Qoo10 is expanding its product range by introducing eco-friendly items and launching a series of private label (PB) products. This strategy aims to enhance product competitiveness and reclaim customers from rivals like Coupang and AliExpress.
Surge in PB Product Sales
According to Qoo10 Group, sales of Interpark Shopping’s PB products have surged by approximately 400% within seven months since their launch in September last year. Interpark Shopping, now the base for the group's PB product planning and production, oversees all processes from planning to production. Since last July, Interpark Shopping has launched 14 PB products, including water, capsule coffee, probiotics, tights, and kitchen towels. The company plans to release around 10 new PB products in the first half of this year, expanding from household items to functional cosmetics and health supplements.
Customization and Market Expansion
A Qoo10 representative stated, "Each platform has distinct strengths and caters to different customer preferences. We analyze these characteristics to create tailored products and expand our market." Leveraging Interpark Shopping's deep understanding of products and brand collaborations, Qoo10 aims to continuously develop attractive products.
International Expansion and Profitability
Qoo10 is also showcasing its PB products on its international platforms to enhance profitability through exports. The company plans to specialize in different products for each platform, with Tmon focusing on food PB products and WeMakePrice on beauty PB products. This strategy will extend PB product sales to other affiliates, broadening their product range.
Commitment to Eco-Friendly Products
Qoo10 is committed to specializing in eco-friendly products. In response to growing consumer concerns about product quality, Qoo10 has partnered with the Ministry of Environment and the Korea Environmental Industry and Technology Institute to host the "Household Chemical Products Exhibition," running until June 16. This event features products that meet safety standards and disclose all ingredient information, aiming to attract consumers seeking safe household chemical products.
Addressing Consumer Safety Concerns
An industry insider noted, "With hazardous substances being found in products sold on Chinese online platforms like AliExpress and Temu, consumer anxiety is rising. In this context, Qoo10 Group’s Tmon, WeMakePrice, and Interpark Shopping are increasing PB product launches and disclosing chemical ingredients to alleviate consumer distrust and safety concerns."
This comprehensive approach not only aims to regain lost customers but also establishes Qoo10 as a reliable source for safe and eco-friendly products.
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