Women's Fashion App 'Zigzag' Surpasses 2 Trillion Won in Cumulative Transactions

Reached 1 Trillion KRW in Cumulative Transactions by Late 2018, 3.5 Years After Launch, Surpassed 2 Trillion KRW in 1.5 Years

[Asia Economy Reporter Kim Cheol-hyun] Croquis.com (CEO Seo Jeong-hoon) announced on the 22nd that the women's shopping application (app) 'Jigzag' surpassed a cumulative transaction amount of 2 trillion won in the first half of this year. Domestic online shopping malls selling Dongdaemun fashion products have generated sales of 2 trillion won through Jigzag so far.

Jigzag is a service launched in June 2015 by Croquis.com, which brings together women's online shopping malls dealing with Dongdaemun clothing. It provides a mobile-optimized user experience such as shopping mall favorites and personalized product recommendations, and has continued to grow every year along with the affiliated shopping malls.

Jigzag's transaction amount increased annually from 200 billion won in 2016, 350 billion won in 2017, to 500 billion won in 2018, surpassing a cumulative 1 trillion won at the end of 2018, three and a half years after its launch. Since then, it recorded a transaction amount of 600 billion won in 2019, and with a roughly 20% increase in the first half of this year compared to the same period last year, the cumulative transaction amount exceeded 2 trillion won as of June this year, five years after its launch.

Over the past five years, about 48 million fashion items have been traded through Jigzag. The app has been downloaded more than 20 million times cumulatively, and the monthly number of users reaches 3 million. The number of affiliated shopping malls, which started with 300 at the app's launch, has now increased to about 3,700.

Croquis.com analyzed that this is the result of Jigzag faithfully fulfilling its role as a platform connecting users who want to buy clothes and sellers, actively developing technology that provides convenience to both sides. For example, the integrated payment service 'Z Payment' introduced in October last year contributes to expanding user inflow and increasing seller sales through a convenient system that allows payment for products from multiple shopping malls with a single login. In fact, after joining Z Payment, there was a seller whose monthly sales surged 22 times, and from February to April this year, shopping malls with monthly sales under 10 million won that joined Z Payment saw their monthly sales increase up to four times after joining.

Since May this year, Jigzag has introduced a 'Daily Settlement System' that settles payments on a daily basis, enabling sellers facing cash flow difficulties to maintain smooth financial flows. Also, Jigzag is refining personalized recommendation and search services by analyzing big data such as individual shopping logs. Development of systems that can enhance competitiveness so that sellers can sell a wide variety of products is also underway.

Seo Jeong-hoon, CEO of Croquis.com, said, "Marking five years since its launch, Jigzag still focuses on the essence of shopping, making the service more robust so that any user can conveniently access products they like at good prices." He added, "In particular, we actively support sellers to acquire more new and loyal customers through Jigzag, continue sustainable growth, and strive to contribute to revitalizing the Dongdaemun fashion market through these activities."