SSG.com 'Win-Win Crowdfunding' Success Rate 50% ... The Secret Behind Its Big Hit

1400 SME Products Funded Over 2.5 Years... 35 Items Exceeded Funding Goals by 10x
Popular Products Closely Linked to Social Issues Like Filter Showerheads and Organic Sanitary Pads

[Asia Economy Reporter Jo In-kyung] SSG.com, the integrated shopping mall of Shinsegae Group, announced on the 25th that its win-win crowdfunding service 'Urur' has achieved a 50% success rate.

Urur is a group purchase-style crowdfunding service that provides excellent small and medium-sized enterprises (SMEs) with opportunities to sell products without separate advertising fees. It operates by gathering buyers over a set period to reach the funding target amount and quantity, after which the company ships the products. Since its launch in September 2018, a total of 1,400 fundings have been conducted, with about 700 excellent SME products successfully funded and sold. There have also been 35 "hit products" that raised more than 10 times their target amount.

Most of the successfully funded products were closely related to social issues or shared common traits such as practical baby and children's items or fresh foods delivered directly from production areas.

Following the nationwide "tap water larvae" incident last year, interest in the "filter showerhead" that filters out insects increased. In response, SSG.com conducted funding for the "Innohouse Filter Showerhead" in September, achieving 385% of its target amount. With growing health concerns, the "Bibicotte Organic Sanitary Pads," launched at the end of October last year, reached 338% of its funding goal.

The baby musical instrument "Havebricks Bluetooth Piano Drum" exceeded its funding target by an astonishing 2,534%, and the "Miniware 2nd Generation Suction Baby Food Tableware," sold at a 30% discount from the regular price, achieved a 537% funding rate.

Funding for fresh foods delivered directly from production areas, purchased in advance at discounted prices and received on designated dates, also received strong responses. Among 100 successful fundings conducted in the fourth quarter of last year (September to December), 20 were food items, showing an average success rate of 260% due to the ability to purchase fresh products at reasonable prices by reducing distribution processes.

Gwak Jeong-woo, Head of Operations at SSG.com, said, "The crowdfunding service, which started as a pilot project for win-win cooperation, has steadily gained popularity among customers who pursue rational consumption and has established itself as a model case of Win-Win. We will discover products that can open new sales channels for small and medium-sized partners while simultaneously increasing customer satisfaction."

'Havebricks Bluetooth Piano Drum' that gained popularity after being listed on Ururu

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