StyleShare(스타일쉐어), a fashion and beauty information-sharing platform, has exceeded 10 billion won (~8.8M USD CC) in transactions within 12 months of launching the service since last April. StyleShare is a fashion and beauty information sharing app that has 2.8 million active users, and was officially launched in April last year. Since the launch, the app has recorded a monthly average transaction growth rate of 30%.
Styleshare is different from other ordinary mobile e-commerce applications. While most shopping apps are used to purchase products, StyleShare extends the function of social network to the world of ecommerce, whereby information is shared among people with similar interests. Unlike other applications, Styleshare’s weekly average revisit rate is as high as 78% because of the beneficial aspects of social network. Content platforms such as Instagram and Pinterest are already leading the e-commerce transformations outside of Korea. The commerce function is gradually embedded in the buttons for purchasing the items in the photograph.
The reason Styleshare is attracting attention as a shopping channel is the fact that users can directly generate and share content of their choice. Users take photos of everyday fashion styles or post products after purchasing them. Information navigation leads to purchase, and purchase leads to creation of another content. Currently, over 10,000 new shared posts are produced a day. The cumulative posts has exceeded approximately 9 million to date.
StyleShare currently sells over 600 brands and 25,000 products. Typical brands include Whoau, Beyond Closet, Charms, Dr. Jart+, and Cosrx.
“It is a distinct feature of Styleshare – coexistence of shared content and purchase options that differentiates us from our competitors” said Yoon Ja-young. “I’d like to grow this platform to be enjoyed by many users who are interested in fashion and beauty.”
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