|▲ Eden / CEO Yoonok Yang|
According to Statistics Korea, the volume of internet and mobile trade reached around 12 trillion won ($10 billion) last year, a 20.2% increase on previous year. However, mobile shopping shared 66% indicating that more people refer mobile than PC when buying goods. The way people buy things is changing fast and those who do not meet the consumer demands are likely to fall behind the competition, experts warned. CJ O Shopping also recently pointed out 10 latest shopping key words with contents and trend as the two core elements.
Introducing B2C shopping mall
The B2C online shopping mall Eden deals with almost all product lines from clothes and food to commodities. Eden is channeled with SNS platforms and is drawing a considerable number of visitors through fast trend analysis and competitive price.
In broad terms, Eden is categorized into clothes, cosmetics and food. The special teams of Eden regularly check on the trend by field research such as in Dongdaemun Clothes Market and participate in the design if necessary. And the newly made clothes are distributed to retail stores and wholesalers under its own brand name ‘Eunice’.
To minimize unsold goods in stock, Eden runs ‘order first and make later’. The company recently has received a massive order and the production is processed speedily to meet the deadline. Eden also has signed a Memorandum of Understanding with the department of clothing at Hanseo University for promoting Eunice.
More than 100 kinds of daily necessities
Yoonok Yang, CEO of Eden, is the one who first introduced ‘wicker tray chopping board’ to South Korea that captivated many hearts of housewives. Yang is quick to spot soon-to-hit products and her clients for this reason often call her influencer.
“Eden gives a greater focus on trendy and quality products as well as price competitiveness. In addition, we make video images for certain products so that consumers can watch how to use them instead of reading complicated manual. Our special teams are always busy finding hit products at Amazon.com and analyze whether they can also make a hit in South Korea before releasing.”
Going global with AI-driven platforms
Yang and her specialist teams are ambitious to grow Eden as an AI-driven mobile shopping platform. When completed, the big data gathers and analyzes information and automatically recommends related products to consumers. It is notable that the system is expected to analyze even the location and the weather at the time of buying.
Vice CEO Jeongtae Jeong said “South Korea has a great delivery infrastructure but the US is relatively behind as they still use post office. In other words, it is an opportunity for us to open Online to Offline stores that can process purchasing, delivery and return.”
With these excellent business platforms and plans, Eden has shown yearly 50% growth and recently achieved 5 billion won ($4.2 million) sales within 5 years of launching the business. Taking the momentum, Yang is determined to achieve 30 billion won ($25 million) sales in next 3 years.
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