Cheil Worldwide has launched its own e-commerce platform named GETTT in South Korea, offering a rental-based way for consumers to try out new products.
Online shopping turnover in Korea recorded all-time high of KRW 42 trillion (US$37.66bn) in the third quarter of 2020, but there are still limitations in online shopping as consumers must heavily rely on product description and purchase postscript. According to an online survey conducted by Cheil Worldwide, 79% of respondents in their 20s-40s replied that they have regretted online shopping.
In a bid to address that regret, Cheil aims to offer flexibility with GETTT. Consumers can rent a product and seamlessly switch to purchase if they like the product. The purchase price is discounted based on the number of times the product has been rented by consumers. If consumers wish to buy the product in new condition, they can purchase it by returning the product they have rented, or simply buy it without using the rental service.
Around 70 lifestyle brands ranging from fashion to interior, beauty and tech have opened stores in GETTT, an acronym for GET THE TASTE. The platform also offers different services to supplement limitations of online shopping which includes free trial of selected brands, and fitting delivery service that enables consumers to try out fashion items at home and return for free.
The platform also offers a B2B rental service, aimed at content companies who need various outfits and props. This is expected to improve rental pricing and process efficiently for small to medium productions and creators.
The company said that having its own e-commerce platform will enable it to strengthen its digital marketing capabilities through accumulating expertise in e-commerce business and customer behaviour analysis.
“We look forward to proposing insightful trends through utilising Cheil Worldwide's creative and data-driven marketing capabilities,” said the representative from GETTT. “GETTT will continue to provide new opportunities to experience the different taste and lifestyles and help connect lesser known brands with consumers who appreciate them.”
Sourced from Cheil Worldwide