Shinsegae bids to be Korea’s Amazon

Date : 27 February 2019

Hailed as South Korea’s answer to Amazon, Shinsegae is to launch SSG.com in March 2019 by integrating its two online businesses.

Integration driven by demand

SSG.com is formed by combining Shinsegae’s two online business units, the Shinsegae mall and the Emart mall. The company made the announcement back in January 2018 and is now going ahead with the plan.

The integration of online shopping operations is to effectively absorb a rapidly growing demand for e-commerce deals under the single brand of SSG.com,” a company spokesman commented.

Getting ready to become top ecommerce performer

Shinesgae has set ambitious goal for SSG.com. The online business aims to achieve sales revenue of KRW3tn (US$2.8bn) in 2019, a year-on-year growth of 29%.

The company hopes to achieve this ambition through effective marketing as well as much improved delivery service.

Investment will be made to open the company’s third distribution centre in Gimpo, Gyeonggi, in the second half of 2019 to improve delivery efficiency and speed.

With the official launch of SSG.com, we are getting ready to become the country’s top e-commerce enterprise,” said Choi Woo-jung, the CEO of SSG.com.

Instead of just selling goods online, we are also planning to function as a ‘Linker’ by connecting consumers online and offline like [offering them the platform to] share their lifestyles on the internet.”

 

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