As the non-face-to-face consumption culture spread due to the novel coronavirus infection (Corona 19), one of the topics in the distribution industry last year was’live commerce’. It gained popularity thanks to the advantage of being able to enjoy shopping like content while viewing product information in real time on mobile and communicating in both directions. In particular, the related market expanded significantly as Naver introduced’Shopping Live’ last year, where anyone can easily broadcast live anytime, anywhere. Competition is expected to accelerate as many companies such as Coupang and 11st are expected to launch live commerce platforms this year.
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According to the industry on the 2nd, Coupang launched the’Coupang Live Creator’ app on the Google Play Store last December and opened a related web page to introduce a live commerce service. The service is still in preparation and is expected to be officially released earlier this month.
Coupang Live is a platform that can explain and sell products to customers using a real-time streaming service, and it tried to differentiate itself through’creator’ and’vendor’. In particular, creators, even if they are not sellers, communicate with customers in live broadcasts and introduce products. Even ordinary people who are not experts can conduct the broadcast after a certain screening. Creators receive a percentage of the sales amount as revenue. Vendors are sellers who sell products in Coupang and can directly run live broadcasts or commission creators to promote their brands and products.
11st also announced the launch of a live commerce platform earlier this year. 11st has already been operating the live broadcast’Live 11′ as a beta service since last year, and in particular, conducted various broadcasts at the ‘2020 Eleventh Festival’ held in November last year. At that time, 11th Street held a total of 42 live broadcasts over 11 days, and more than 140,000 people watched it. In particular, the’Visible Eleven Days’ broadcast on November 11 recorded 22,000 viewers, 52,000 chats, and 90,000 likes during the 1-hour broadcast.
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In addition to these, major platform companies such as Naver and Kakao have entered the market early and are actively operating services. Naver provided a live commerce tool to smart store sellers who entered Naver Shopping in March last year, and officially launched it as’Shopping Live’ in July last year. Shopping Live is leading the market with a cumulative number of views of 45 million after 4 months of launching the service, and as of November last year, the amount of transactions increased by 340% compared to the early days of the service. In particular, the commission is also at 3%, the lowest level in the industry, and it is being evaluated that it has greatly reduced the barrier to entry for small and medium-sized businesses.
Kakao Shopping Live also started its beta service in May last year and was officially released in October. As of last November, the cumulative number of views exceeded 10 million, and the average number of views per broadcast reached 110,000. The transaction amount increased 21 times compared to the beta service opening as of October last year, and the broadcasting transaction amount in October compared to September also increased by 2.5 times, showing continuous growth.
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In addition, KT also launched a live commerce platform last month in its online video service (OTT)’Season’, and Lotte Shopping’s integrated online mall’Lotte On’ launched a live commerce’On Live’ in July of last year. In addition, Shinsegae International has also opened’SILIVE’, a live commerce platform, in its own online mall, SIVILLAGE, and introduces and sells high-priced products that have been stored in SI Village through live broadcasting.
Competition is expected to intensify as various companies enter the live commerce market. Beyond simply introducing and selling products, it is focusing on attracting and engaging customers by using differentiated contents. In particular, Naver recently introduced entertainment-type shopping contents that combine entertainment and live commerce. After showing the audition live’Anything Bestseller’ of the concept of showhost discovery and’BET2MEN’ planned with Kwan F&C,’Rico’s Challenge’ was released at the end of last month. Host Rico communicates with viewers and performs a shopping mission on various topics. The first episode was about shopping the entire floor of a department store with an unknown credit card for 5 hours.
/ Reporter Baek Ju-won [email protected]
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