Updates: We have edited the title to emphasize that it is Qoo10’s mobile app that is celebrating its first anniversary, and not the company itself.
Most of us are familiar with eBay and Gmarket. They power some of the largest e commerce transaction volume around the world. What some of us might be unfamiliar with is that both eBay and Gmarket have been working together for about a year now to release its joint mobile app, Qoo10.
Qoo10 is owned by Giosis Private Limited, a joint venture between eBay (49%) and Gmarket Inc. founder Ku Young Bae (51%).The company provides its customers products in the following categories: fashion and clothing, beauty and sports, digital and mobile, living and autos, baby and food, books, music, and leisure.
With the first birthday of its mobile app, Qoo10 announced that it has nearly S$15 million in mobile sales transacted via 700,000 mobile app downloads. Of these, Qoo10 Singapore has contributed more than 450,000 mobile app downloads and $S 5.5 million in mobile sales. This is equivalent to 64% of global mobile app downloads and 40% of the global mobile sales. Overall, there were nearly a million global mobile transactions, with Singapore contributing more than 420,000.
Other than that, Qoo10 expects to transact S$ 18 million via its mobile app by the end of 2012, with an expected contribution of S$ 7 million from Singapore. Locally, mobile commerce is expected to increase from S$ 328 million in 2011 to S$ 3.1 billion in 2015 . Qoo10 has proven to be a market leader in identifying and inculcating mobile customer relationships.
In appreciation towards its mobile app users, Qoo10 is also organizing a Global Thank You event where users can get the chance to win up to SG$ 1 million worth of prizes, which include the iPhone 5, the new iPad and branded items such as Yves Saint Lauren bags.
Read on for the full press release.
Qoo10 Pushes Retail On The Move: Nearly SGD15 million in mobile volume transacted via 700,000 mobile app downloads within one year of its launch
1. Qoo10 celebrates the first year of its mobile app launch with the 700,000th download and nearly SGD15 million of mobile sales. The mobile app is available in three languages and is localised according to each country Qoo10 is based in, namely Singapore, Japan, China, Hong Kong, Indonesia and Malaysia.
2. Qoo10 Singapore has contributed more than 450,000 mobile app downloads and SGD5.5 million of mobile sales. This is equivalent to 64 per cent of the global mobile app downloads and 40 per cent of the global mobile sales. Overall, there were nearly one million of global mobile transactions, with Singapore contribution of more than 420,000.
3. Qoo10 experienced a quarter-over-quarter global mobile transaction growth of 53 per cent from Q1 to Q2, and 120 per cent from Q2 to Q3. Qoo10 Singapore experienced a mobile transaction growth of 30 per cent from Q1 to Q2, and 75% from Q2 to Q3. The global mobile transactions in 2012 Q1, Q2 and Q3 are 150,000, 230,000 and 500,000 respectively. Qoo10 Singapore contributed 81,000, 105,000 and 184,000 at each quarter respectively.
4. In June 2012, Qoo10 global transactions stood at 1.2 million and the mobile transactions, 84,000. The percentage of mobile transaction is 7 per cent of the overall transactions. Forward to September 2012, Qoo10 global transactions stood at 1.4 million and the mobile transactions, 207,000. The percentage of mobile transactions has increased to 15 per cent in just three months.
5. Qoo10 expects to transact SGD18 million via its mobile app by the end of 2012, with forecast on Singapore’s contribution at SGD7million. In Singapore, mobile commerce is expected to increase from SGD$328 million in 2011 to SGD$3.1 billion in 2015 . Qoo10 has proven to be a market leader in identifying and inculcating mobile customer relationships.
6. Qoo10 Singapore Country Manager Mr Cho Hyun Wook said, “Qoo10 Singapore is dedicated to serving this growing customer base of mobile users. As the country moves toward 4G, we work to optimise the mobile shopping experience by creating the best balance between mobile speed and mobile content. This will translate into presenting the most relevant content according to the personalised usage of each and every mobile user within the fastest possible time. Qoo10 Singapore’s vision is to provide a mobile platform where users can transit between shopping, comparisons, payment and delivery seamlessly.”
7. In appreciation towards its mobile app users, Qoo10 is organising a Global Thank You Event (http://www.qoo10.sg/gmkt.inc/Event/QPost.aspx) where users can stand to win up to SGD1 million worth of prizes. They include iPhone 5, the new iPad and branded items such as Yves Saint Lauren bags.
About Giosis Private Limited
Giosis Private Limited is a retail e-commerce marketplace offering sellers customisable sales strategies and buyers an extensive product portfolio. It is a joint venture established between eBay Inc. and Gmarket founder Inc., Mr Ku Young Bae, in April 2010. Today, Giosis provides seven localised marketplaces, Qoo10, in five countries – China, Hong Kong, Japan, Indonesia, Malaysia and Singapore. It partners esteemed enterprises such as Yahoo to enable e-commerce of the best deals in almost every country. Qoo10 Singapore has 700,000 registered users and facilitates 25,000 transactions per day. For more information about the company, please visit our website at http://www.qoo10.sg/.