Mobile Live Commerce Transaction Volume Soars by 92.4%
e-Commerce Sales Up 5.4% Year-on-Year
CJ OnStyle achieved solid results in the first quarter of this year, driven by the growth of its mobile live commerce business.
According to CJ ENM on May 8, CJ OnStyle (Commerce) recorded sales of 362.3 billion KRW in the first quarter of this year, marking a 4.2% increase compared to the same period last year. Operating profit was 26.2 billion KRW, representing a 0.2% decrease year-on-year.
The strengthening of video shopping content intellectual property (IP) and the strong performance of mobile live commerce contributed to the increase in sales. In particular, the transaction volume of mobile live commerce surged by 92.4% year-on-year, continuing its rapid growth. As a result of enhancing content commerce curation, e-commerce sales also rose by 5.4% compared to the previous year.
CJ OnStyle launched over 250 new brands in the first quarter, leveraging the robust fandoms of major IPs such as 'Choi Hwajeong Show', 'Good Life', 'Get It Beauty', and 'Han Yesul's What Should I Wear Today'. Since January, the company has also expanded its seven-day-a-week delivery service nationwide, which played a significant role in building its logistics infrastructure.
Looking ahead, CJ OnStyle plans to strengthen synergies between content and commerce and pursue external growth through global expansion. The company has designated this year as the inaugural year for expanding its video shopping content IP universe and will focus on developing the discovery-based shopping market.
In the second quarter, CJ OnStyle aims to maximize customer experience in content commerce through new mobile live commerce IPs featuring major celebrities and influencers, while also diversifying content IPs with short-form and mid-form content. Additionally, the company will launch CJ OnStyle sections on global e-commerce platforms, including in Japan, with a focus on the beauty and fashion categories. Within the first half of the year, CJ OnStyle will expand its seven-day delivery service to include direct-shipment products from partners and extend fast delivery services to mobile live commerce as well.
A CJ ENM representative stated, "The strong growth in live commerce transaction volume continues," adding, "We will focus on maximizing platform competitiveness with well-made content and restoring profitability."
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