SEOUL, August 25 (AJP) - Payments on South Korea's four leading food delivery apps climbed to an all-time monthly high in July as a punishing heat wave kept consumers indoors.
According to Tuesday data from market tracker WiseApp Retail, combined estimated payments on Baemin, Coupang Eats, Yogiyo and Ttaenggyeoyo reached 3.28 trillion won ($2.37 billion) last month, up 18 percent from 2.79 trillion won a year earlier.
The figure eclipsed the previous record of 3.20 trillion won, set only in May.
Some 24.41 million people ordered through the platforms in July, spending an average of 134,747 won each across 5.8 transactions, WiseApp said. The average single order came to 23,203 won.
The tracker attributed the growth to sweltering temperatures reinforcing a seasonal surge in dining-out and holiday demand, driving shoppers to their phones rather than to grocery aisles or restaurants.
Aggressive free-delivery offers, discount coupons and membership perks further lowered the cost of ordering in.
Baemin remained the most-used app, with 23.02 million monthly active users, followed by Coupang Eats at 13.13 million, Yogiyo at 3.55 million and Ttaenggyeoyo at 2.49 million.
Coupang Eats posted record highs in both payments and users, sharpening a price war fought largely over shipping fees.
The survey draws on a sample of Koreans' credit and debit card spending and app usage across Android and iOS devices. It excludes bank transfers, cash and gift-certificate payments, so the estimates may differ from companies' actual sales.
AJP Takeaways
• South Korea's four main delivery apps — Baemin, Coupang Eats, Yogiyo and Ttaenggyeoyo — took a combined 3.28 trillion won ($2.37 billion) in estimated July payments, an all-time monthly high, according to WiseApp Retail.
• The total rose 18 percent from 2.79 trillion won a year earlier and topped the prior record of 3.20 trillion won set in May, with 24.41 million people ordering at an average of 134,747 won each.
• Coupang Eats set record highs in both payments and users, reaching 13.13 million monthly active users against market leader Baemin's 23.02 million, as free-delivery competition intensified.
Copyright ⓒ Aju Press All rights reserved.