Shinsegae Inter Accelerates Live Commerce Business

Establishment of an In-house Broadcasting Studio

[Asia Economy Reporter Yujin Cho] Shinsegae International is the first in the industry to establish its own broadcasting studio and is set to fully launch its live commerce business.

On the 13th, Shinsegae International announced that it will launch S.I.Live, a luxury live commerce platform within its own online mall, S.I.Village.

S.I.Live is a live commerce platform where products are sold during live broadcasts, introducing and selling high-end products available on S.I.Village. It is a secret luxury broadcast exclusively for S.I.Village members, held every Monday at 8 PM for about an hour, focusing on themes such as fashion, beauty, and lifestyle. The first broadcast will be on the 14th.

As the live commerce market grows, Shinsegae International has been preparing to build an integrated live broadcasting platform to secure its own competitiveness.

According to a report by Ebest Investment & Securities, the domestic live commerce market size is estimated to be around 3 trillion KRW this year and is expected to grow to about 8 trillion KRW by 2023. Especially, mobile-based live commerce allows viewers to watch freely without location or time constraints, and real-time communication between sellers and buyers is smooth, resulting in a purchase conversion rate nearly 10 times higher than traditional e-commerce.

Through S.I.Live, Shinsegae International aims to build live commerce operational capabilities and strengthen the competitiveness of its own mall, S.I.Village.

Unlike existing live broadcasts that focus on discounts and purchase benefits, S.I.Live aims to be a ‘luxury live commerce’ centered on content that can create synergy with S.I.Village.

First, by establishing a dedicated infrastructure and its own broadcasting studio in-house, the company has improved the quality and operational efficiency of live broadcasts. This not only saves the cost and time of renting shooting locations, transporting products, and setting up displays each time but also enables the planning and production of differentiated content.

Additionally, employees who have received professional sales training are nurtured as dedicated personal shoppers, providing a special experience akin to VIP-exclusive shopping. While existing show hosts aimed to maximize sales within limited broadcast time, S.I.Live personal shoppers carefully select products and brands according to seasons, trends, and issues, focusing on product curation.

Luxury fashion brands such as Giorgio Armani, Maison Margiela, and Brunello Cucinelli, as well as about 80 carefully selected luxury brands owned by Shinsegae International including Diptyque and Byredo, will be sold through S.I.Live. Furthermore, high-end audio equipment, furniture, artworks, and interior accessories available at the curated shop Select449 within S.I.Village will also be showcased.

The first broadcast will be a beauty holiday special, perfect for year-end gifting. High-end cosmetics and niche fragrance brands such as Diptyque, Byredo, and Santa Maria Novella, which are gaining attention as small luxuries, will be introduced.

A Shinsegae International official stated, "This specialized broadcast for members of our own online mall S.I.Village will pioneer the luxury live commerce sector that did not exist before," adding, "We plan to strategically operate by differentiating the existing Naver Shopping Live and S.I.LIVE broadcast channels according to the characteristics of the brands and products we own."

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