Home Shopping Industry Investing in Future Food Markets Beyond TV

Decline in Performance Due to Reduced Demand for Contactless Shopping
Expansion of Digital Transformation and New Business Investments

[Asia Economy Reporter Lim Chun-han] The home shopping industry is securing future growth engines through digital transformation and expanding investments in new businesses. This move to adopt a 'post-TV strategy' aims to offset poor performance caused by decreased demand for non-face-to-face shopping and the burden of transmission fees.

On the 28th, Lotte Home Shopping plans to launch a non-fungible token (NFT) marketplace through its application (app) in April and sell virtual clothing products linked to physical goods. It will also build a Meta Live Studio that realizes live commerce in a three-dimensional virtual world and offer shopping content based on extended reality (XR) during the massive shopping event Gwangclejeol. Since last November, it has directly invested 25 billion KRW in Chorokbaem Media to expand its content commerce platform. Within this year, it plans to introduce the streaming channel L-Play for drama and entertainment content and a celebrity community platform utilizing famous celebrities on its mobile app.

CJ OnStyle is strengthening product competitiveness through direct and indirect investment expansion. Earlier this month, it made a direct investment of 3 billion KRW in Brunt, which operates Collection B, a premium living specialty platform. Last year, it invested 4 billion KRW in luxury goods, health functional foods, and retail tech companies and contributed 13 billion KRW by selecting excellent venture capital firms.

GS Shop is focusing on Munrae Live, a live commerce production agency service, based on its broadcasting production capabilities accumulated through the home shopping business. Unlike most production agencies that merely rent filming equipment and provide locations, Munrae Live offers total services including planning, directing, video art, hosts, chat support, and transmission technology. It currently secures major brand clients such as P&G and Philips and is expanding partnerships with major domestic live commerce channels like Naver and Coupang.

Hyundai Home Shopping has established a media commerce company-in-company (CIC). It is responsible for selling brands it directly plans mainly through online channels such as social networking services (SNS) and plans to introduce mobile live-exclusive products and customized content in the future.

A home shopping industry official said, "In a rapidly changing business environment where change and innovation are indispensable, we are conducting new businesses and investments to proactively secure future growth engines and continue flexible growth."

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