SEOUL, Aug. 31 (Korea Bizwire) - Womanstalk, a video-based e-commerce site made for the first time in Korea, plans to partner with Lazada Philippines, the so-called a Southeast Asian version of Amazon, to reach out to Southeast Asian consumers starting from Malaysia and Singapore in mid-September.
Sales volume of Korean products purchased by people in other countries is expected to more than double from 210 billion won, or about US$207 million, last year, to 500 billion won this year. In particular, Chinese consumers who buy goods made in Korea are expected to spend more than 1 trillion won by 2016. There are mixed factors behind this trend: Inexpensive Korean products with good quality, the Korean Wave in both China as well as Southeast Asian countries and high-speed Internet infrastructure. Korean businesses see opportunities to have loyal customers in Southeast Asia as they provide them with a convenient shopping environment.
On Womanstalk, a video of a celebrity introducing cosmetic products at the cheapest price is uploaded everyday at midnight, which is a new form of e-commerce service since the website can take advantage of the Korean Wave. As the Korean Wave has nurtured demand for Korean beauty products from foreign customers, the website seems to be continuously growing. Videos on Womanstalk with seven language subtitles are highly appreciated by overseas consumers.
Lazada Philippines, an e-commerce platform also known as a Southeast Amazon, sells a wide range of products from home appliances to apparel, ranking No. 1 in the market from the Philippines to Indonesia to Thailand to Vietnam. As the buying power of the middle class in Southeast Asia has grown, the website is also rising rapidly. Sales volume of the e-commerce platform has doubled, with more than one million visitors a day.
As people in Southeast Asia are not used to using e-commerce services, it is important for both companies to put forth their efforts to attract them. If videos on Womanstalk lure consumers who keep an eye on Korean celebrities, both the Korean Internet shopping mall as well as the platform will be able to lead the Asian market.
By Veronica Huh (email@example.com)