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Levit: Making On-line Procuring Extra Entertaining and Reasonably priced
Seoul-based e-commerce firm Levit, the operator of the buying app Alwayz, is revolutionizing the net buying expertise by incorporating social options and gamification. With its current $46 million Collection B funding spherical, led by DST International Companions, Levit goals to boost the leisure worth and affordability of buying its customers.
Introducing Alwayz: A Social E-Commerce Platform
Alwayz is an e-commerce platform that goes past the standard mannequin by providing a variety of merchandise, from day by day groceries to house home equipment, attire, and cosmetics. What units Alwayz aside is its incorporation of social options and gamified parts into the buying expertise, making it extra participating and entertaining for patrons.
A Distinctive Procuring Expertise with Gamification
Alwayz stands out by providing customers the chance to earn rewards via varied video games and actions. For instance, customers can play video games and nurture the pig character Don-Don-E to earn rewards. Moreover, Alwayz launched a characteristic referred to as AI-Farm, the place customers can domesticate digital crops and obtain real-life crops as rewards. The platform additionally not too long ago launched Shorts, a characteristic that enables customers to look at quick movies and obtain reductions on their purchases in return.
Low Costs and C2M Mannequin
Considered one of Alwayz’s methods to draw clients is by providing low-priced merchandise. The platform employs a consumer-to-manufacturer (C2M) mannequin, which eliminates intermediaries like distributors and logistics firms. By immediately connecting shoppers with producers or producers, Alwayz can supply high-quality merchandise at decrease costs. This method permits the platform to have a median product promoting value that’s roughly 20% cheaper than different e-commerce platforms.
The Enchantment of Discovery-Primarily based Procuring
Levit believes that its video games and social options assist customers interact with the Alwayz app day by day, even when they do not have instant shopping for intentions. By leveraging customers’ excessive engagement, Alwayz exposes them to a variety of merchandise via its advice algorithms. This discovery buying expertise permits clients to discover and buy gadgets, even from lesser-known manufacturers.
High quality Assurance via Suggestion Algorithms
Levit ensures that low-priced merchandise on Alwayz preserve top quality via its advice algorithms. These algorithms assess all gadgets primarily based on components resembling conversion charges and buyer repurchase charges. Solely after an merchandise has confirmed its high quality will it’s broadly uncovered to customers, making certain a constant stage of product high quality on the platform.
Progress and Growth Plans
Since its launch in September 2021, Alwayz has skilled speedy development, attracting 7 million customers, with 2.5 million month-to-month energetic customers and 1.3 million day by day energetic customers inside one and a half years. Levit goals to succeed in bold milestones, with a goal of over 12 million registered customers, 5 million month-to-month energetic customers, and three million day by day energetic customers by the tip of 2023. The platform presently boasts practically 20,000 registered sellers.
The Imaginative and prescient of Levit Founders
The founders of Levit—Jaeyun Kang, Sangwoo Park, and Hyunjik Lee—have set their sights on two vital targets: establishing Levit as South Korea’s main e-commerce firm and capturing a major share of the worldwide discovery buying market. Whereas going through competitors from native friends like Coupang, Naver, and Kurly, Levit’s distinctive enterprise mannequin aligns it extra intently with worldwide platforms like Pinduoduo and AliExpress.
Increasing to the U.S. Market
Trying forward, Levit plans to broaden past its house nation and produce the Alwayz platform to the U.S. market within the close to future. This transfer signifies Levit’s ambition to make a world affect and supply its distinctive buying expertise to a wider viewers.
Acknowledgment of Alwayz’s Progressive Strategy
The revolutionary method of Alwayz and Levit has not gone unnoticed. BOND’s common accomplice, Daegwon Chae, praises Alwayz for breaking via in a mature and environment friendly market by specializing in person expertise, engagement, and worth. Disrupting the net buying panorama requires delivering a greater, quicker, and less expensive expertise, which Alwayz has achieved.
FAQ
What’s Levit?
Levit is a Seoul-based e-commerce firm that operates the buying app Alwayz. It goals to make the net buying expertise extra entertaining and reasonably priced by incorporating social options and gamification.
How does Alwayz differentiate itself from conventional e-commerce platforms?
Alwayz stands out by incorporating social options like video games and quick movies into the buying expertise. It gives rewards to customers who interact with these options and gives lower-priced merchandise via its direct consumer-to-manufacturer (C2M) mannequin.
How does Alwayz guarantee the standard of its low-priced merchandise?
Alwayz makes use of advice algorithms to evaluate the standard of things on its platform. Solely after an merchandise has confirmed its high quality will it’s broadly uncovered to customers. This method helps preserve the general high quality of merchandise on Alwayz.
What are Levit’s development plans?
Levit goals to safe over 12 million registered customers, 5 million month-to-month energetic customers, and three million day by day energetic customers by the tip of 2023. The corporate additionally plans to broaden its platform to the U.S. market.
Who’re the founders of Levit?
Levit was based by Jaeyun Kang, Sangwoo Park, and Hyunjik Lee.
Conclusion
Levit, the operator of the Alwayz buying app, is reworking the net buying panorama with its distinctive method. By mixing social options and gamification, Alwayz gives an entertaining and fascinating expertise for customers whereas offering them with entry to a variety of merchandise. The platform’s give attention to affordability, high quality assurance, and discovery-based buying units it aside from conventional e-commerce platforms. With its current funding and plans for worldwide growth, Levit goals to place itself as a number one e-commerce firm in South Korea and seize a major share of the worldwide discovery buying market.
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