Korean telecom company SK-Telecom partnered with an e-commerce site called 11 Avenue to open a store where they can test a new mobile commerce retail concept. The store allows shoppers to see products in a retail environment and buy it by scanning the QR codes or NFC tags of the products with their phone. South Korea’s largest wireless carrier, demonstrates with this shop how retailers can successfully reinvigorate their physical spaces with mobile technologies.
The store offers around 200 products from cosmetics to motorbikes and will be changed each month. The catch for the consumer is a saving between 10% and 40% on standard retail prices. For the telecom company the profit is a double edged sword. They earn money by selling branch strange products and the consumer is getting hooked by a new way of shopping where they are using more data traffic on their mobile device. It is this way of approaching business that I have a lot of respect for.