Shop at up to 94% off - Amazing Technology of U+Kok
"Reduced Inventory Burden for Partner Stores, Purchase of Lowest Price Products"
Advanced AI Data Analysis Technology for Sales Quantity Prediction
LG Uplus announced on the 3rd that it has significantly enhanced its AI data analysis technology for sales quantity prediction to drastically reduce the inventory burden on vendors in its mobile shopping platform ‘U+Kok’ and enable customers to purchase products at lower prices. U+Kok is an app service that offers high-quality products directly sourced by professional MDs, providing customers with personalized 1:1 recommendations based on big data.
LG Uplus offers about 10,000 products at prices discounted up to 94% compared to the regular price and has made shipping fees for purchased products completely free. This time, by advancing AI-based data analysis and utilization technology, it has greatly improved the accuracy of sales quantity predictions for products listed on U+Kok based on customer data, proposing reasonable minimum sales prices to vendors.
The AI data analysis utilizes ▲ U+Kok data such as product category, item, exposure index, reviews, ratings, and price ▲ U+ telecommunications data including demographic information, household types, and interests ▲ external data such as brand index, online search volume, and weather to accurately predict sales quantities by applying expected purchase rates and the size of target customers with high purchase likelihood. The larger the target customer base, the higher the expected sales quantity, allowing prices to be lowered further.
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Kim Tae-hoon, Head of LG Uplus Advertising Business Division (Senior Vice President), said, “U+Kok is a service one step ahead of the group purchase concept where prices drop as more customers gather,” adding, “Since over 95% of the products are from small and medium-sized enterprises, we will continue to practice co-growth with vendors while securing operational capabilities for the online marketplace to provide tangible benefits to customers.”
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