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-Pre-order sales method ‘funding’ sales increased 5.5 times, driving sales

At this time, many places complaining of industrial sluggishness due to the coronavirus in 2020, there is a new industry that recorded a whopping quadruple growth compared to the previous year. That is the funding & curation platform HAGO. By September of this year, sales surged nearly four times (372%) compared to the same period last year.

It is an analysis that the funding and curation in which a variety of high-quality fashion designers are introduced and experts directly select and recommend products that customers want have increased the shopping convenience and satisfaction of consumers. It also gave power to the untact trend of online shopping.

In fact, as a result of analyzing the total sales of the platform from January to September this year, it was calculated that the increase of 372%, which was four times compared to the same period of the previous year, was calculated. In particular, sales in the funding division of the pre-order and post-production methods, which are considered as strong points of Hago, increased 5.5 times (450%), driving sales growth.

The funding method seems to have caught the sentiment of consumers who want to purchase high-quality designer brand products at reasonable prices. Among the funding products, the sales of accessories, including jewelry and bags, increased 6 times (500%) during the period and nearly 9 times (796%) in the shoe category.

In the case of the Hagobaek line, which is being introduced as a representative funding product, only the number of funding for one product called “Hago Saddlebag” was conducted 118 times until this September. In addition to this, the average number of funding for the Gobaek line continues more than 100 times, with “Hago Bucket Bag” funding 105 times and “Hago Shopper Bag” funding 109 times. In January 2017, when the funding method was not common, the company opened the platform and introduced a crowdfunding method at the same time as the analysis that steadily attracting consumer satisfaction in terms of quality and price played a big role.

In terms of sales growth by item other than funding, sales of fashion apparel surged 440%, and sales of miscellaneous goods such as shoes also showed an increase of 392%.

The loyalty of customers in their 30s and 40s with high consumption power also affected the increase in sales. In fact, sales in their 30s (420%) and 40s (400%), the main consumers of Hago, increased more than five times from last year, and tens (135%) and 20s (215%) were also two to three times more than last year. It turned out to have purchased more.

Hong Jung-woo, CEO of Hago L&F, said, 'The quality of products, reasonable price range, and curation products carefully selected by experts provide high satisfaction to consumers, and sales are steadily rising.' Despite taking a relatively long time, it has gained popularity and has become the center of sales growth.”