[Courtesy of CJ Onstyle]
A live commerce show is the online version of a TV home shopping show. Show hosts and viewers can communicate in real-time to ask questions and request more detailed shots of the product that is currently being sold. The new format has become popular in South Korea in 2020 when people chose to shop at home instead of visiting crowded shopping malls to prevent the spread of COVID-19.
The show hosted by popular actress Lee Yu-ri will be broadcast through CJ ENM's YouTube channel. Products will be sold through CJ Onstyle's live commerce channel. "Starting with this program, we will go beyond the TV platform to expand our businesses out to digital media," an unnamed CJ Onstyle official said in a statement on October 25.
South Korea's live commerce market has seen explosive growth over the last two years. According to Kyobo Securities, the live commerce market that stood at 400 billion won ($342 million) in 2020 is projected to grow about seven times larger in 2021 to reach about 2.8 trillion won.
The popularity of online shopping shows was boosted by a coronavirus pandemic that hit South Korea in early 2020. According to data released by the national statistics office, some 161.1 trillion was transacted through online shopping malls in 2020, up 19.1 percent from 25.8 trillion won a year ago. Money spent on food deliveries, groceries and everyday necessities has greatly increased.
According to Shinhan Card's data, the number of mobile shopping transactions made by customers in their 50s and 60s in 2020 was up 64 percent on-year, becoming the main user group in the mobile shopping market.
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