CreatripTeam

Chinese cost‑focused C‑commerce platforms, led by Shein, are rapidly gaining users in South Korea by undercutting prices. Shein’s monthly users surged to about 2.62 million in August, while domestic mid‑price apps like Zigzag, Musinsa and Ably saw much slower growth. Shein’s low average order value (about ₩56,000–₩67,000) lets it compete directly with Korea’s mid‑price female fashion platforms, pressuring their revenues and trust. Several domestic players have seen steep declines in sales and even entered restructuring; Brandi operator Newnex began rehabilitation after revenue collapsed. Ably faces heavy accumulated losses (called 결손금) and negative equity (자본잠식), though the company stresses rising GMV (gross merchandise value) and investments for future profitability. Industry experts say simply matching low prices won’t suffice — Korean platforms need stronger branding, product planning and content to differentiate from C‑commerce and restore consumer trust.