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Gmarket offers cheap & trendy clothes online

06
Oct '06
Gmarket Inc has recently launched a Web site that has quickly become a top online destination in this computer-savvy nation.

The company offers online the trendy clothes aimed at young women at rock-bottom prices, in addition to a variety of tools to make it easier for sellers to set up shop and manage inventory.

Besides, Gmarket handles payments and generates its revenue from transaction fees that vary depending on the product. For consumers, it offers the variety of a shopping mall.

With its fixed prices using an auction format, Gmarket is able to take advantage of South Korea's well-established Internet infrastructure and payment systems to offer a special way for merchants to sell online.

Gmarket's site had a turnover of 543.8 billion won (US $567 million), in the second quarter of this year, which is an increase of 163 percent from the same period last year.

The site has more than 9.2 million registered users in a country of 48 million people, most of whom are women in their 20s and 30s.


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