Coupang, a major South Korean e-commerce company, has recently announced a significant price increase of 58% for its WOW membership, raising the monthly fee from 4,990 won to 7,890 won. This decision has sparked a variety of reactions among consumers and market observers. 쿠팡 멤버십 가격 인상
The price increase is seen as a strategic move to boost profitability in the face of intensifying competition, particularly from Chinese e-commerce platforms like AliExpress and Temu, which have been aggressively targeting the Korean market with promotional campaigns and free shipping offers (Maeil Business Newspaper) ). Coupang’s WOW membership, akin to Amazon Prime, offers a range of benefits including free delivery, direct purchases, free returns, and access to their own OTT service, Coupang Play. The membership provides about ten distinct benefits, which also include exclusive product discounts and same-day delivery options (Maeil Business Newspaper). 윤과장의 소소한 일상 이야기
This price adjustment is not the first for Coupang; the company had previously raised its membership fee from 2,990 won to 4,990 won in December 2021. Despite initial concerns over potential subscriber churn, the membership numbers grew from 9 million to 11 million within a year following the 2021 price hike. Similarly, the company hopes to manage any potential subscriber losses this time around and capitalize on the additional revenue generated by the increase (Maeil Business
Newspaper).
The response from consumers is mixed. Some view the increased cost as justifiable given the breadth of services offered, which are still competitively priced compared to standalone subscriptions to other premium OTT services like Netflix, YouTube Premium, or Disney+ (Maeil Business Newspaper). Others feel the price hike reduces the attractiveness of Coupang’s offer, especially when compared to free services provided by competitors.
Overall, this price increase reflects Coupang’s ongoing efforts to balance customer retention with profitability enhancements in a highly competitive e-commerce landscape.