Australasian home shopping channel Yes Shop has signed a new agreement, allowing Australian brands access to nearly 10 million South Korean consumers.
The channel has signed a reciprocal agreement to list products on Hyundai's HMall online shopping platform.
Hyundai Department Store Group is one of the biggest retailers in South Korea, with the online platform providing access to nearly 10 million consumers.
Yes Shop director Paul Ding said the agreement allows brands to enter the market without incurring significant up front marketing and inventory stocking costs.
“Small and medium size businesses that may not ordinarily have the opportunity to export to a major shopping conglomerate like Hyundai and the Korean market can now sell their products safely and cost-effectively.”
HMall carries over two million lines of product and has relationships with more than 3,500 suppliers.
Ding said South Korea has developed home shopping market, with online retail recently overtaking traditional ‘bricks and mortar’ department stores in sales.
"Korean companies have developed a sophisticated and fully integrated shopping experience.
"They have successfully integrated e-commerce with television and internet marketing to make home shopping a part of everyday life.
"Korea is now setting the global benchmark for innovative retailing strategies that minimise sales and marketing costs, while maximising retail opportunities for brands."