"Premium e-commerce" targeting consumers who buy high-priced products online is emerging as a new trend. The e-commerce market, which had prioritized price competitiveness such as lowest prices and free shipping, is now becoming segmented according to consumers' tastes and purchasing power.
According to the industry on the 8th, e-commerce services with an average purchase amount per transaction (average order value) exceeding that of department stores are appearing one after another. A representative example is "The Hyundai High," an online mall launched by Hyundai Department Store in April. Since its launch, The Hyundai High has recorded an average order value of 240,000 won. This exceeds the average purchase amount at offline department stores in May, which was 143,055 won as compiled by the Ministry of Trade, Industry and Energy, by about 100,000 won. Unlike "purchase per person," which grows even when low-priced products are purchased multiple times, the amount per transaction measures how much a customer actually spends in a single payment.
The top-selling products for the first half of the year, disclosed on The Hyundai High application (app), included a Bugaboo stroller priced at over 900,000 won and a Coach shoulder bag priced at 720,000 won. A Hyundai Department Store official said, "Since the launch, products such as refrigerators in the 30-million-won range, scooters in the 20-million-won range, and a Hungary travel package to watch Formula One (F1) in the 10-million-won range have also been among the top sellers." As a result, sales at The Hyundai High from its launch through the 1st of this month rose 54% compared with the combined sales of its predecessors, The Hyundai.com and Two Home, during the same period last year.
29CM, the fashion and lifestyle platform of Musinsa dubbed the "post-department store," also recorded an average purchase amount per transaction in the mid-to-high 100,000-won range for its fashion category in the first half of this year, according to internal estimates. 29CM is an e-commerce platform where designer brands are strong, and it has recently been applying its high-end strategy to furniture and other categories beyond fashion. Its scale is also growing to the level of a department store. 29CM's annual transaction value surpassed 1 trillion won in 2024, recording 1.3 trillion won last year. This is equivalent to the eighth-ranked store among department stores nationwide by sales as of last year.
E-commerce companies that started from TV home shopping have also revised their strategies to position themselves as premium e-commerce. According to WiseApp·Retail, CJ ONSTYLE, Lotte Homeshopping, and Hyundai Home Shopping all recorded average order values exceeding 150,000 won last year, ranking first through third. In particular, CJ ONSTYLE was the only one in the survey to exceed 200,000 won, with an average order value of 200,594 won. A CJ ONSTYLE official said, "Our internally measured average order value exceeds this," adding, "The average order value per transaction in the premium beauty segment is around 240,000 won."
A common feature of e-commerce platforms with high average order values is that they invest in product curation. The strategy focuses on carefully selecting products that match customers' tastes instead of value for money. An industry official said, "Consumers who value taste weigh their discernment and value over price, because products express their identity," and added, "It is important not simply to sell expensive products, but to have brands and products suitable for these consumers and to build trust."
The industry expects the premium e-commerce market to expand further as generations familiar with e-commerce grow into the mainstream consumer base. Another official predicted, "The 'e-commerce native' generation, which is accustomed to online shopping, now has purchasing power," and added, "Unlike the existing retail formula of buying high-priced products offline and low-priced products online, the pattern of buying products that match one's taste across both online and offline channels will expand."
