Going Beyond Social Commerce
WeMakePrice unveiled a new search screen on Dec. 13, saying it intends to evolve beyond social commerce into a meta-shopping platform. It plans to collect and analyze data on 700 million products (metadata) from 230,000 shopping malls with its own artificial intelligence (AI) technology to provide customers with more detailed shopping data than before.
When a customer types in refrigerator in the search screen, it lists products purchased by domestic consumers at online shopping malls by price range and product characteristic. Consumers can check consumption trends while shortening their shopping time.
This service is a brainchild of CEO Ha Song, who took office in February. Born in 1977, Ha joined WeMakePrice in 2015. Since taking office as CEO, he has established a database of online shopping data and released 'search AI' that selects relevant data from the database and link them to its app.
WeMakePrice aims to become a "Google of commerce.” It also discarded its identity as a social commerce company. Since its launch in 2010, WeMakePrice has led the heydays of social commerce along with Coupang and Timon. Social commerce is a system that uses social network services (SNS) to jointly purchase products at lower prices.
WeMakePrice will launch a style comparison tab on Dec. 20. For items such as clothing, miscellaneous goods and cosmetics, it will provide customers with more detailed information such as colors and materials in addition to product names.