Public Home Shopping Surpasses 1 Trillion Won in Sales Support Last Year

This Year’s Focus on 'Expanding Digital Sales Channels' and 'Strengthening Support for SMEs and Small Business Owners'

Sung-ho Jo, CEO of Public Home Shopping

Public Home Shopping has achieved 1 trillion KRW in sales support for the first time since its launch and is accelerating efforts to strengthen public interest and public value to realize fairness, coexistence, and consumer value.

On the 27th, Public Home Shopping held an 8th anniversary press conference at its headquarters in Sangam-dong, Seoul, announcing last year's major achievements and this year's business plans. Last year, Public Home Shopping achieved sales support of 1.0062 trillion KRW and a net profit of 14 billion KRW, completely eliminating accumulated deficits. It improved financial soundness through three consecutive years of profitable management.

Sales support competitiveness was also enhanced through digital transformation. Mobile sales support increased by about 80 billion KRW compared to 2021, reaching 389.3 billion KRW. This was the result of strengthening IT investment through a 'mobile-first' strategy. The number of broadcasts of 'Gongyeong Labang' increased by about 310% compared to the previous year, reaching 980 times, establishing itself as a representative sales channel for small business owners.

The public function was not overlooked. As the first in the distribution industry to introduce 'distribution network win-win payment,' it helped partner companies with cash flow and exceeded 520 billion KRW in win-win payment performance. The price stabilization project recorded sales of 111.9 billion KRW, easing the burden of consumer shopping basket prices. Through the newly launched 'Didim Broadcasting' last year, 80 products were supported with free sales channels from planning to sales.

Marking its 8th anniversary this year, Public Home Shopping plans to realize the values of fairness, coexistence, and consumers through substantial changes and accelerated innovation. It aims for 1.1 trillion KRW in sales support and 16 billion KRW in operating profit in 2023, increasing the mobile share by 45%, expanding live commerce in earnest, and focusing on nurturing a dedicated channel for small business owners.

Key initiatives include 'digital sales expansion,' 'strengthening support for small and micro businesses,' 'creating a fair distribution environment,' 'enhancing consumer and fair values,' and 'establishing a sustainable growth management foundation.'

Amid the accelerating trend of leaving home shopping, it will actively expand digital sales channels. It will advance sales support functions through content commerce on platforms such as YouTube and Instagram and social networking services (SNS). Gongyeong Labang will increase broadcasts by about 500 times to over 1,500?2,000 times, aiming for 15 billion KRW, and strengthen simultaneous broadcasting in connection with private platforms.

It plans to produce and operate 'Gongyeong Labang Short Clips' in the form of short-form content and focus on nurturing it as a support channel for small business owners through various public-private cooperation sales expansions.

In the face of high interest rates and economic recession, a 30 billion KRW win-win fund will be established to support small and micro businesses. The distribution network win-win payment will also be continuously expanded to 700 billion KRW, leading its spread in the same industry.

To create a fair distribution environment, win-win cooperation broadcasts and free sales support broadcasts for public interest projects will be expanded. Win-win cooperation broadcasts are planned for 380 products, 500 broadcasts, and 35 billion KRW. Free sales support for public interest projects will cover 80 products, 160 broadcasts, and 9 billion KRW. Products recognized through win-win cooperation broadcasts will be systematically nurtured to transition to general broadcasts. In addition, future promising excellent products in policy blind spots will be discovered, and integrated sales support services will be provided across all channels including TV, mobile, and Gongyeong Labang.

Following last year, this year it will also participate in government policies for price stabilization, suppressing price increases mainly for basic daily necessities and products with large price hikes, operating more than 250 products worth over 120 billion KRW as price stabilization items. Lower sales commissions will be applied to reduce the burden on small and medium enterprises and small business owners. Cho Seong-ho, CEO of Public Home Shopping, said, “Although the home shopping industry faced a crisis, we achieved the complete elimination of accumulated deficits and improved financial soundness through successful digital transformation last year. Going forward, we will further strengthen our role as a public institution home shopping and make this year a leap toward the 10th anniversary of Public Home Shopping.”

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