First-half sales and transaction volume both increased 20% year-over-year… Balanced growth across all business divisions.
Able Pay, the leader in payment market share, sees a sevenfold increase in payment volume.
Able and 4910 also show clear growth in app usage indicators, ranking first in each vertical and second in men's fashion.
Able Corporation (CEO Kang Seok-hoon) announced on the 30th that it achieved record-breaking earnings in the first half of this year, including a surplus in operating profit. The rapid growth of "Able Pay" and the balanced performance gains across all business divisions drove both profitability and top-line growth.
Able Corporation's sales and transaction volume in the first half of the year increased by approximately 20% year-on-year, and operating profit was in the black. Key services such as Able, 4910, and Amood all showed upward trends across the board, achieving first-half sales and transaction volumes both at record highs since the company's founding.
According to Statistics Korea, domestic online shopping transactions in May reached 22.487 trillion won, a 0.9% increase year-on-year. While the economic downturn and rising prices have somewhat slowed online market growth, Able Corporation's transaction volume increased by 40% during the same period, significantly exceeding the industry average. A clear positioning as a value-for-money style commerce platform and large-scale promotions across platforms effectively capitalized on early summer shopping demand, driving this upward trend.
Ably Pay, its own easy payment service that achieved the number one payment method market share in less than a year since its launch, has achieved remarkable growth in payment volume. In the second quarter of this year (April-June), Ably Pay's payment volume increased approximately 4.7 times compared to the third quarter of last year (July-September), when the service officially launched. A convenient payment system optimized for recurring payments has been the primary driver of this growth, surpassing existing methods such as credit cards and mobile payments. Concerns about a decline in payment volume, raised by some based on "credit card payment estimates," have been completely dispelled, thanks to Ably Pay's rapid growth.
Both Able and the 4910 platform also showed significant growth in app usage metrics. According to WiseApp Retail, an app and retail analytics service, 4910, launched in the second half of 2023, recorded an average monthly active user (MAU) of 1.21 million in the first half, a 7.5-fold increase year-on-year. Based on this explosive growth, 4910 is rapidly solidifying its position as the "Top 2 Men's Fashion Platform." During the same period, Able's average MAU increased by 16% to 9.45 million, demonstrating its high app loyalty by maintaining its top spot in vertical commerce for five consecutive years since 2021.
Building on its solid domestic growth, the company is accelerating its global expansion. Japanese shopping app "amood" achieved a 50% year-on-year increase in transaction volume in the first half of the year. Starting with Japan, Abley plans to actively foster the overseas distribution of Korean products by expanding its role as a "global expansion base" for small and medium-sized K-sellers. The company is also accelerating the advancement of its K-commerce infrastructure by recently expanding its dedicated global fulfillment center in Seongsu.
Able Corporation CEO Kang Seok-hoon said, “Our focus on the essence of e-commerce, which is the ‘technology’ that connects various ‘sellers and products’ with users, is our competitiveness and the reason why we have been chosen by customers in a rapidly changing consumer environment.” He added, “We will continue to actively support sellers so that they can demonstrate their capabilities in the domestic women’s and men’s e-commerce markets as well as in various global countries based on the ‘mutual benefit’ principle that the growth of sellers is the growth of the platform.”
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