Since the personal data leak incident at Coupang, signs of change have emerged in South Korea’s e-commerce market. The absolute dominance of “fast delivery,” long cemented under Coupang’s lead, is showing cracks, and competitors are launching aggressive strategies to draw in customers, analysts say.
In its report titled “The Exodus from Coupang Has Begun,” LS Securities diagnosed that “Coupang’s daily active users (DAU) have fallen by about 9% over the past two months,” noting, “the potential for e-commerce demand to shift is expanding.”
Coupang’s DAU Decline…Customer Compensation Methods Also a Factor in Backlash
According to Orin Ah, an analyst at LS Securities, Coupang’s DAU dropped from 16.25 million in November 2025 to 14.79 million at the end of December. She suggested that the coupons provided as compensation following the personal data breach, which were concentrated in areas with low penetration such as the travel and luxury (R.Lux) categories, appear to have fueled consumer resentment.
“With cracks appearing in Coupang’s fast-delivery structure, consumers are seeking alternatives,” the analyst said. “This may signal not just a temporary departure but a structural shift.”
Naver, 11th Street, SSG.com…E-commerce Counterattack in Full Swing
The beneficiaries of this shift among competing platforms are becoming clear. Naver has taken the lead in new app installs by prominently featuring its “Plus Store” and has moved to secure leadership in the fresh-food sector through a partnership with Kurly.
11th Street saw the number of new customers using its “Shooting Delivery” surge by 229% year-on-year, achieving double-digit growth in key grocery categories. SSG.com also joined the fast-delivery race as its “SSG Delivery” sales rose by 19% in a short period.
“Domestic e-commerce delivery capabilities have now reached a uniformly high level,” the analyst added. “The fact that consumers are experiencing similar services on various platforms besides Coupang marks a meaningful turning point.”
“The Real Challenge Is Securing Long-Term Customers Beyond Short-Term Gains”
The report warns that whether this change will remain a temporary traffic shift or evolve into medium- to long-term customer lock-in could significantly alter the online shopping landscape.
“‘The exodus from Coupang’ may be in its early stages, but the crucial battle ahead will revolve around which player can offer the most reliable delivery experience and differentiated services to secure customer loyalty,” the report concludes.
As Coupang’s market dominance wavers, the analysis that the competitive structure across South Korea’s e-commerce industry is entering a period of reorganization is gaining momentum.