Balan, Transaction Volume Doubles Year-on-Year... "4 out of 10 Online Luxury Items Purchased on Balan"

Online luxury platform Ballan announced on the 27th that its total transaction amount last year reached 680 billion KRW, more than doubling compared to the same period the previous year.

Among the estimated 1.5 trillion KRW of domestic online luxury transactions last year, Ballan held about a 45% market share, meaning that 4 to 5 out of every 10 luxury orders made online were completed through Ballan. The average annual growth rate over the past four years was also recorded at 127%, showing a 26-fold increase compared to 2019.

The rapid growth is attributed to solid partnerships with global channels (boutiques, brands) and verified retailers since the company's inception, as well as specialized customer services such as Ballan Express. Services that enhance customer trust, including Ballan Care and Ballan Care Plus, along with personalized recommendation services, price comparison features, a return shipping fee cap system, and convenience-focused policies like the Connected Store IFC Mall, have also been effective.

A Ballan representative said, "The significant growth in transaction volume, as well as the repurchase rate increasing from the previous 45% to the 60% range, reflects the strong trust built with customers, which has led to positive results. Management efficiency and continuous innovation have also contributed to smooth business indicators, and we expect to advance the breakeven point to the first half of this year, making a turnaround to profitability within the year likely."

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