"'T-Commerce Storm' SK Stoa Aims for 4 Trillion KRW in Transaction Volume Within 4 Years"

Achieved Industry's First 1 Trillion KRW Transaction Volume Last October
Targets 4 Trillion KRW by 2025
Added Big Data Analytics to Core Competency 'Stoa On'
Personalized Service Expected as Early as Q2 Next Year

Yoon Seok-am, CEO of SK Stoa, is making a presentation at the 'SK Stoa ON Vision' press conference held at the headquarters building in Sangam-dong on the 18th.

[Asia Economy Reporter Cha Min-young] SK Stoa, which became the first in the T-commerce industry this year to achieve 1 trillion KRW in transaction volume, has set a goal to increase its transaction volume to 4 trillion KRW by 2025. To this end, it is developing its own big data analysis system to analyze data from 23 million customers. As early as the second quarter of next year, it plans to launch a personalized shopping service.

On the 18th, SK Stoa held a press conference titled 'SK Stoa ON Vision' at its headquarters in Sangam-dong, presenting its mid- to long-term growth model. The company, which achieved 1 trillion KRW in transaction volume for the first time in the industry last October, plans to gradually increase it to 2 trillion KRW by 2021 and 4 trillion KRW by 2025.

The core of the plan is to add viewer data analysis functions to SK Stoa's key competitive advantage, 'SK Stoa ON,' which was launched in March last year. By applying cloud technology to SK Stoa ON, it has become possible to secure order data generated during product broadcasts (VOD) while broadcasting. Through collaboration with SK Broadband and SK Planet, customer data accumulated in the cloud will be combined with household-level data based on set-top boxes provided through existing IPTV, comprehensive cable broadcasting (SO), and cable TV, enabling the extraction of meaningful data such as 'sales per viewer.'

Until now, TV home shopping performance has varied each time depending on external factors such as weather, price conditions, production, broadcast time, and social issues, even for the same product. In particular, the T-commerce industry, unlike general TV home shopping, prohibits live broadcasting, making it impossible for shopping hosts to monitor viewer reactions in real time and adjust sales strategies accordingly.

SK Stoa plans to establish effective sales strategies in the future by analyzing customer data by gender and age based on this big data analysis function. Currently, the big data analysis content, which is in beta service, is being delivered to product planners (MDs) and broadcast PDs to be used in developing sales strategies.

In the future, based on customer data accumulated over more than six months, the company plans to recommend customized channels and showcase products tailored to customer preferences. It is also expected to develop services targeting seller customers. Similar to the e-commerce industry such as open markets, partnerships with specific food, fashion, and health functional food brands could open '00 Halls' and more. Since the number of channels can be expanded infinitely, a 'TV-type open market' will open for senior customers, the main target group of home shopping, who find radical changes to digital culture difficult.

Yoon Seok-am, CEO of SK Stoa

Yoon Seok-am, CEO of SK Stoa, emphasized, "While customers' diverse data is the most valuable asset, TV has not been able to play with data as much as online or mobile. Stoa ON will provide interactive services that can break these limitations and create clues for digital transformation (DT)."

Meanwhile, SK Stoa ON, the flagship service launched after CEO Yoon Seok-am's appointment, achieved more than 302% sales growth compared to the same month last year within one year and six months after its launch in March last year. Daily remote control order amounts exceeded 300 million KRW, and the average daily transaction volume grew 394% compared to October of the previous year. The number of viewers also increased by more than 324%. It is characterized by organizing another VOD store (category) within the channel, allowing customers to shop in various ways inside the TV without spatial or temporal restrictions.

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