– Survey of popular sellers last year… Repurchase rate of 4 or more times also reached the highest at 48.3%
– Grip’s ‘fandom’ culture that goes beyond regulars, patented game features, etc. are driving repeat purchase rates
Live commerce shopping app Grip announced on the 27th that the average repeat purchase rate of popular sellers exceeded 50%.
As of February of this year, the average 'repurchase rate', which is the percentage of customers who purchased a product more than twice in the past year, was 50.4% according to a survey of popular sellers. This means that about half of the customers are regulars rather than one-time buyers.
The seller with the highest repurchase rate was 'Witch's Closet', recording a whopping 69.9%. 'SABABA Sababa' followed with 63.6% and 'Asha ASHA' with 62.6%. In particular, 'Witch's Closet's repurchase rate of 4 or more times reached 48.3%. 'SABABA Sababa's repurchase rate of 4 or more times was 35.8% and 'Asha ASHA's repurchase rate of 39%. This figure is far higher than the average repurchase rate of 25.9% for popular sellers, and can be interpreted as a solid base of loyal customers with strong purchasing power.
The analysis is that the reason for such a high repurchase rate is Grip’s unique fandom culture. Grip has a culture where customers who are attracted to the seller consistently consume live broadcasts as content, build a bond with the seller, and form a fandom beyond being simple regulars. Based on deep trust in the seller, continuous purchases are made, which increases the repurchase rate.
Grip’s patented game features, such as first-come-first-served sales, raffles, auctions, dice, and initial quizzes that are conducted on the spot during live broadcasts, are also evaluated as adding fun to shopping and driving up the repurchase rate. In fact, all of the popular sellers who were the subjects of this survey are using the game features, and the top three sellers with the highest repurchase rate are also found to actively utilize the game features in every broadcast.
Grip Company CEO Kim Hanna said, “The fact that we showed such a high repurchase rate even in difficult economic times with depressed consumer sentiment is proof of the high customer satisfaction with the Grip app and sellers’ products.” She added, “As our role is to connect small business sellers with customers who want to purchase good products at reasonable prices, we will do our best to provide a service that satisfies both sellers and customers.”
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