area’ becomes more compact
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The problem is that the’shipping war’ triggered by Coupang is highly likely to intensify in the future. In the industry, it is fueled by the observation that Coupang will make aggressive additional investments in transportation and logistics capabilities and IT development manpower first with funding through listing.
First of all, this is a story that Coupang’s rocket delivery service area expanded to Jeju Island more closely. Coupang plans to sequentially operate six distribution centers, including the Daegu Mega Logistics Center, from this year to 2023. Coupang publicly said, “We will invest $870 million to build seven regional full-filment centers within a few years.”
In addition, Coupang was aggressive in securing IT developers. Last year, Pangyo already established a dedicated office for developers, and recently, an executive (Executive Director) in the artificial intelligence (AI) division of Samsung Electronics’ wireless division moved to Coupang and became a hot topic.
Inside and outside the distribution industry, analysis is continuing that Coupang’s influence will further expand. Naver strengthens the delivery competitiveness of smart stores through a’blood alliance’ with CJ Group (CJ Korea Express)(372,500 -1.32%) It is predicted that the e-commerce camp from the IT industry will also compete in full-fledged self-defense.
Nam Sung-hyun, a researcher at Hanwha Investment & Securities, said, “Coupang has completed the establishment of a logistics network that can respond to the whole country, and its effects will be revealed.”
Mirae Asset Daewoo researcher Kim Myung-ju analyzed that “Coupang’s delivery density will increase further through the establishment of additional logistics centers,” and “It is expected to succeed in turning profitable in 2022 due to the continuous increase in full-filment fee revenue and a drop in parcel delivery costs.”
Reporter Oh Jung-min Hankyung.com [email protected]
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