Coupang is committed to unlocking a better world for everyone in our ecosystem. This includes the hundreds of thousands of small merchants who earn their living on Coupang, leveraging our nationwide logistics infrastructure and technology to reach more customers and grow their businesses. When the pandemic hit last year, small businesses, particularly in regional areas, were disproportionately impacted. True to our commitment, we leapt to action, launching the “Cheer Up, Korea!” campaign to revive local economies and add yet another layer of support for these small businesses.
With Cheer Up, Korea!, Coupang supported a total of seven regions and cities including Daegu, Gyeongsangbuk-do, and Chungcheongbuk-do. The support came in the form of expanded sales channels, advertisements, and promotion activities for small business owners in those regions. As a result, their revenue on Coupang grew 121% year on year. This is almost twice as high as the average growth rate of the regions across the nation that did business with Coupang. In particular, Gyeongsangbuk-do, which faced enormous difficulties as the spread of the virus got out of control at the beginning of the pandemic, posted a year-on-year growth rate of 244%, the highest in the entire country, thanks to Coupang’s robust support.
“Last year was nothing short of a miracle,” explains Jin Cheol Choi, CEO of food manufacturing company Sias. The company’s sales, which had been in freefall due to the sudden onslaught of COVID-19, rebounded and even increased as Sias partook in Coupang’s support program for small businesses. After launching its salad and frozen meal products on Coupang’s Rocket Fresh, its sales skyrocketed 400% over the previous year. Choi said that because Coupang directly bought his products, he was able to focus solely on producing quality products.
“Working with Coupang created jobs,” chimes in Chil Sik Yang, CEO of Soonsu Korea, a wet tissue manufacturer in Gyeongbuk that participated in the campaign. At the beginning of the pandemic, its sales suffered due to its location in an economically-distressed region. But after its participation in Cheer Up, Korea!, Soonsu Korea’s sales rose 600% from the previous year, helping the company recover from the crisis.
