“Cremmerce”, a Korean Startup by IBL Accumulates over 110 billion Won inTransactions

“Cremmerce”, a Korean Startup by IBL announced on April 5 it has made over 110 billion won (about US$96.5 million) in accumulated transactions in just four years since its establishment. 

IBL introduced the “Creational + Commerce” model that incorporates creative content into shopping, which surpassed 99.9 billion won (about US$87.7 million) in accumulated transactions in December last year and surpassed 110 billion won (about US$96.5 million) in the first quarter of this year.

IBL has been growing rapidly, releasing about 3,200 ideas across a variety of fields. 

Since its establishment, the accumulated number of sales so far totals 7 million, with the average number of purchases per person standing at 2.8 and the average purchase amount standing at 43,200 won (about US$37.9).

IBL maximizes interesting storytelling elements and is betting on the game with attractive content that consumers have no choice but to click on. This strategy has led to a huge response, especially among the 2030 Millennial Generation.

In addition, the company continued to strengthen its own brand development to ensure competitive quality and plasticity costs and operates about 30% of the products sold as its own brand (PB) products, which also played a major role in improving customer satisfaction.

In addition to operating the shopping mall, IBL has been building up its interior with leading brand launchings, such as natural cosmetics brand “Dasoni,” auto product brand “Tiger One”, and the functional health supplement “Zanthisia.” Recently, it has even made inroads into the open Cremmerce market, challenging its new business model under the name Mallpen.

“We’ve been pursuing content-based commerce, which puts top priority on choosing the products we need in real life and communicating with our customers,” said CEO Park Chang-won. “In the future, we will not only strengthen ideas that our customers can satisfy but also evolve user-friendly Cremmerce content and innovative E-commerce 2.0.

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