Transaction volume in January increased 20 times year-on-year! Korean e-commerce platform Grip successfully broke through

Although live streaming e-commerce in South Korea has only started in the past two years, its development speed is not slow at all. It is also a new sales channel for sellers.

Live Commerce Grip announced on the 2nd that its transaction volume in January 2021 exceeded 5 billion won, which is about 20 times that of the same month last year.

Grip was first launched in February 2019 and is South Korea's first real-time business shopping software , allowing users and sellers to communicate and buy and sell in real time , which is what China calls "live streaming sales . "

Since the outbreak of the epidemic , driven by the booming contactless economy, Grip has introduced individual sellers and many brands , thereby increasing the transaction value of the platform . The interaction between sellers, anchors and consumers has also made Grip quickly become a new channel for sellers to sell products , and its growth momentum is very rapid.

As early as early January this year , Grip announced that the cumulative transaction amount in 2020 was 24 billion won, and the average monthly transaction amount was 26 times that of the previous same period.

Although it took Grip 6 months to attract 50 sellers in its early days , the number of sellers on the platform has now exceeded 8,200 (as of December 2020). The number of viewers has increased by 4.8 times compared to last year , and the number of views has increased by 14.2 times . Grip can be considered a successful breakthrough!

At the end of last year, Grip launched a new market segment, Time Deal, where consumers can bargain with sellers in a 10-minute live broadcast meeting. The project completed transactions worth about 180 million won in just 10 minutes.

An official from Grip said: "Grip's current monthly sales growth is also stable and can exceed 5 billion won. This year, when the epidemic is not over yet, Grip will continue to maintain a rapid growth trend."

In addition to Grip, the leading player in live shopping in South Korea, major e-commerce giants in South Korea have also bet on live shopping, such as Naver, Coupang and other giants have also launched live selling methods. Therefore, if Grip wants to maintain its current market position, it cannot afford to slack off.

South Korea

Grip

E-commerce live streaming