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KOREAN INTERNET RETAILERS TO BE BACK IN THE BLACK THIS YEAR.
SEOUL, May 1 Asia Pulse - Korean Internet shopping malls that have been operating under chronic deficits look likely to return to the black this year, industry sources said Wednesday.
LG eshop, Samsungmall, Interpart, Hansol CS Club and other major shopping malls have shown considerable first-quarter sales growth this year.
Relevant industry experts point out that it is essential to improve the marketing structure of goods being sold via Internet shopping malls, to diversify marketing strategies as well as hike sales to further growth in the coming years.
LG eshop (www.lgeshop.com) run by LG Home Shopping registered first-quarter sales of 57.8 billion won (US$44.67 million), up an overwhelming 360 per cent from the same period last year.
Samsungmall (www.samsungmall.co.kr) of Samsung Corp. posted net profit of 500 million won on a turnover of 69.46 billion won during the reported quarter, staying in the black for consecutive quarters for the first time.
Samsungmall held a free gift event in February to celebrate its good performances.
Hansol CS Club (www.csclub.com) and Interpark(www.interpart.com) also posted a surplus during the reported quarter.
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Source: HighBeam Research, KOREAN INTERNET RETAILERS TO BE BACK IN THE BLACK THIS YEAR.