As Coupang raises its Wow Membership monthly fee for existing members from 4,990 KRW to 7,890 KRW starting next month, the e-commerce industry is closely watching for the potential emergence of 'Quit-pang' members (members quitting Coupang).
According to Coupang on the 8th, the monthly fee for new Wow Membership members was increased to 7,890 KRW from April 13.
When announcing the fee increase plan on April 12, Coupang notified that the monthly fee for existing members would be raised starting in August.
Members whose Wow Membership payment date is on the 1st of every month will pay 7,890 KRW on August 1, and those whose payment date is at the end of every month will pay on August 31.
To prevent Wow Membership members from leaving, Coupang is making every effort to retain members by offering various benefits such as discounts on essential items.
Coupang's parent company, Coupang Inc., has maintained a stock price in the $20 range on the New York Stock Exchange since mid-April. Coupang's stock was trading at $21.67 as of the closing price on the 5th.
Investors expect that even if there are members who quit due to the fee increase, Coupang's profitability will improve with the expansion of paid income.
Competitors of Coupang are strengthening their membership benefits to attract 'Quit-pang' members to their platforms.
There is also a possibility that Coupang's move could change the competitive landscape of the e-commerce market.
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Coupang to Increase Membership Fees for Existing Members Next Month...Focus on Potential 'Quit-pang' Members
As Coupang raises its Wow Membership monthly fee for existing members from 4,990 KRW to 7,890 KRW starting next month, the e-commerce industry is closely watch
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