Coupang will continue to make long-term investments in innovative technology services to impress customers. Coupang said in an external audit report on April 15 that it achieved 4.42 trillion won in sales last year.
It is the largest amount of sales in South Korea's e-commerce history. The pace of growth has been faster, with sales growth jumping from 40 percent in 2017 to 65 percent last year. Coupang's operating loss came to 1.097 trillion won in 2018.
Coupang increased the number of logistics centers in 12 regions across the country to 24 last year. The 370,000-pyeong size of logistics infrastructure is a key facility for rocket delivery, an overnight delivery service that will be delivered the following day if ordered by midnight. Last year, Coupang hired 24,000 people directly or indirectly, and spent 986.6 billion won on labor costs.
Coupang also made various investments to impress customers last year. The number of rocket-delivery Selections, which was 58,000 in 2014, increased to 5 million in 2018. It is 100 times more than 50,000 large discount stores. If you order such diverse products by midnight, they ship them to you on the next day, 365 days a year.
Coupang started selling its products directly with popular global brands such as Apple, AmorePacific and Lego. Last year, the sales growth rate of home appliances and digital products was particularly noticeable. Selectivity for home appliances and digital products increased eight times compared to last year and has grown to about 380,000 products. Sales also doubled.
Launched in October last year, the rocket Fresh has expanded to most parts of the country in 12 weeks of its launch with a service that delivers fresh food ordered by midnight before 7 a.m. The national service is available only in Coupang, where you can receive a wide range of fresh foods at dawn, from milk and fruits to breakfast substitutes.
Coupang CEO Bom Suk Kim said, We have been making huge investments to impress our customers. Now Coupang customers are getting fresh food delivered from anywhere in the country until 7 a.m. We will continue to invest aggressively in technology and infrastructure until customers say, 'How did I live without Coupang?'"