[Exclusive] Emart files trademark application for 'META Emart' to do metaverse business

By Jeon Seoin

Emart submitted an application recently to register a trademark for metaverse business. Once regarded as a late mover in metaverse business among Shinsegae Group’s affiliates, the discount store chain seems to speed up pushing forward such business.

According to Emart, Wednesday, an application was filed for registration of its metaverse-related trademark, “META Emart.” However, the company said that the application is only intended to preoccupy the trademark, adding that it has yet to have any specific plan for its metaverse business.

Since Shinsegae Group chose metaverse as a key business for its digital transformation, the conglomerate has accelerated its efforts to build “Shinsegae Universe.” Among the group’s affiliates, Shinsegae Department Store has made most aggressive efforts.

The department store chain has provided various services in metaverse, including lectures at its culture centers, in collaboration with a metaverse platform operator, ZEP. It also created a non-fungible token (NFT) character named “Puuvilla” and signed a memorandum of understanding with Hancom with the aim of developing its own metaverse platform.

Shinsegae Property opened “Starfield Zepeto Branch” and built the shopping mall chain’s landmarks, such as Aquafield and Media Tower, inside the metaverse mall. Emart24 also opened a convenience store inside the metaverse shopping mall to create synergies by promoting its new products.

SSG.COM launched “MetaverSSG Open Run” service lately. The e-commerce firm’s metaverse service has gained popularity among users as it enables them to play games when buying Emart’s groceries and Shinsegae Department Store’s luxury items at bargain prices.

Shinsegae Group has focused more on attracting new customers through its metaverse services, rather than earning short-term profits.

SSG.COM’s metaverse service has attracted 200,000 customers, leading 70 percent of them to make purchases. Shinsegae Department Store sold 10,000 units of Puuvilla within a second after it launched the NFT character. Puuvilla also gained popularity in an offline event, attracting a huge number of fans.

Shinsegae Group is expected to make more efforts to integrate its online and offline services, given that Shinsegae Group Vice Chairman Chung Yong-jin shifted the group’s focus to online, so as to make it “an online company which is also good at offline services.”

“An advantage of online services is that they need lower maintenance costs than offline services, once a company finishes building an online infrastructure,” a retail industry official said. “If Shinsegae Group’s metaverse business takes roots successfully, the company will be able to enhance efficiency with lower costs.”

*This was translated from the article originally written in Korean. For more accurate information, please refer to the original version by using the link below. In case of discrepancies between the two versions, the Korean version shall prevail.

https://biz.sbs.co.kr/article/20000081285

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