SSG.com Sees 35% Increase in Luxury Sales After Introducing 'SSG Guarantee'

Luxury Sales with SSG Guarantee Products at 20% Share
Premium Delivery Service and Specialty Sections to Launch in Q1, Secondhand Trading Service Within the Year

[Asia Economy Reporter Yuri Kim] SSG.com announced on the 24th that its luxury-related performance has increased since launching the luxury digital warranty service 'SSG Guarantee.'

SSG.com stated that luxury sales increased by 35% over approximately five months from August 26 last year, the launch date of the luxury digital warranty service 'SSG Guarantee,' to the 22nd of this year compared to the same period the previous year. The proportion of products with the 'SSG Guarantee' applied among luxury sales also reached around 20%. The number of ordering customers increased by more than 30%. It was found that one out of four luxury buyers purchased products with the 'SSG Guarantee.'

The number of new customers purchasing luxury items for the first time on SSG.com is also increasing. The proportion of new customers among all luxury buyers each month remains in the 70% range, meaning that 70 out of 100 luxury buyers are first-time customers. Sales of partner companies selling products with the 'SSG Guarantee' applied also increased by more than 110%.

Among luxury sales with the 'SSG Guarantee' applied, nearly half of the purchases were made by the MZ generation (Millennials + Generation Z). SSG.com analyzed that the popularity is due to offering highly reliable products to customers familiar with online luxury purchases and providing differentiated services considering future resale (secondhand transactions).

SSG.com plans to continue strengthening luxury-related services this year. Within the first quarter, it plans to introduce a premium luxury delivery service providing delivery via secure vehicles and professional personnel. It is also preparing to launch a specialized section that gathers only SSG Guarantee products. Within the year, it will offer luxury resale services through collaboration with secondhand transaction platforms and introduce a service connecting secondhand transactions among SSG.com luxury order customers.

Gu Hyo-jung, Luxury Accessories MD Team Leader at SSG.com, said, "'SSG Guarantee' delivers verified luxury products to customers and is establishing a digital warranty culture in the industry with the belief that 'when SSG.com does it, it becomes the standard.' We aim to become a platform that can provide a one-stop service considering the product cycle from luxury purchase to secondhand transactions."

Meanwhile, since August 26 last year, SSG.com started the luxury digital warranty service 'SSG Guarantee' to proactively block counterfeit issues when purchasing luxury items online. The digital warranty is a type of quality certificate certifying that the luxury product purchased by the customer is genuine, and it is characterized by applying the industry's first 'NFT (Non-Fungible Tokens)' method to enhance security.

The number of products with the 'SSG Guarantee' applied has expanded from about 5,000 initially to about 10,000 currently. It plans to introduce about 30,000 products within the year.