SEOUL (Reuters) -South Korean retailer Shinsegae Group's E-Mart Inc said on Thursday it plans to acquire an 80% stake in eBay Inc's South Korean business for 3.4 trillion won ($3 billion). With the deal, traditional retail giant Shinsegae gets a much-needed boost in the Korean e-commerce sector, where it has lagged after competitors such as No. 1 Coupang, while eBay Korea gains a powerful backer after years of underperforming, analysts said. EBay will retain a 20% interest in the Korean business, whose implied value is approximately $3.8 billion, eBay said in a statement.
Sucharita Kodali, Forrester Research Retail Analyst, joins Yahoo Finance Live to discuss Amazon looking to replicate China's 11/11 success, retailers competing with Amazon Prime Day and the future of e-commerce.