1-903, 18 Eonju-ro 146-gil,
Gangnam-gu, Seoul, Korea
Welcome to the 22nd issue of Inquivix Insights! In this issue, we take a look at some of the latest trends in digital marketing in South Korea. We also explore how businesses can use content marketing to boost their operations. And finally, we bring you updates on developments in easy payment platforms. We hope you find this issue informative and useful!
Musinsa, Styleshare, and Today’s House Emerge as the Gateway to Influencers
Musinsa, StyleShare, and Today’s House are just a few of the vertical marketplaces enabling influencers from the MZ generation to establish themselves. This is because customers with high involvement in a specific topic are gathered in one place, allowing the up-and-coming influencers to quickly form an initial fandom.
Samsung’s Violation of Labeling and Advertising Act to be Reviewed by the Fair Trade Commission
The Fair Trade Commission (FTC) will investigate allegations of exaggerated advertising surrounding Samsung Galaxy S22 series game optimization service (GOS) performance. GOS is a program that regulates how the graphic processing unit (GPU) operates in order to minimize heat and battery usage while playing a high-performance game. The FTC has been notified that Samsung Electronics has broken the Labeling and Advertising Act in terms of GOS performance. Based on this, it will conduct a preliminary inquiry and decide whether to begin a formal investigation later.
Short-Form Video Content Attracts Younger Users
According to a study conducted by Open Survey, the younger the age group, the more active they were in the consumption and creation of “short form” video content. According to the research, 75.5% of teenager users have watched short-form video material such as Shorts, Reels, and TikTok. The percentage of teenage respondents who reported having produced content themselves was 8.9%, the highest response rate for all age groups.
Instagram Removed Boomerang and Hyper Lapse Apps.
Instagram has discontinued individual apps like “Boomerang” and “Hyperlapse”. Instagram has also stated that it will discontinue the IGTV app. The main reason for shutting down the related applications, according to the firm, is that Instagram’s own app already provides similar capabilities. Instagram allows you to share content such as photos, videos, stories, reels, live broadcasts, and carry out online purchases.
The Retail Industry Is So Eager to Join the “Pay War”
The easy payment system, which was originally created mostly by eCommerce firms, has evolved into a “core system”. This year, offline retail businesses and fashion platforms are expected to launch simple and easy payment methods. This is because the easy pay service allows you to develop long-term customers rather quickly. Another advantage of easy payment methods is the data can be utilized as big data.
Lotte Home Shopping Joins Content Commerce
The South Korean retail sector is interested in content commerce, which mixes product sales elements with enjoyable video material like quiz shows and entertainment programs. Lotte Home Shopping has chosen to join in the new trend by partnering with Green Bam Media, a content producer. It has a goal of co-producing films for cable TV and internet video platforms, as well as promoting content commerce.
Chai Communications’ Metaverse Marketing Signal
A WEBXR-based metaverse website has been created by Chai Communication, a digital advertising firm. The Metaverse site’s primary goal was to provide users with the ability to explore 3D space freely using its own technology. In keeping with the idea of ‘Chai Meta Universe’, a futuristic digital environment was constructed for the express purpose of surrealism in a mysterious virtual realm.
So what does all of this mean for businesses? It means that content marketing is still an incredibly powerful tool. Businesses, online and offline, are using it to get more customers. And some platforms are promoting user-generated content allowing creators to establish themselves. To take digital marketing a step further, Chai Communication is creating a metaverse. Also, it will be interesting to see how the FTC’s investigation into Samsung pans out and whether or not they are found guilty of violating labeling and advertising laws. Stay tuned with Inquivix Insights as we continue to bring you insights from South Korea and around the world.