"Famous Electronics and Furniture Up to 60 Months Installment Payment" GETTT Launches Long-term Rental Service

GETTT, long-term rental service.

Cheil Worldwide Launches New Lifestyle E-commerce Platform Service
Long-term Rental Available for Samsung Electronics Bespoke Appliances, Herman Miller, Eames Chairs, Fatboy, and More

[Asia Economy Reporter Kim Yuri] Cheil Worldwide announced on the 15th that its lifestyle e-commerce platform 'GETTT,' which it operates, has newly introduced a long-term rental service.

GETTT is an e-commerce platform incorporating a rental model that officially launched its service in November last year. It has provided short-term rental services allowing consumers to experience various products and brands for 1 to 2 weeks to discover their own preferences.

The newly introduced long-term rental service by GETTT features the ability to use high-priced products for an extended period with monthly installment payments ranging from a minimum of 12 months to a maximum of 60 months. Ownership is transferred to the consumer upon full payment of the installments.

Unlike existing long-term rental services mainly limited to home appliances, GETTT offers long-term rental options for over 1,300 lifestyle products across various categories such as fashion, furniture, appliances, and art. Brands participating in GETTT’s long-term rental service include Samsung Electronics’ Bespoke appliances, premium imported furniture brand Herman Miller, American modern furniture brand Eames Chair, Dutch design furniture Fatboy, fabric design furniture Mamel, and modular furniture brand Monstructure.

A GETTT representative said, "The goal of this long-term rental service is to expand the age group of long-term rental users, which has mainly been middle-aged and older, to the 20s and 30s, enabling the MZ generation (Millennials + Generation Z) to enjoy a lifestyle with advanced tastes."

GETTT surpassed 900,000 cumulative visitors within 10 months of its launch. The number of participating brands increased threefold from about 70 at launch to over 210. The number of products expanded from about 2,300 to over 9,000. The average monthly transaction amount over the recent three months (June to August 2021) increased more than fivefold compared to the first three months after launch (November 2020 to January 2021). The cumulative transaction share by category showed balanced performance, with fashion categories such as clothing accounting for 58% and living categories 35%.

A GETTT representative added, "In the second half of the year, we plan to offer various consumer experience opportunities through rental services and free trial events like 'GETTT For Free.' We will also strengthen GETTT’s uniquely differentiated curation content."

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