Mobile Live Commerce Performance... Transaction Volume Up 108%
CJ ENM's commerce division-operated CJ OnStyle continued its improvement in operating profit in the second quarter of this year, in addition to external growth. This is interpreted as the One Platform 2.0 strategy centered on mobile live commerce yielding results.
CJ ENM announced on the 8th that the operating profit of the commerce division in the second quarter of this year was tentatively estimated at 27.5 billion KRW, a 47.1% increase compared to the same period last year. During the same period, the commerce division's sales recorded 371.9 billion KRW, a 7.6% increase.
Accordingly, CJ OnStyle saw both external growth and operating profit increase for two consecutive quarters compared to the same period last year. In particular, mobile live commerce is showing solid growth. CJ OnStyle's mobile live commerce transaction volume grew 108% compared to the same period last year.
CJ OnStyle explained that the One Platform 2.0 strategy centered on mobile live commerce has produced results. One Platform 2.0 is a strategy that organically combines TV, mobile, and mobile live commerce, strengthening mobile live by utilizing YouTube and short-form content.
In the second quarter, CJ OnStyle introduced new product lines such as ▲Inspire Resort ▲Roborock ▲VT Cosmetic Lead Shot through mobile live commerce. Additionally, the large-scale first-half promotion 'Come On Style' held in April showed favorable results, and combined with the effects of membership restructuring, it also succeeded in expanding the customer base. Through Come On Style, new customers and repurchase rates increased centered on the digital platform.
CJ OnStyle stated, "Profits grew based on strengthened new product sourcing capabilities and the expansion of mobile live commerce," adding, "The One Platform 2.0 strategy centered on mobile live commerce is progressing smoothly, resulting in a significant increase in operating profit."
CJ OnStyle plans to focus on fostering mobile live commerce based on the One Platform 2.0 strategy in the second half of this year as well. They will specify content strategies by major categories and introduce large-scale content commerce IP on mobile. Through this, they aim to increase new customer inflow and firmly establish the identity of a video content-based curation platform.
Along with this, they will also expand their portfolio of trend products such as fashion for the fall/winter (FW) season, beauty, and living. Program scheduling will not only target Olympic viewers but also respond to seasonal issues such as the Chuseok promotion.
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