South Korea Buy Now Pay Later Market Report 2023: BNPL

Dublin, Oct. 20, 2023 (GLOBE NEWSWIRE) — The “South Korea Buy Now Pay Later Business and Investment Opportunities Databook – 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics – Q2 2023 Update” report has been added to ResearchAndMarkets.com’s offering.

BNPL payments in South Korea are expected to grow by 20.9% on an annual basis to reach US$12.4 billion in 2023.

Medium to long term growth story of BNPL industry in South Korea remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 12.6% during 2023-2028. The BNPL Gross Merchandise Value in the South Korea will increase from US$10.3 billion in 2022 to reach US$22.5 billion by 2028.

The Buy Now Pay Later (BNPL) payment sector in South Korea has demonstrated robust growth in the past four quarters, driven by the increasing penetration of ecommerce. This report offers an in-depth, data-centric analysis of the BNPL industry, shedding light on both its promising opportunities and potential risks across various retail categories.

Featuring a wealth of over 75 key performance indicators (KPIs) tailored to the country’s specific landscape, this report provides a comprehensive grasp of the dynamics within the BNPL market. It covers essential aspects such as market size, forecasts, and statistics on market share.

The report further dissects the market’s opportunities, delineating them by business model, sales channels (offline and online), and distribution models. Additionally, it offers a snapshot of consumer behavior and the spending patterns prevalent in South Korea. The KPIs, furnished in both value and volume terms, provide a nuanced understanding of the dynamics at play in the end market.

The research methodology adheres to industry best practices, delivering an impartial analysis that capitalizes on a proprietary analytics platform. This approach furnishes a comprehensive perspective on emerging prospects for business and investment in the market.

Reasons to buy

• Get a comprehensive understanding of market dynamics for Buy Now Pay Later: Identify market opportunities, major trends, and forecasting (2019-2028). Understand market trends through crucial KPIs like Gross Merchandise Value, Volume, and Average Value per Transaction, to stay ahead of the curve.
• Insights by end-use sectors: Evaluate new opportunities across multiple end-use sectors, and obtain market dynamics by end-use sectors in order to swiftly catch up with the latest and upcoming developments in BNPL markets.
• Market-specific strategies: Identify growth segments focused on specific opportunities, and analysing market-specific risks and important trends in the BNPL sector with our exclusive blend of quantitative forecasting and innovative insights.
• Gain knowledge of consumer attitudes and actions: This report identifies and interprets important Buy Now Pay Later KPIs, such as spend by age, gender, and income level, using data from a proprietary survey.
• Develop proactive and lucrative business strategies through market intelligence and forward-looking analysis of BNPL market spend and major opportunities in South Korea.

Scope

South Korea Buy Now Pay Later Market Share Analysis by Key Players

South Korea BNPL Market Size and Spending Pattern, 2019-2028

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

South Korea Buy Now Pay Later Revenue Analysis, 2019-2028

• Buy Now Pay Later Revenues
• Buy Now Pay Later Share by Revenue Segments
• Buy Now Pay Later Revenue by Merchant Commission
• Buy Now Pay Later Revenue by Missed Payment Fee Revenue
• Buy Now Pay Later Revenue by Pay Now & Other Income

South Korea Buy Now Pay Later Operational KPIs & Statistics, 2019-2028

• Buy Now Pay Later Active Consumer Base
• Buy Now Pay Later Bad Debt

South Korea BNPL by Purpose, 2019-2028

• Convenience – Short Term Loans
• Credit – Long Term Loans

South Korea BNPL by Business Model, 2019-2028

• Two-Party (BNPL offered by retailers)
• Three-Party BNPL Offering

South Korea BNPL by Merchant Ecosystem, 2019-2028

• Open Loop System
• Closed Loop System

South Korea BNPL by Distribution Model Analysis, 2019-2028

• Standalone
• Banks & Payment Service Providers
• Marketplaces

South Korea BNPL Analysis by Channel, 2019-2028

• Online Channel
• POS Channel

South Korea Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2019-2028

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

South Korea Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2019-2028

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

South Korea Buy Now Pay Later in Travel/Entertainment: Market Size and Forecast, 2019-2028

• Gross Merchandise Value Trend Analysis
• Average Value per Transaction Trend Analysis
• Transaction Volume Trend Analysis

South Korea Buy Now Pay Later in Services: Market Size and Forecast, 2019-2028

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

South Korea Buy Now Pay Later in Automotive: Market Size and Forecast, 2019-2028

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

South Korea Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2019-2028

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

South Korea Buy Now Pay Later in Groceries: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

South Korea Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

• Sales Uplift by Product Category
• Share by Age Group
• Share by Income
• Share by Gender
• Adoption Rationale

For more information about this report visit https://www.researchandmarkets.com/r/j1vx6h

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• South Korean Buy Now Pay Later Market