[Vitamin SME] Yeowoonchang Sangdo Furniture CEO
"We Will Grow into a Data-Driven Furniture Company"
Reflecting Online Mall Review Analysis in Products
[Asia Economy Reporter Kim Bo-kyung] "This year’s goal is to grow into a data-driven furniture company. We will create products that keep up with rapidly changing trends, just like clothing."
Yeo Woon-chang, CEO of Sangdo Furniture, announced plans to establish a ‘fast furniture’ ecosystem similar to SPA brands like Zara and H&M, which promote fast fashion. The core of this process is understanding customer needs and market demand based on data.
In an interview with Asia Economy on the 17th, he said, "We analyze keywords from user reviews and product inquiries posted on over 30 online shopping malls and reflect them in our business," adding, "Instead of vaguely thinking ‘this product might sell,’ we can manufacture and sell products that customers want based on numerical data." He intends to quickly identify the size, color, and design of furniture that consumers prefer and bring them to market. CEO Yeo uses software that aggregates business statistics such as daily and monthly sales in real time. This eliminates the formal task of preparing sales reports. There is also a system to check how long it takes for furniture entering the warehouse to be sold, making inventory management easier.
Having majored in electronic engineering, CEO Yeo actively applies IT technology to company management. Since founding Sangdo Furniture in 2002, he started online sales, which were unfamiliar at the time. He said, "We focused on delivering accurate information to customers through detailed photos and thorough descriptions." Thanks to well-established online sales channels, sales increased by 40% last year amid the home decoration boom during the COVID-19 pandemic, reaching an all-time high.
It hasn’t always been smooth sailing. Six years ago, CEO Yeo experienced an event that made him and his employees reflect. It was a fire accident at a large logistics warehouse and office in Gimpo, Gyeonggi Province. He cannot forget the call from the security company on a Friday evening while having dinner with employees, asking, "There’s a fire; can we break open the locked door and enter?" Furniture inside the warehouse was quickly consumed by fire, resulting in a loss of 2 billion won. CEO Yeo recalled, "The day after the fire, we had to do something, but not a single sheet of paper or pen was left."
What helped him get back on his feet was the people around him. Business partners who trusted him supplied products without payment for a year. Employees offered their homes as offices and worked while eating packed lunches. CEO Yeo said, "With the help of those around us, the business normalized within 2 to 3 years," adding, "Since then, I have come to value happy management where we can grow and be rewarded together."
Recently, CEO Yeo traveled alone to Jeju Island. This was to prepare a ‘workcation’ for employees who have difficulty traveling abroad and taking proper vacations due to COVID-19. He explained, "The idea is to handle work during the day and spend evenings and weekends enjoying a vacation-like experience in unfamiliar places like Jeju or Busan," adding, "I hope it will be an opportunity to take a break from daily life and refresh."
The name Sangdo Furniture is inspired by the drama ‘Sangdo.’ It means to uphold the merchant’s principles. CEO Yeo said, "We will continue to provide trustworthy products at reasonable prices to earn customers’ trust and ensure employees feel rewarded by supplying good products."
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