Coupang Partners with the Department of Commerce's International Trade Administration to Help American Businesses Sell Overseas
Selected Companies Will Receive Instant Purchase Order and Support to Sell on Coupang, the Most Frequently Used Shopping App in South Korea
Coupang, Inc., a U.S. technology and Fortune 200 company, today announced Rocket Pitch, an innovative opportunity for U.S. sellers to pitch and sell consumer goods overseas. Coupang, which drives the sale and export of $4 billion annually in U.S. products, is partnering with the International Trade Administration to open new revenue streams abroad for American companies.
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U.S. businesses and suppliers can register now through April 30 for a chance to pitch U.S.-made products at a virtual event co-hosted by Coupang and the International Trade Administration's U.S. Commercial Service. Selected participants will secure instant purchase orders from Coupang and receive expert guidance from U.S. Commercial Service trade specialists. Coupang's retail team will also offer assistance with marketing, translation, logistics, customs clearance, last-mile delivery, customer service and returns.
Outsized Opportunity in Korea for U.S. Businesses
U.S. businesses recognize the lucrative opportunity to launch e-commerce products in South Korea. The country ranks as the fourth largest e-commerce market in the world, with 98% of South Koreans aged 20-39 shopping online. Coupang's innovative technology and fulfillment infrastructure enables it to offer same-day, next day and delivery by dawn for orders placed before midnight.
"Coupang makes global expansion easy for U.S. sales partners of any size, and we have all the tools you need to be a success at cross-border trade," said Jonathan Burks, Coupang's Vice President of Global eCommerce. "Over the past decade, we have simplified the process to enter global markets, and this program is just one more way that we help American companies grow. Coupang is partnering with the U.S. government to support entrepreneurs, power exports globally and leverage the innovative assets that Coupang is driving throughout the United States."
Rocket Pitch Details
The U.S. Department of Commerce's ITA, U.S. Commercial Service, and Coupang formed a strategic partnership to support American businesses and streamline exports through the Rocket Pitch program. It will focus on key product categories including food and beverage, health supplements, baby care, sports nutrition, and personal care products. Selected participants will be invited to make their pitch virtually May 21-22. For more information, visit Rocket Pitch.
About Coupang
Coupang is a technology and Fortune 200 company listed on the New York Stock Exchange (NYSE:CPNG) that provides retail, restaurant delivery, video streaming, and fintech services to customers around the world under brands that include Coupang, Coupang Eats, Coupang Play and Farfetch.
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