Coupang extends support to SMEs with support to local communities

Programmes that support SMEs include the “Good Store” webpage and private label brands.

Coupang has highlighted its success in assisting small and medium-sized enterprises (SMEs) from across the world with programmes such as its “Good Store” webpage and private label brands.

In a recent “ESG Spotlight” report, the Korean e-commerce company has continued its commitment to assisting businesses and strengthening local businesses through various Coupang-exclusive programmes.

Currently, about 70% of Coupang sellers are SMEs with wide networks to millions of customers. With the prominence of small businesses comes the need for support, from marketing to logistics, from customer service to maintenance.

Several of the programmes include the Coupang Private Label Brands, wherein SMEs are given the resources to plan, produce and promote high-quality products.

For example, the Good Store, launched in August 2022 in collaboration with government agencies, local associations and authorities, is a webpage featuring products that focus on livestock and fisheries, startups, women-led businesses, and social enterprises.

Through the Good Store, small businesses that struggled with online sales saw a 40% growth, three times more than other SME sales.

However, progress for Coupang also extends to workers in SMEs. With priority given to the well-being and growth of employees, Coupang’s Health & Safety (H&S) professionals have pursued safety strategies under their four-pillar strategy: safety system, risk management, strengthening safety capabilities, and continuous improvement of safety culture.

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Thanks to the viable growth of small businesses and the promotion towards local communities, Coupang has assisted small businesses in growing over $2.3m in gains every year, the threshold of SME sales. And sales for those assisted SMEs have reached more than $16b.

For the last three years, approximately 7,000 companies on Coupang have surpassed that threshold and remained more significant to the growth of their local economies. This leads small businesses to create an environment of success for local communities.

Recent developments outside Korea include its support of SMEs in Seattle, wherein last September 2022, Coupang co-hosted a conference targeted towards local SME owners and entrepreneurs. This enables the state of Washington to generate hundreds of jobs, millions of connections to Korean customers, and a major economic boost.