Timon 10th Anniversary... "The First Year of Profit Turnaround with Time Commerce"

Title Transition to the First Time Commerce in Social Commerce... Aiming for the First Domestic E-commerce Listing

[Asia Economy Reporter Kim Cheol-hyun] TMON (CEO Lee Jin-won) announced on the 22nd that it has reached its 10th anniversary of service this month. Starting as a ‘social commerce,’ TMON has now evolved into a ‘time commerce’ platform offering tens of thousands of special-priced products 24 hours a day.

Compared to December 2018, when TMON began its shift toward time commerce, sales volume in May of this year increased by 217%, and revenue also rose by 187%, showing remarkable results. During this period, the number of customers grew by 26% as well. Profitability rapidly improved during this time, leading to the company achieving its first monthly profit in 10 years in March of this year, with the goal of becoming the first in the industry to directly list on the stock market next year.

Over the past 10 years, based on coupon discounts and reward points, the average shopping benefit provided by TMON per purchasing customer was 770,000 KRW. A TMON representative explained, “Considering that most products were special-priced at the lowest online prices, the actual benefits enjoyed by customers are expected to be much greater.” The customer who made the most purchases over 10 years completed a total of 20,540 transactions, which means they shopped at least 5.6 times daily. The customer with the highest cumulative payment amount reached a total purchase value of 2.7 billion KRW.

Meanwhile, the live commerce service ‘TVON Live’ is also achieving meaningful results. Since its launch in 2017, TVON has broadcast a total of 2,205 shows with an accumulated broadcast time of 2,080 hours. The number of viewers has also increased explosively. The number of TVON Live applicants grew by 3,036% in April this year compared to its launch in September 2017, attracting great interest from customers seeking a new shopping experience.

Lee Jin-won, CEO of TMON, said, “TMON is a company most often described as the first in the domestic e-commerce industry. We started as the country’s first social commerce and created the title of the first time commerce. Now, through the first domestic stock market listing, our goal is to become a sustainable company that can last for 20 or 30 years.” He added, “We will strive to make 2020 the first year of turning a profit.”

This content was produced with the assistance of AI translation services.