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Commerce 2.0 , It's Global Opportunity!

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Paul Jiwoong Chung
Paul Jiwoong Chung

6 10 CO-UP 企Π Commerce 2.0 ろ語れ 覈 覦 襭.

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Commerce 2.0Its Global Opportunity!2010.6.10 殊危CEO 讌
1. Commerce 2.0 ?
E-Commerce MarketB2C E-Commerce MarketU.S 153B$Japan 80B$U.K 55B$Germany 27B$China 18B$ andKorea 17B$ ( 21譟) 瑚 6
Its just beginning蠍一ヾ 蟇磯 觜 蟇磯 豺讌 4~6% 覿螻 襷る 20% 伎 煙ル
E-Commerce?轟 螳 觜襴 覲 覿 讌襷, 15 覦讌 覿
Commerce 2.0?Commerce 2.0 豺蟲朱Μ 狩蠍 = Social Web 牛蟇磯/旧 蟲譟一 覲 4螳讌 轟 蟲一 (Crowding)れ螳(Real Time)讌(Locality)螳誤(Personalization)
Commerce 2.0 ideas1.蟲一 (Crowding) = Demand Aggregation (Group Buying , Aggregating Niches )2.れ螳(Real Time)= Flash Sales , Customer Acquisition via SNS3.讌(Locality) = Local Market (Local Service , Retailer)4.(Personalization + Social Rating) = Customized Shopping , Social Review 蠏碁Μ螻 Mobile Web 1~4襯 螳る 豐襷Mobile Shopping Commerce 2.0
Commerce 2.0Social Web 螳讌 轟煙 伎,蠍一ヾ 蟇磯/ 蟲譟磯ゼ 襷 蟆1. 襦 襷ろ (New Kind of Shop)2. 襦 豺危螻襴 (New Category)3. 襦 (New Platform)
1.New Kind of ShopSocial Web 覃貉る讀 伎 襦 襷,牛襯 Group Buying , Flash Sales , Private Group Sales e.g) Groupon , Gilt Groupe , Woot
Groupon螻給蟲襷ろ 貎(Group Buying)襭視 1 1(Flash Sales)Local 觜るれ 襷貅 蠍一螳豺 1譟 8豌 (1.5B$) , 2050 豺
Gilt豐覦 れ蟆 襴 語 (Private Flash Sales)襴 觚れ 襷貅 蠍一螳豺 4豌8覦煙 (400M$) , 580 豺
2. New CategorySocial Web 牛 Niche Market Provider Buyer 覈手鍵 e.g) Etsy , foodzie , chegg
Etsy螳 一 觜 讌蟇磯 (P2P Market)Handmade 轟燕 襷貅 覦朱 蠍煙 30襷 襷れ , 2400 蟇磯 , 襷る 100% 煙 5000 蠍一螳豺 , 380 豺 , IPO
Chegg殊語朱 蟲螻殊襯 觜れ朱 Netflix 蟲螻殊 覯? 豈 れ~!6400 , 170 豺, 160 襷れ
3. New Plaform蠍一ヾ Platform ( 蟯螻 , ろ襷貅) , Social Platform 蠍磯 蟇磯 e.g) Facebook
Facebook瑚語 蟷 磯 語伎瑚 5給 覩瑚記 襯 1 危 (蟲蠍,狩襯 豺!)
Facebook
FacebookCommerce 弰朱 蟇磯 Facebook 5給 弰 語る?5給 襴觀磯ゼ 譯手 覦 る? 語伎 螻щ襦 覲願, 蟆一 る?Facebook 蠑碁 蠖 (Social Web 覲!)FbConnect + SocialGraph覈 麹伎,一危磯ゼ Facebook朱 旧!FbCredit伎る伎 螻щ襦 蟆一! (豺企覯 蠍一!)BigCommerce , Payvment覃危, 給貉in Facebook
2. FLY FANInnovate a e-commerce through social web
殊危TEAM 蟲 蠍一 豢 (NHN , NCSoft , Daum) 谿曙. 6 VisionInnovate e-commerce through the social web讌蠍蟾讌 伎 1forME.net ろ ( Asias Etsy ) 2010 125 蠏觜 ろ 7襷 ろ
Group Buying is More Than Just a Fad Groupon Clone War
BetterUs : eBay for Group Buying Matching group of retailers with groups of customers through a moderator No More groupon clone. Not a coupon Businesstransaction for physical goods Buying is like a Blind Date
ProblemsBuyersGroup buying is good. But, can I trust these products? I need trustworthy recommendation.TRUSTThis is weakness of Groupon too! Retailers Marketing is a issue Companies often need help creating viral marketing MARKETING Flexible selling make it difficult to lower distribution costs.FIXED AMOUNT SELLINGWILL ANYONE TAKE CARE OF THESE PROBLEMS FOR ME?
The solution Weve Found LearnedOne buyer (called the Moderator) takes a charge of each part of the group buying process. After buying, buyers rate the moderator. Helps buyers to choose the right product via recommendations.Helps retailers to find groups of customers quickly.Helps retailers with marketing using based on reputation.The Moderators RoleSelect from retailers offers (acts as a merchandiser)Facilitates exposure through their social media presence. (acts as a marketer) Recruits a group of customers (acts as a salesman) Learned from Korean Moms group buying patterns, a.k.a Group Buying Moderating by the Power Mom Blogger
1. Transaction List list of Deals Recommended by Moderator the Moderators Reputation limited time (flash sales)limited sales (fixed amount sales)the transaction is activated only if sales meet certain numbers
2. Moderator chooses the DealModerators Blog Twitter & FacebookRecruit Early-Bird Group
3. User rate the Moderator4. Group Dynamics Rewards vary according to buyers participation levelModerator
Early Bird group
Late Comer grouplike a pyramid.1) Moderator Free Product +Revenue Sharing 2) Early Bird GroupHeavy Discount (e.g 30%) 3) Late Comer GroupBasic Discount (e.g 20%) Additional Discount /w Referral Invitation
Market SizeHousehold/living products for moms/parents(25 to 45 age range)total addressable market opportunity is 2B$ in Korea , 18B$ in U.Swith 20% annual growth rate emerging & untapped Marketslow e-commerce penetration percentages so far (1~4%)market where trusted group buying works well.
Business Modeltransaction fee from retailers future potential #1 : advertisingtarget ads about retailers other goodsfuture potential #2 : subscriptions more discounts for a private group of paid membersAdjustmentCheckoutretailer group of buyersBetterUsShipping
Technology / AdvantageCore technology rating the Moderator according to feedback from retailers & buyers rewarding buyers according to participation level We Developed a rating/rewarding algorithm based onvarious Korean online games & multi-level marketing campaigns.TEAM The team members have extensive backgrounds in blogosphere commerceWe have strong connection with Power Mom BloggersThe Team knows what makes Trusted Group Buying tick
Value to the Customer
Value to Retailerssmall retailerguaranteed fixed amount of sales mid to large retailer viral marketing channelfeedback from early adopter Groupcompany in product development
Road Map end of July 2010 4Q 2011 launch launch expand in Korea one of US city to global ( e.g L.A ) ( Asian retailers ( global retailers and U.S Moderators) and Moderators )
Vision : Third Wave of Online MarketplaceKOREA U.SBetterUs
3. Global Opportunity
Web 2.0 觜讀れ 覲BM of Web 2.0 Business = Advertsing Only 譟伎 Simple Business Model Social Web 轟煙 企Π 觜る 螻螳 觜 旧蟆曙レ朱 (Low Customer Acquisition Cost)觜讀り 炎概螻 !Commerce 2.0 觜讀り るゴ 伎
蠍襦覯 豪讀れ 覲蟲 蟲 轟 Local Behavior襯 Global Model襦 覲伎 Global Launch! 觜襴 企螻, 蠍襦覯 ろ 蟲 CyWorld => Facebook讌 => Yahoo Answers , Mahalo殊瑚 給 => Zynga , Tencent
Silicon Valley is just a state of mind http://techcrunch.com/2010/06/01/geeksonaplane-in-korea-12-demos-from-local-startups/
蠍壱 , 蟲 瑚 1 觚襦覦企 覲願襯(95%) , 覦 蟇磯覈覦(3G) 誤殊 Coverage觜 , 螻讌 覲伎 朱 蟲 觜 螻 蟾る 蠍一 = Global Test Market 24螳 轟 覦一

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Commerce 2.0 , It's Global Opportunity!

  • 1. Commerce 2.0Its Global Opportunity!2010.6.10 殊危CEO 讌
  • 3. E-Commerce MarketB2C E-Commerce MarketU.S 153B$Japan 80B$U.K 55B$Germany 27B$China 18B$ andKorea 17B$ ( 21譟) 瑚 6
  • 4. Its just beginning蠍一ヾ 蟇磯 觜 蟇磯 豺讌 4~6% 覿螻 襷る 20% 伎 煙ル
  • 5. E-Commerce?轟 螳 觜襴 覲 覿 讌襷, 15 覦讌 覿
  • 6. Commerce 2.0?Commerce 2.0 豺蟲朱Μ 狩蠍 = Social Web 牛蟇磯/旧 蟲譟一 覲 4螳讌 轟 蟲一 (Crowding)れ螳(Real Time)讌(Locality)螳誤(Personalization)
  • 7. Commerce 2.0 ideas1.蟲一 (Crowding) = Demand Aggregation (Group Buying , Aggregating Niches )2.れ螳(Real Time)= Flash Sales , Customer Acquisition via SNS3.讌(Locality) = Local Market (Local Service , Retailer)4.(Personalization + Social Rating) = Customized Shopping , Social Review 蠏碁Μ螻 Mobile Web 1~4襯 螳る 豐襷Mobile Shopping Commerce 2.0
  • 8. Commerce 2.0Social Web 螳讌 轟煙 伎,蠍一ヾ 蟇磯/ 蟲譟磯ゼ 襷 蟆1. 襦 襷ろ (New Kind of Shop)2. 襦 豺危螻襴 (New Category)3. 襦 (New Platform)
  • 9. 1.New Kind of ShopSocial Web 覃貉る讀 伎 襦 襷,牛襯 Group Buying , Flash Sales , Private Group Sales e.g) Groupon , Gilt Groupe , Woot
  • 10. Groupon螻給蟲襷ろ 貎(Group Buying)襭視 1 1(Flash Sales)Local 觜るれ 襷貅 蠍一螳豺 1譟 8豌 (1.5B$) , 2050 豺
  • 11. Gilt豐覦 れ蟆 襴 語 (Private Flash Sales)襴 觚れ 襷貅 蠍一螳豺 4豌8覦煙 (400M$) , 580 豺
  • 12. 2. New CategorySocial Web 牛 Niche Market Provider Buyer 覈手鍵 e.g) Etsy , foodzie , chegg
  • 13. Etsy螳 一 觜 讌蟇磯 (P2P Market)Handmade 轟燕 襷貅 覦朱 蠍煙 30襷 襷れ , 2400 蟇磯 , 襷る 100% 煙 5000 蠍一螳豺 , 380 豺 , IPO
  • 14. Chegg殊語朱 蟲螻殊襯 觜れ朱 Netflix 蟲螻殊 覯? 豈 れ~!6400 , 170 豺, 160 襷れ
  • 15. 3. New Plaform蠍一ヾ Platform ( 蟯螻 , ろ襷貅) , Social Platform 蠍磯 蟇磯 e.g) Facebook
  • 16. Facebook瑚語 蟷 磯 語伎瑚 5給 覩瑚記 襯 1 危 (蟲蠍,狩襯 豺!)
  • 18. FacebookCommerce 弰朱 蟇磯 Facebook 5給 弰 語る?5給 襴觀磯ゼ 譯手 覦 る? 語伎 螻щ襦 覲願, 蟆一 る?Facebook 蠑碁 蠖 (Social Web 覲!)FbConnect + SocialGraph覈 麹伎,一危磯ゼ Facebook朱 旧!FbCredit伎る伎 螻щ襦 蟆一! (豺企覯 蠍一!)BigCommerce , Payvment覃危, 給貉in Facebook
  • 19. 2. FLY FANInnovate a e-commerce through social web
  • 20. 殊危TEAM 蟲 蠍一 豢 (NHN , NCSoft , Daum) 谿曙. 6 VisionInnovate e-commerce through the social web讌蠍蟾讌 伎 1forME.net ろ ( Asias Etsy ) 2010 125 蠏觜 ろ 7襷 ろ
  • 21. Group Buying is More Than Just a Fad Groupon Clone War
  • 22. BetterUs : eBay for Group Buying Matching group of retailers with groups of customers through a moderator No More groupon clone. Not a coupon Businesstransaction for physical goods Buying is like a Blind Date
  • 23. ProblemsBuyersGroup buying is good. But, can I trust these products? I need trustworthy recommendation.TRUSTThis is weakness of Groupon too! Retailers Marketing is a issue Companies often need help creating viral marketing MARKETING Flexible selling make it difficult to lower distribution costs.FIXED AMOUNT SELLINGWILL ANYONE TAKE CARE OF THESE PROBLEMS FOR ME?
  • 24. The solution Weve Found LearnedOne buyer (called the Moderator) takes a charge of each part of the group buying process. After buying, buyers rate the moderator. Helps buyers to choose the right product via recommendations.Helps retailers to find groups of customers quickly.Helps retailers with marketing using based on reputation.The Moderators RoleSelect from retailers offers (acts as a merchandiser)Facilitates exposure through their social media presence. (acts as a marketer) Recruits a group of customers (acts as a salesman) Learned from Korean Moms group buying patterns, a.k.a Group Buying Moderating by the Power Mom Blogger
  • 25. 1. Transaction List list of Deals Recommended by Moderator the Moderators Reputation limited time (flash sales)limited sales (fixed amount sales)the transaction is activated only if sales meet certain numbers
  • 26. 2. Moderator chooses the DealModerators Blog Twitter & FacebookRecruit Early-Bird Group
  • 27. 3. User rate the Moderator4. Group Dynamics Rewards vary according to buyers participation levelModerator
  • 29. Late Comer grouplike a pyramid.1) Moderator Free Product +Revenue Sharing 2) Early Bird GroupHeavy Discount (e.g 30%) 3) Late Comer GroupBasic Discount (e.g 20%) Additional Discount /w Referral Invitation
  • 30. Market SizeHousehold/living products for moms/parents(25 to 45 age range)total addressable market opportunity is 2B$ in Korea , 18B$ in U.Swith 20% annual growth rate emerging & untapped Marketslow e-commerce penetration percentages so far (1~4%)market where trusted group buying works well.
  • 31. Business Modeltransaction fee from retailers future potential #1 : advertisingtarget ads about retailers other goodsfuture potential #2 : subscriptions more discounts for a private group of paid membersAdjustmentCheckoutretailer group of buyersBetterUsShipping
  • 32. Technology / AdvantageCore technology rating the Moderator according to feedback from retailers & buyers rewarding buyers according to participation level We Developed a rating/rewarding algorithm based onvarious Korean online games & multi-level marketing campaigns.TEAM The team members have extensive backgrounds in blogosphere commerceWe have strong connection with Power Mom BloggersThe Team knows what makes Trusted Group Buying tick
  • 33. Value to the Customer
  • 34. Value to Retailerssmall retailerguaranteed fixed amount of sales mid to large retailer viral marketing channelfeedback from early adopter Groupcompany in product development
  • 35. Road Map end of July 2010 4Q 2011 launch launch expand in Korea one of US city to global ( e.g L.A ) ( Asian retailers ( global retailers and U.S Moderators) and Moderators )
  • 36. Vision : Third Wave of Online MarketplaceKOREA U.SBetterUs
  • 38. Web 2.0 觜讀れ 覲BM of Web 2.0 Business = Advertsing Only 譟伎 Simple Business Model Social Web 轟煙 企Π 觜る 螻螳 觜 旧蟆曙レ朱 (Low Customer Acquisition Cost)觜讀り 炎概螻 !Commerce 2.0 觜讀り るゴ 伎
  • 39. 蠍襦覯 豪讀れ 覲蟲 蟲 轟 Local Behavior襯 Global Model襦 覲伎 Global Launch! 觜襴 企螻, 蠍襦覯 ろ 蟲 CyWorld => Facebook讌 => Yahoo Answers , Mahalo殊瑚 給 => Zynga , Tencent
  • 40. Silicon Valley is just a state of mind http://techcrunch.com/2010/06/01/geeksonaplane-in-korea-12-demos-from-local-startups/
  • 41. 蠍壱 , 蟲 瑚 1 觚襦覦企 覲願襯(95%) , 覦 蟇磯覈覦(3G) 誤殊 Coverage觜 , 螻讌 覲伎 朱 蟲 觜 螻 蟾る 蠍一 = Global Test Market 24螳 轟 覦一
  • 42. Its Global Opportunity !Commerce 2.0. 伎 襷 覲!蟲 e-commerce 螳 蟲螳!瑚記 炎概 覈語 蟲 scale襦 譴 螳蟆覲企, 蟲襷 螳讌 context襯 企Π 蠍襦覯 覈語 螳伎 . 蟲 譬蟆 , 蟲 蟆 豢覿 瑚 牛 る れ 譴も
  • 43. Watch Us!FLY FANCommerce 2.0 蠍一 http://flyfan.netjwchung@flyfan.netTwitter @jiwoongchung