Trends 2017: Korea

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Julie Kang

Julie Kang

Managing Partner, Serviceplan Korea

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Shift to Post Smartphone World

A new era “after Smartphone” arrives. Powered by soaring mobile traffics, AI (Machine Learning), VR / AR / Fictionless computing are hot icons to catch up with. And autonomous vehicles, for sure!

All this techs are continuously connecting us from this to that, here to there. On December 14th 2016, Wynn hotel announced plans to equip all 4,748 hotel rooms at Wynn Las Vegas with Amazon Echo. And on the same day, Amazon succeeded their first drone delivery service with Prime Air in UK. And what else? Uber started its first autonomous vehicle operation in San Francisco whereas Silicon Valley start-up, Lucid Motors launched the luxury electric car, Lucid Air which goes 400 miles on a single charge. All these are happening day to day and we even do not have enough time to get surprised. Let’s not forget: For all that, Future is made for us, “human-beings”. Let’s enjoy this new techs and ride the comfort and convenience to the fullest.

Mobile All

In 2017, mobile is expected to stand even more at the centre of all communication in Korea,  which ultimately leads more to mobile commerce. With 91 % smart phone penetration rate (No. 1 globally as of March 2016) & the fastest internet speed, South Korean will likely consume more contents at mobile. (even TV contents are consumed at mobile)

In line with this trend, contents (including advertising) will be developed & formatted in mobile platform. And mobile advertising  will be further developed to reach right audience with more sophisticated performance measurement tools.

Tech-driven Contents

As the novelty factor of VR/AR technology cools down, creating more relevant contents will become essential. With Naver and Kakao – two of the biggest online industry giants in Korea – beginning to invest heavily in AR/VR content development, Korean consumers are sure to be presented with various, yet more relevant, contents to choose from.

Along with VR/AR, other technologies – such as AI and Livecast – are being implemented in various marketing platforms. This suggests that now more than ever, technological developments are pushing the evolution of marketing tools – something that the content creators must keep pace with.

O2O Almighty

The O2O (online-to-offline) business, which has emerged as an icon of Korean start-up since 2014, is steadily growing. In fact, the O2O service barriers are relatively low. Now, however, diffusion and differentiation are more emphasized in O2O biz in order to settle in the market.

Large platform companies such as Kakao are expanding the scale of service diffusion by acquiring related O2O services or providing various services within one type of app by combining the power of O2O service in the related area for win-win.

Personalized O2O services are on the trend such as ”Travel Accommodation” service reflecting the characteristic of single target who enjoys his / her life, “Personalized Beauty” service reflecting the consumer tent that pursues wellness and “Services aiming at 3049 target” that has emerged as the premiere of the health consumption market.

This O2O service, which makes consumers’ lives convenient and enriched, is expected to grow further thanks to mobile acceleration and easy mobile payment service.

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