Konnect Ecosystem Series 03
Hello everyone!
Global Membership Konnect is the HUB that links the worlds of Web 2.0 and Web 3.0.
In the second part, we briefly examined the reasons behind Korea’s emergence as a prominent duty-free market and its primary customers, who are resellers.
Resellers distribute duty-free products acquired in Korea within their respective countries, frequently acting as WangHong utilizing their own sales platforms. Resellers, who travel often, utilize a range of services while they are staying, adding an additional level to the business infrastructure. In this series, we will assess the new businesses associated with these resellers and discuss Konnect’s strategy for integrating them into Web3.
WangHong, the reseller, and the inbound travel industry
The majority of resellers are female individuals in their twenties and thirties, many of whom are social media influencers, and they operate their own sales channels. As influential individuals in China, WangHongs either purchase products directly or secure them through agencies. They sell at a high volume, frequently generating sales of KRW 10 billion per broadcast, due to China’s primarily domestic consumer base. They visit South Korea approximately twice a month to engage in duty-free shopping. They cover the costs of their transportation and accommodation for a duration of three to four days for shopping purposes. While in Korea, they avail themselves of various services such as beauty treatments, medical care, and food and beverage options, ultimately contributing to the emergence of a new market for duty-free inbound travel. This market also offers them the necessary convenience services to facilitate their shopping experience.
Konnect has experienced growth within the inbound travel industry for resellers, as well as in duty-free distribution. We have established partnerships with a variety of Korean brands in the sectors of aviation, lodging, beauty, and medical, among others, to deliver high-quality services and advantages to resellers, aiming to appeal to individuals with significant purchasing capacity. We intend to merge the infrastructure of the inbound travel business with KCT in order to develop new service.
Travel-related brands provide a range of promotional incentives in order to attract international customers, who may develop into loyal patrons. Resellers are considered as VIP customers, which makes them appealing to brands seeking to reach international clientele. Operating as an intermediary, Konnect facilitates connections between resellers and customers while fostering relationships with a diverse array of brands. Currently, the company has established over 100 alliances within the duty-free retail and travel-related sectors.
The primary business model of Konnect is global membership, which links the infrastructure of Web2 with that of Web3 by leveraging the benefits of the diverse partners within the Konnect Alliance alongside Web3.
In conclusion
Today we covered resellers and the inbound travel industry.
Next, we will take a look at the membership models along with Konnect’s inbound travel infrastructure in the upcoming installment.
Thank you.
