Cafe24 Solves Issues with 5 Key Metrics... "Escape Shopping Mall Slump, Sales Soar"

Marketing Center Consultant Kim Ga-yeon
Detailed Analysis of Annual Sales and Inflow
Identifying and Solving Hidden Issues

Gayeon Kim, Consultant at Cafe24 Marketing Center

[Asia Economy Reporter Lim Chunhan] Cafe24 is gaining popularity by providing a service that identifies hidden issues in shopping malls and helps increase sales through five key indicators utilizing big data. The five key indicators are ▲annual sales of the shopping mall (mall sales) ▲number of consumers visiting the shopping mall (inflow) ▲number of pages viewed by consumers in the shopping mall (page views) ▲number of buyers relative to inflow (conversion rate) ▲amount spent per customer (average order value).

On the 5th, Kim Gayoun, a consultant at Cafe24 Marketing Center, said, "Shopping malls accumulate certain patterns based on the behavior of visiting customers, and by analyzing these, we can understand what needs to be done for the shopping mall to grow. If a customer is running many advertisements but not seeing results, the first step is to analyze the key indicators to identify problems and consider solutions."

Cafe24 compares and analyzes the key indicators of each shopping mall using big data. It is also possible to compare the current situation of a shopping mall with data extracted from companies handling similar categories and derive points for improvement. It even guides which product categories have increased sales in the same period last year, whether the shopping mall follows these trends, and the timing and content of additional services such as events.

Lunchbox company A, based on key indicator analysis, had average inflow and page views, a better-than-average conversion rate compared to similar categories, but a low average order value. Accordingly, the shopping mall held a promotional event launching one-week diet, two-week diet, and one-month packages, increasing the average order value by 2.5 times within two months and growing mall sales to the billion-won level. Children's clothing company B had mobile platform page views lower than those of shopping malls in the same category. To address this, they placed important elements such as discount rates, benefits, and purchase reviews at the top and added several promotional event buttons on the detailed pages to prevent page exits. As a result, page views tripled, and sales doubled compared to the same period last year.

Cafe24 Marketing Center plans to enhance the ability to analyze key indicators and further subdivide derived sub-indicators. Consultant Kim said, "Most shopping malls can derive solutions by analyzing the five key indicators, but some require analysis of various sub-indicators such as customer churn rate or the number of times items are added to the shopping cart. We are currently working on strengthening the automation system for collecting additional indicators to accumulate big data on sub-indicators more efficiently."

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