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Live commerce is a home shopping-like online service that uses mobile shopping platforms or social media for live streaming. The service allows two-way communication between shopping hosts and viewers. Various questions about the product being sold can be easily asked through video chatrooms. The online service was adopted by department stores and cosmetics companies as demands for virtual shopping promotions had increased amid the COVID-19 pandemic.
Government data showed that the number of South Koreans traveling abroad significantly decreased from some 28 million in 2019 to about 4.3 million in 2020. Demands for staycation and camping increased amid the COVID-19 pandemic. According to a survey of 13,000 people conducted by market research firm Consumer Insight, 17 percent said their interest in staycation increased after the outbreak. The domestic camping population also increased from some 5.3 million in 2019 to 6.89 million in 2020.
Demands for international travel has been rapidly increasing as the government has allowed vaccinated people to enter South Korea without quarantine since March 21. As of April 18, South Korea lifted social distancing regulations. Despite a warning from the World Health Organization (WHO) that COVID-19 is far from becoming an endemic disease, South Korea is currently going through a step-by-step process of lifting various restrictions to help vitalize the sluggish domestic market.
CJ OnStyle said in a statement that the company will sell flight and hotel packages for Guam on April 21 through a live commerce show. The company will also provide polymerase chain reaction (PCR) tests, which cost about 100,000 won ($80.9), for those who purchased the package. "We will gradually increase the number of live commerce broadcasting services specializing in travel products with high customer demands," an unnamed CJ OnStyle official said in a statement.
Data released by Kyobo Securities' research center showed that the domestic live commerce market, standing at about 2.8 trillion won is projected to reach 10 trillion won in 2023. The main consumer group of the live commerce service is millennials and Generation Z while TV home shopping channels are still consumed by middle-aged viewers.
reporter
Kim Joo-heon
jhkim123@ajunews.com
