One Store, 11 Consecutive Quarters of Growth... Q1 Transaction Volume Up 28% YoY

[Asia Economy Reporter Eunmo Koo] On the 13th, One Store announced that it has continued its transaction growth for 11 consecutive quarters.

One Store's total transaction amount in the first quarter of this year increased by 27.8% compared to the same period last year, surpassing the previous record set in the fourth quarter of last year to achieve its highest performance ever.

One Store analyzed that this growth is the result of accelerated store entries as One Store emerged as an alternative amid controversies over excessive fees and unfair practices imposed by foreign app markets. In particular, with the global app markets' plans to enforce in-app payments and impose fees on non-game apps in the second half of the year, developers are understood to be actively moving.

By sector, One Store's game sector transaction amount in the first quarter increased by about 37% compared to the same period last year. According to IGAWorks' Mobile Index, One Store's market share of game transactions in the first quarter was 14.2%, nearly doubling Apple App Store's 7.2%, solidifying its position as the second largest app market.

In the non-game app sector, domestic media content apps such as ‘Wave’, ‘Flo’, and ‘Bugs’ have consecutively joined the platform. A One Store official predicted, “In the future, media content providers troubled by controversies over excessive fees imposed by foreign app markets will flock to One Store.”

The story content sector, serviced through One Store Books, is also preparing for a full-scale leap. Recently, One Store has significantly strengthened its story content business by simultaneously pursuing the acquisition of genre novel specialist publisher Rock Media, establishing a joint venture with Yes24, setting up a content studio with Chung-Ang University of Cultural Industries, and providing the ‘Toon & Book’ service on the portal site Nate.

In the shopping sector, One Store opened a ‘Nintendo Specialty Store’ in February, achieving full sales of Nintendo Switch and popular packages, and conducted a limited sale of the Monster Hunter Rise Edition, causing a sell-out frenzy. In March, a limited sale of the 48-inch ‘LG OLED TV’ equipped with gaming functions was held, which also sold out in a short time.

Lee Jaehwan, CEO of One Store, said, “The reason One Store has been able to repeatedly achieve record-breaking performance and grow as an alternative app market is the result of efforts to coexist with the industry and provide differentiated benefits from other app markets.” He added, “We will continue to contribute to the development of the domestic industry while fighting against monopolistic environments and solidify our role as the ‘national representative app market.’”

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