On September 9th, we had the opportunity to open a webinar in partnership with Marqvision about how foreign brands can effectively sell on Korean e-commerces and also how brands can protect themselves from fakes in Asia. In this article, we would like to summarize and share the information and insights presented both from Asiance and Marqvision. At the bottom of the article, you will find a form which you can fill out to receive the full replay.
The first half of the webinar was presented by Asiance going through an overview of the Korean digital market along with the latest trends on Korea’s e-commerce.The increasing usage of social media and Korean’s openness towards new brands were reasons for why the Korean market can be a potential entry target for foreign brands.
Then, once a brand decides to enter the Korea market, what are some customer behaviors that brands should be aware of? Koreans have a high preference in using local platforms when searching, comparing and purchasing a certain product. Thus it is essential for foreign brands to understand the local platforms and localize their contents. The recommended steps for entry brands is first launching an e-retailer shop and then a localized e-commerce to fully establish a local digital presence.
After a brand successfully enters the Korean digital market, the next challenge is how to protect the brand and customers from buying fake products. Now, as more customers are using online methods along with the various social medias, the online counterfeit economy is exploding worldwide. This is where Marqvision’s technology and expertise comes in. Marqvision is a company that uses their artificial intelligence to detect and remove counterfeit products from digital platforms. Compared to the traditional manual procedure of detecting counterfeit products, Marqvision’s AI’s technology is automatic which is much more advanced, sophisticated and time-efficient to protect brands. Now that the shopping trend for Korean customers is highly inclined to online and mobile shopping, this feature is now a must to prevent unwanted customer journeys and brand image infringement.
In preparation for a new market entry into the Korean market, we hope this webinar was helpful for brands to gain useful information and insights on the Korean digital ecosystem.
Fill out this form so that we can send you the full replay.