Coupang Reports Record High Payments in July; Coupang Eats Sees Significant Growth

Coupang and Coupang Eats both recorded their highest estimated payment amounts last month. Analysts suggest that customer spending at Coupang is rapidly recovering following a data breach incident at the end of last year.

According to retail analysis service WiseApp & Retail, Coupang's estimated monthly payment amount for July was 6.11 trillion won, a 6% increase from 5.76 trillion won in the same month last year, marking the highest monthly figure to date.

Coupang's payment estimates had declined following the data breach incident in late November last year. However, as customer usage and payment volumes gradually recovered this year, the company surpassed its previous record last month.

Coupang Eats also continued its growth trend, with an estimated payment amount of 1.18 trillion won last month, up 21% from 980 billion won in the same month last year. Coupang Eats also set a new record for monthly payments.

This survey was conducted by WiseApp & Retail, which estimated the payment amounts based on a sample of credit and debit card transactions by South Koreans. It does not include payments made via bank transfers, cash, or gift certificates, so there may be discrepancies with individual companies' actual sales figures.

Meanwhile, Kim Beom-seok, Chairman of Coupang Inc., stated during a conference call on second-quarter earnings that customers who left after the data breach are returning. He noted, "Customers who left are coming back, and their spending levels are recovering," adding, "We will expand our product range and improve services to help customers save more time and money."