"Seismic Shift in E-Commerce"...CJ OnStyle's Live Commerce Transactions Up 92.4% in Q1
Cumulative Mobile App Usage Time Up 110% from January to April
The rapid growth of the mobile live commerce (live broadcast shopping) market is causing a seismic shift in the e-commerce industry. As video platforms such as YouTube and TikTok have recently entered the market, the boundaries between industries are breaking down, and the size of the related market is expected to grow even further.
CJ OnStyle is the company most actively pursuing the video commerce business. In April of last year, CJ OnStyle revamped its mobile app to focus on video content, declaring its transformation into a "video shopping platform." The main screen of the mobile app was changed to feature Shorts, and a live broadcast tab was added at the top of the app so users can easily browse popular live broadcasts at a glance. As a result, the cumulative time spent on the mobile app from January to April increased by 110% compared to the previous year.
Another key competitive advantage is its content intellectual property (IP). Signature content IPs such as "Yoo Inna's Get It Beauty," "Ahn Jaehyun's Indoor Moment," and "Park Seri's Big Sister BIG Seri" have been credited with changing the traditional live commerce format, which was previously focused on special deals. In fact, in the first quarter of this year, CJ OnStyle's mobile live commerce transaction volume increased by 92.4% year-on-year, and the Shorts order conversion rate also rose by 164%.
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CJ OnStyle plans to target the influencer market starting in the second half of this year. As part of this strategy, earlier this month, the company launched the "Influencer Show," which matches influencers and brands on a one-to-one basis. Sixteen influencers with a combined fandom of 4 million, including DeElisa, Seojinsaem, and Karuselli, were paired with brands carefully selected by CJ OnStyle, combining fandom-based social networking service (SNS) group purchases with CJ OnStyle's live broadcasts.
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