Ticket Monster is planning to rise back to the top in the South Korean social commerce market by means of three new business plans after having changed hands several times.
On November 3, the company announced that it would begin to sell fresh foods early next year via its direct purchase stores dubbed Super Mart. This can be seen as an expanded version of its online mall selling the same products via direct delivery from local vegetable and fruit farmers and meat and fish suppliers. Items available at Super Mart stores are slated to be expanded to cover refrigerated and frozen foods as well.
In this context, the company is going to procure refrigerator trucks and increase the ratio of same-day delivery. “In the food market, online sale accounts for less than 5%, which means this business is highly promising,” the company explained, adding, “We will concentrate on the consumers including single-person households by making use of our advantage as an online firm that can supply the same product at a lower price.”
According to the other two plans, the company is going to work with global shopping malls while setting foot in the online travel market. Specifically, the company is planning to let in dozens of U.S. and European department stores and shopping malls such as Neiman Marcus, Saks Fifth Avenue and YOOX so that their products can be purchased by consumers in South Korea in a very convenient way and the very concept of overseas direct purchase, which requires cumbersome procedures in many cases, can be replaced.