South Korean home shopping channel to launch in Thai market
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South Korean High Shopping Co, a joint venture between InTouch Media and Hyundai Home Shopping, is set to become the third South Korean home shopping operator to enter the Thai market, with a launch in Vietnam slated for the second quarter of 2016.
High Shopping’s goal is to be among the top three players in Thailand’s 20-billion-baht home shopping market by 2020, according to the Bangkok Post. “Thailand’s home shopping market has a lot of potential, with annual 20 percent growth to reach 20 billion baht in 2020, double the revenue last year,” explained Lee Hae-seung, High Shopping’s Chief Executive.
Home Shopping currently represents just 0.5 percent of Thailand’s retail industry, compared to 4 percent in South Korea. High Shopping is predicting that, of the 2,500 products it will offer for sale by mid-2016, cosmetics and kitchenware will be the best-sellers.
The inventory will initially be made up of premium Korean brands, with international brands once the channel is established. The shopping channel is hoping to achieve sales of THB4.5 billion by 2020, with a 25 percent market share.
The company is planning to broadcast on satellite TV platforms initially before expanding to cable and mobile devices.
Questions & Answers
Q.Which companies formed the joint venture High Shopping Co.?
Which companies formed the joint venture High Shopping Co.?
High Shopping Co. Is a joint venture established between InTouch Media and Hyundai Home Shopping. This partnership aims to enter the Thai and Vietnamese markets.
Q.Which product categories are expected to be High Shopping's best-sellers in Thailand?
Which product categories are expected to be High Shopping's best-sellers in Thailand?
High Shopping predicts that cosmetics and kitchenware will be its best-selling product categories. These items will be among the 2,500 products offered by mid-2016.
Q.How will High Shopping initially broadcast its channel to customers?
How will High Shopping initially broadcast its channel to customers?
High Shopping plans to initially broadcast its channel on satellite TV platforms. The company intends to expand to cable and mobile devices at a later stage.
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