Prism Achieves 'Grand Slam' of the World's Top 3 Design Awards

- PRIZM wins main prize at the US 'IDEA Design Awards 2024'
- Awarded all three major global design awards including iF Award and Red Dot Award

RXC (CEO Hanik Yoo), the operator of the retail media platform ‘PRIZM,’ announced on the 12th that it has won the main prize at the global design award ‘IDEA Design Awards 2024.’ With this achievement, PRIZM has accomplished the feat of winning all three of the world’s top design awards, gaining recognition for its brand and design competitiveness on the global stage.

The ‘IDEA Design Awards,’ hosted by the Industrial Designers Society of America (IDSA), is considered one of the three most prestigious design awards worldwide, alongside the ‘Red Dot Design Award’ and the ‘iF Design Award,’ both held in Germany. PRIZM’s recent IDEA award follows its main prize win in the Brand & Communication App category at the Red Dot Design Award last August and its win in the Communication App category at the iF Design Award this past February, further affirming PRIZM’s excellence in brand design.

PRIZM’s award-winning design stood out for its user experience-centered approach. While existing commerce platforms focused more on discounts and promotions than on products, PRIZM concentrated on conveying the unique identity of products and brands to consumers. This provided a distinctive experience that allowed consumers to understand and purchase the story and essence of the products and brands. In fact, PRIZM has established itself as a leader in digital media content that delivers consumer-friendly high-definition, high-sensitivity live and short-form content.

Additionally, PRIZM’s technical strengths were demonstrated through its interactive app design. The advanced interactive content responding to scroll gestures creates an environment where consumers can fully focus on the essence of products and brands. The ‘gyroscope sensor’ feature embedded in PRIZM shows brands in three dimensions according to the smartphone’s tilt, offering an experiential consumption culture that feels like seeing and shopping for products in a physical store, and is evaluated as a new alternative in commerce.

Through its user experience-centered design strengths, PRIZM has solidified its position as a leader in experiential consumption by leading exclusive collaborations with renowned artists. For example, PRIZM attracted significant consumer interest by presenting the ‘Banggasa-yusang Miniature Special Edition,’ created in collaboration with contemporary artist Osang Kwon and the National Museum Cultural Foundation’s ‘MU:DS,’ as well as an incense chamber born from a collaboration with artist Seungcheol Ok (AOKIZY), who has a strong fandom. Furthermore, PRIZM has shown a unique presence in the cultural and artistic K-IP (intellectual property) domain by releasing the first-ever limited edition bike collaboration in Korea between Jiyong Kim and Super73.

PRIZM’s interactive app design competitiveness is also recognized by global consumers. In May, it achieved a remarkable milestone by exclusively broadcasting the 60th Baeksang Arts Awards digitally live, recording a cumulative viewership of 2.7 million. Moreover, to cater to global viewers, PRIZM applied AI simultaneous translation technology in real time for six languages, providing subtitles in the viewers’ respective languages and receiving high praise. Previously, in December last year, PRIZM showcased its media capabilities to global audiences by introducing real-time AI translation during the 38th Golden Disc Awards free live show.

Fueled by these strengths, PRIZM’s overall corporate performance is rapidly improving. Transaction volume in experiential consumption areas such as hotels, resorts, and performances within the PRIZM platform increased more than tenfold compared to the same period last year, while overall marketing costs dropped to one-third of the previous year’s level, continuously enhancing platform efficiency. PRIZM, which has introduced collaborations across various fields, has been greatly loved by consumers, achieving high results such as an average spending of 700,000 KRW per customer and live viewing durations exceeding 10 minutes. These achievements stem from PRIZM’s virtuous cycle structure that offers customers special experiences and helps partners build unique brand images, generating strong promotional and marketing outcomes. Notably, the recent trend of consumers preferring immediate special experiences over ownership consumption is also considered to have influenced this growth.

Hanik Yoo, CEO of PRIZM, stated, “PRIZM has achieved the remarkable feat of sweeping all three globally authoritative design awards as a differentiated platform utilizing high-sensitivity digital media content. Based on this, we are pleased to have led special collaborations with top-tier partners in both retail and media sectors.” He added, “Having secured a solid growth momentum this year, we will accelerate efficient growth and deliver noteworthy results again next year.”