Baemin, Yogiyo see record transaction drop in Feb amid Coupang's rise

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Baemin, Yogiyo see record transaction drop in Feb amid Coupang's rise - Korea Economic Daily

Quick Summary:

Credit card spending across the three major delivery platforms -- Baemin, Coupang Eats and Yogiyo -- also rose 5.7% year-on-year in the first two months of 2025.“Coupang’s aggressive marketing, including free delivery, appears to have played a key role in boosting repeat usage of food delivery services,” said Park Yi-kyung, a data analyst at Hankyung Aisel.

Coupang Eats' active user number jumped from 6.26 million in March 2023 -- when the free delivery service was introduced for paid subscribers -- to 10.26 million as of last month, according to data from Mobile Index, a Korean mobile market tracker.“Order volume more than doubled at regional restaurants in the week following our nationwide rollout of free delivery in May 2024,” said a Coupang official.

Coupang Eats accounted for 37.0% of total credit card spending across the nation’s top three food delivery platforms in February, more than doubling its share from 19.0% a year earlier, according to Hankyung Aicel under The Korea Economic Daily.