Coupang and Gmarket See Slightly Wider MAU Gap as Payment Gap Expands to 15.6 Times
IT DAILY · · 12 views
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Comparing Coupang and Gmarket, the gap in card payment volume widened more than the gap in users from September 2025 through this September.
Gmarket's MAU rose 0.4% from 6.61 million to 6.63 million, but its estimated credit and debit card payment volume fell 30.0% from KRW 444.1 billion to KRW 310.9 billion.
Over the same period, Coupang's MAU increased 4.4% from 34.15 million to 35.65 million, and its estimated card payment amount rose 3.9% from KRW 4.6732 trillion to KRW 4.854 trillion.
An analysis by this paper of IGAWorks Mobile Index data on the 13th found that the gap in card payment volume between Coupang and Gmarket widened more than the gap in user numbers from September 2025 through this September. This article compares the scale of users and card payment flows at Coupang and Gmarket.
The figures show that Gmarket maintained its MAU at about the same level as a year earlier. Gmarket's MAU rose from 6.61 million to 6.63 million, for a gain of 0.4%. Coupang, meanwhile, saw its MAU increase.
By contrast, Gmarket's estimated credit and debit card payment volume fell from KRW 444.1 billion to KRW 310.9 billion, a decline of 30.0%. Gmarket's estimated card payment amount fell 30%, while Coupang's estimated card payment amount increased. As a result, Gmarket largely held onto its user base but saw a sharp drop in estimated card payments.
However, the payment data were calculated based on credit and debit cards, and other payment methods were not included. For that reason, the estimated payment amount may differ from actual sales or actual payment amounts.
Coupang saw both its user count and estimated card payment amount rise over the same period. Coupang's MAU increased 4.4% from 34.15 million in the same period to 35.65 million, and Coupang's estimated card payment amount rose 3.9% from KRW 4.6732 trillion to KRW 4.854 trillion.
The relative gap between Coupang and Gmarket also widened further. Coupang's MAU multiple over Gmarket rose from 5.2 times in September last year to 5.4 times this September, slightly widening the gap. Coupang's estimated card payment amount multiple over Gmarket also widened from 10.5 times to 15.6 times over the same period.
On a monthly basis, the difference in the pace of recovery between user counts and payment amounts was evident. Gmarket's MAU fell 16.3% from 7.31 million in May to 6.12 million in June, and Gmarket's estimated card payment amount fell 34.2% over the same period from KRW 430.9 billion to KRW 283.7 billion.
Gmarket's user count then rose to 6.11 million in July, 6.16 million in August, and 6.63 million in September. Gmarket's MAU in September last year was 6.61 million, a level similar to this September.
By contrast, Gmarket's payment amount recovered more slowly than its user count. Gmarket's estimated card payment amount rebounded from KRW 247.7 billion in August to KRW 310.9 billion in September.
Still, Gmarket's estimated card payment amount this September was KRW 133.2 billion short of the same month last year. Its user count came close to last year's level, but even after recovering from August, payment volume still fell short of the same month a year earlier.
Mobile Index released its 'E-Commerce September 2026 Issue' on the day. The data show that app usage indicators and payment indicators did not always move in the same direction.
At Gmarket, app usage frequency and payment volume moved in opposite directions. Gmarket's average monthly app usage days rose from 10.3 days in September last year to 11.1 days this September. By contrast, Gmarket's per-payer spending fell 28.6% from a year earlier.
Coupang also showed mixed trends across some indicators. Coupang's number of payers fell 1.5% from a year earlier. However, Coupang's per-payer spending rose 5.5% from a year earlier, and Coupang's estimated card payment amount also increased 3.9%.
A decline in estimated card payments despite user growth was also seen at other shopping apps. AliExpress's September MAU was 7.78 million, up 8.3% from a year earlier. Temu's September MAU also rose 6.2% from a year earlier to 7.6 million.
However, AliExpress's estimated card payment amount was KRW 67.2 billion, down 36.9% from a year earlier. Temu's estimated card payment amount also came in at KRW 58.4 billion, down 5.5% from a year earlier.
Naver Plus Store's September MAU was estimated at 8.87 million, up 88.5% from a year earlier and marking a standout increase.
By contrast, the estimated card payment amount for 12 major online shopping companies in September was KRW 6.6805 trillion, down 2.1% from a year earlier. The decline was seen at 9 companies excluding Coupang, Daiso, and Lotte Homeshopping, and declines at Gmarket, 11st, and Auction accounted for 75.6% of the total drop.
Source: IT DAILY · Kim Byeong-ju
Original: https://www.itdaily.kr/news/articleView.html?idxno=242163
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Source: IT DAILY
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