Why Is Small E-Commerce Business Popular In North Korea?

Low barriers to entry

Many small e-commerce businesses in North Korea are not too difficult to start, nor do they require very much money to get off the ground. There is already enough of an audience for your product or service, so there is potential market size without having to invest heavily in marketing or business strategies.

It’s also worth noting that most countries don’t have strong anti-trust laws, making it easy to enter into competition with other similar businesses. This helps keep overall prices low, which can be another reason why people begin shopping online in the first place!

In fact, some studies suggest that up to 70% of all web purchases were made online before cash was easily accessible. With no need to worry about carrying large amounts, more people began buying things digitally. Therefore, even if you aren’t able to capitalize on this trend yet, one day could potentially be yours.

Easy Financing

Kim Jong Un has made it very easy for anyone to start their own business in North Korea. He offers extremely low-interest rates and no up-front fees or costs for opening an online shop.

He also encourages people to exchange their products with other sellers, which is very common on most e-commerce platforms. This helps you get more exposure for your brand while giving others a chance to grow theirs!

Many of his top sponsors are self-made businessmen who use their resources and experience to improve their communities. They're seen as true patriots that contribute greatly to the country they live in.

This admirer attitude towards small businesses contributes heavily to the popularity of small e-commerce stores in North Korea. More people feel able to go after what they want because there aren’t too many barriers keeping them back.

Low government interference

There are many reasons why small e-commerce businesses have taken off across North Korea, with some even becoming very popular. One of the biggest is that there’s little or no regulation when it comes to starting an online business in the country.

There aren’t too many restrictions on what you can sell and how much money you can make, either. Since most goods are imported onto the market via China or Russia, there are not any import fees or taxes that apply.

Another reason why they’ve got such a big market share is that virtually anyone with access to the internet can start their website and begin selling products through them.

Not only does this mean that people who may be struggling for other means can still earn some income, but it also gives more people the chance to go into business for themselves. Many see small e-commerce as a way to get out of debt or manage their spending, while others just like the challenge of running their own company.

Western products are popular

Some reports suggest that it is the wide availability of western goods online that has helped contribute to the growth of small e-commerce businesses in North Korea.

It seems that many people in North Korea now have access to the internet, making it possible for them to purchase things such as mobile phones, laptops, or software like Microsoft Office or Photoshop.

These things are highly sought-after commodities in the country, and they’re relatively inexpensive too!

So even if someone doesn’t necessarily have much money, they can still get what they want. It’s very common to see groups of young people gathered around a laptop member using Google to look up information about how to do something productive with his/her new smartphone.

There was once a time when this wouldn’t be possible, but today it is. This shows us just how accessible the internet has become in North Korea.

Price is not a factor

In a communist state that heavily monitors its population, there are few secrets to running an e-commerce business. People have seen it done before and can easily be influenced by you as an entrepreneur, so there is less resistance to giving your business a try.

Many small businesses are operating within the borders of North Korea including those selling clothing, gadgets, and even fake medicine or dietary supplements. All of these products are cheap and oftentimes free due will the government having them on sale.

These businesses cater to mostly young people who prefer buying things online rather than at a store because it is cheaper. Due to the low prices, most people don’t feel too guilty about spending money while also supporting the economy through purchases.

It is important to remember that just like any other type of business, what works today may no longer work tomorrow. So, stay informed by reading up on best practices for running an efficient e-commerce site and marketing strategies to see if this model would still work in the future.

There are many online stores

There are several reasons why small e-commerce is so popular in the DPRK. The first one is that it offers an easy way to earn revenue. Almost anyone can start their own business if they have a smartphone with them and some form of internet access.

There are also no restrictions on what you can sell – as long as it is legal, you can start your store! This includes things such as cosmetics or electronics, for example.

It’s even possible to make money by selling fake merchandise - although this may not be ideal when you consider how hard the government works to keep people informed about real products.

The government supports small businesses

There are many theories as to why there is an explosion of online shopping in North Korea. Some say it’s due to the country’s rich history of paper economies that have now been replaced with digital ones.

Another theory is that since the beginning of his rule, Kim Jong-un has encouraged self-reliance through economic development. He believes that people should be their bosses, so he gives them incentives to do so by offering supportive services and tools.

There are not many regulations

While there are some regulations put into place to make sure you are buying enough food, none of them relate to how large an inventory you have or whether or not your business is legal. This allows most anyone with a smartphone to start selling online.

There are also no minimum purchase requirements before businesses can sell on the internet. This is helpful for individuals and small groups that may want to begin shopping online but cannot afford larger purchases at first.

The government does monitor certain websites very closely, so if someone reported being unhappy with their service then it would be flagged and investigated. However, this only happens rarely and never includes looking at individual sellers’ pages.

There are many famous brands

Many people in North Korea have their favorite small e-commerce business sellers that they frequent to purchase products or services from them. These businesses have become popular enough that there is now even an online marketplace for individuals to buy and sell their goods through!

Many of these companies have very recognizable logos and brand identities that help them gain popularity with South Koreans and other Western nations’ customers. Some of these brands include big-name corporations like Amazon, but some are much smaller.

There are several reasons why these small e-commerce sites are so well known in the country. Some of it has to do with their low prices, excellent customer service, and quality merchandise that does not look cheap.

But perhaps one of the biggest reasons why these businesses remain successful in the region is due to how patriotic they promote themselves and the nation they represent.