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Coupang (photo = Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Coupang will raise the monthly fee for the paid membership Wow service from the current 4,990 won to 7,890 won.
However, there are also observations that the members may leave as Coupang, which has secured as many as 14 million Wow members and has strong market dominance, starts to raise the price of its guts.
Coupang announced on the 12th that it will change its monthly fee for its paid membership service 'Wow Membership' from 4,990 won to 7,890 won. The fee will be applied to new members from the 13th immediately. The new fee will be applied to existing members starting in August this year through sequential guidance. Wow Membership is a service launched by Coupang in October 2018 and offers various benefits such as free delivery, return and online video service (OTT). Coupang changed its fare from 2,900 won at the time of its launch to 4,990 won in December 2021, up 72.1 percent, and raised 58.1 percent this time.
Coupang recently countered by saying it would invest twice the amount of KRW 3 trillion when Chinese retail giant Alibaba announced that it would invest about KRW 1.5 trillion in the domestic market through Ali Express. In addition, Coupang announced on the 18th of last month that it would provide free delivery fees for Coupang Eats, a food delivery service, to WOW members.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
