"Catch C-Commerce"... Gmarket Sold Over 100 Billion Won on Big Smile Day's First Day

Record 113 Billion KRW Trading Volume on the 7th
Membership Achieves Highest Daily Sign-Ups
Strong Customer Response... 1 Million Event Participants

Gmarket and Auction's year-round biggest shopping festival, 'Big Smile Day,' which runs until the 20th, surpassed 100 billion KRW in sales (transaction amount) on the first day. Traffic surged immediately after the event opened, causing queues at times, drawing significant consumer attention.

Gmarket announced on the 8th that it recorded 113 billion KRW in transaction volume on the first day of the Big Smile Day event on the 7th. This figure represents nearly a 10% growth compared to the previous event held last November. When converted to an hourly basis, sales amounted to 4.7 billion KRW per hour, or 1.3 million KRW per second.

First day sales of Gmarket's Big Smile Day.
[Image provided by Gmarket]

This scale surpasses the average monthly transaction volume of C-commerce (Chinese e-commerce). According to app and retail analysis services WiseApp, Retail, and Goods, the estimated average monthly payment amounts for AliExpress and Temu in the first quarter of this year were 270 billion KRW and 91.1 billion KRW, respectively. The first-day transaction volume of Big Smile Day exceeded Temu's first-quarter average monthly payment estimate and reached 40% of AliExpress's first-quarter average monthly payment estimate.

Digital devices and home appliances led the strong first-day performance. The cumulative number one ranking on the 7th for Gmarket and Auction was the 'Roborock Robot Vacuum Cleaner (S8 MaxV Ultra),' which sold over 4 billion KRW worth in just one day. Home appliances such as LG air conditioners, Samsung refrigerators, and LG dehumidifiers were also popular. Besides digital appliances, daily necessities like cola, wet wipes, and rice made it to the best-seller list.

Interest in customer participation events was also high. A total of 1 million people participated in customer engagement events such as the 'Attendance Cash Giveaway' event, which randomly distributes shopping support funds, and the Hyundai Casper prize draw event. A special deal offering 'Compose Coffee Iced Americano' to membership members at 990 KRW sold out 20,000 cups prepared for the day within 40 minutes of the start. The six live broadcasts held on the first day attracted over 3 million cumulative viewers.

The membership promotion, which lowered the annual fee and increased benefits, also received a positive response. Thanks to the 4,900 KRW reduction in the annual fee, the 'Shinsegae Universe Club' saw a surge in new sign-ups on the 7th, setting a record for the highest number of daily new members. This number is more than three times the number of new members on the first day of last year's Big Smile Day event. Gmarket will continue to reduce the annual fee by more than 80% until 7 a.m. on the 3rd of next month, provide cash-equivalent Smile Cash worth three times the annual fee, and additionally offer a free one-year membership extension.

A significant portion of the transaction volume generated during Big Smile Day came from membership members. Sixty percent of the transaction volume on the first day of Big Smile Day was generated through membership members, and their average purchase amount per person was about 23% higher than that of regular members.

Big Smile Day will continue for two weeks until the 20th. Unlimited coupons worth up to 10,000 KRW will be distributed, and one coupon worth up to 30,000 KRW will be provided daily. During the event period, a total of four high-value coupons worth 150,000 KRW will also be offered. Membership members will receive one additional identical coupon each. More than 30,000 sellers and about 200 brand manufacturers are participating in Big Smile Day.

A Gmarket official said, "Big Smile Day, now in its eighth year, is a representative discount event with fans eagerly awaiting it every time," adding, "The atmosphere on the first day, which determines the success of the event, is hotter than ever, raising great expectations for this event."

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