E-Land's Paid Membership 'Land500'... Captured Both Customer Traffic and Sales

Store Sales Up 8% Compared to Pre-Renewal
Membership Also Up 37% Year-on-Year

Electroland captured two birds with one stone?both attracting customers and increasing sales?through its paid membership 'Land500 Club' launched this year.

Electroland announced on the 28th that the total sales of the 18 renewed paid membership stores 'Land500' from January 1 to the 25th of this month grew by 8% compared to the previous year before the renewal.

The company analyzed that the main factor behind the sales increase was Land500 breaking the conventional belief that offline stores are more expensive than online due to distribution structure by selling home appliances at the lowest internet prices.

The exterior of 'Land500 Hyundai Outlet Dongdaemun Branch,' the first paid membership store opened by E-Land in the Seoul area.
[Photo provided by E-Land]

By branch, 'Land500 Yangju Branch' in Yangju-si, Gyeonggi recorded the highest sales growth rate at 59%. 'Land500 Jakjeon Branch' in Jakjeon-dong, Incheon followed with 53%. The Yangju branch maximized customer attraction by having a No Brand store as a shop-in-shop on the first floor, and the Jakjeon branch’s unique status as Electroland’s first membership store is interpreted as driving this growth trend.

The number of membership subscribers increased by 37% compared to the same period last year. Electroland believes that consumers joined without burden because the annual fee is relatively low at a minimum of 10,000 won, and the discount rate and point accumulation rate are high.

The Land500 Club is a paid membership first introduced by Electroland in May this year, the first among home appliance retailers. By joining the club, members can purchase 500 specially priced products at offline stores at prices comparable to the lowest online prices. Membership levels are divided into Light (10,000 won), Standard (30,000 won), and Premium (50,000 won) according to the annual fee, offering members up to 20 times more points and an additional 7% discount compared to the existing Electroland membership.

Hong Bong-cheol, chairman of Electroland, said, "Next year, Electroland plans to do its best to activate paid memberships by enhancing membership benefits and collaborating with new industries."

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