"Price Dropped 8,000 Won Today"... Gmarket Launches 'Price Reduction Signal'

Purpose of Enhancing Price Reliability and Discount Perception

Gmarket announced on the 15th that it will launch the ‘Price Reduction Signal’ service to strengthen price competitiveness. The Price Reduction Signal is a service that is displayed when the price at the time of reduction is lower than the average price within 30 days, based on recent product data.

This service is characterized by specifying a clear time concept to enhance the perception of discounts. For example, it provides clear information on the time and extent of the price reduction, such as ‘8000 won cheaper today’ or ‘cheaper since yesterday.’ If the current product has achieved the lowest price, a message like ‘the lowest price in 30 days’ appears.

The signal is based on the discounted price, including both discount coupons and shipping fees. Different signals are displayed depending on the range of coupons held by each individual customer.

The service that displays a notification message when the price drops to the lowest price is scheduled to be launched at the end of this month. If there is a product in the customer's shopping cart that has become the lowest price within the last 30 days, a push message will be sent immediately.

The Signal service applies to all product categories on Gmarket and to all products with a certain purchase history within one year. Products from sellers whose prices have increased or whose service scores are low will not display the signal. Some lifestyle categories such as rentals, e-coupons, and tickets are excluded from the service scope.

Kim Sinhye, team leader of the PX Division at Gmarket, said, “We planned the Signal service to provide information that helps determine not only the price competitiveness of Gmarket products but also the optimal purchase timing.” She added, “We plan to continuously introduce price competitiveness enhancement services so that customers can enjoy a pleasant shopping experience without any doubts or questions about prices during the purchase decision process.”