Leave the development of your online and offline sales channels Wadiz

재고없는 제품 창업으로 주목받았던 크라우드펀딩의 대표주자 와디즈가 창업 10년을 넘기면서 누적 거래액 1조원을 돌파했다. 단순 펀딩을 넘어 제품 유통과 직접투자까지 진행하며 스타트업 생태계의 선순환을 주도하고 있는 와디즈의 행보를 조망하며 국내 크라우드펀딩 산업이 일궈온 성과와 의미, 향후 성장 가능성까지 짚어본다. <편집자 주>

Wadizpioneered the domestic crowdfunding market, has established itself as the “go-to destination for startups” for small business owners because it actively pursued new sales channels. The key factors behind Wadizsuccess as a go-to destinationWadiz“Space Wadiz,” which handles offline sales channels, WadizWadizhandles online sales channels.

Unlike other crowdfunding platforms that merely act as intermediaries for funding, Wadizprovides both online and offline sales channels that continue to connect consumers with products even after the funding campaign ends. As a result, small business owners can generate stable revenue even after the campaign, and consumers can more easily access products that have successfully secured funding.

The ‘Shop Cider’ pop-up store held WadizSpace Wadiz

Expanding into offline channels Wadiz‘Space Wadiz’… Evolving from a crowdfunding experience shop to a fan shop

According to industry sources on the 30th, Wadizopened “Space Wadiz” in Seongsu-dong, Seoul, in 2020. Space Wadizis an offline crowdfunding experience shop where makers and supporters can interact directly through product and service demonstrations and maker classes. The company explained that this initiative overcomes the limitations of conveying a product’s potential and story fully through online channels alone and satisfies the demand for “hands-on experience” with crowdfunding products prior to their official launch.

It has firmly established itself as a leading multi-cultural hub in Seongsu-dong, Seoul. It has become a popular destination, attracting an average of 25,000 visitors per month, with cumulative visitor numbers exceeding 300,000 to date. The number of makers who have set up shop there has also surpassed 6,000. Through this space, makers can meet consumers in person and receive direct feedback. Consumers, too, can now visit Wadizto discover and purchase unique products.

Now, three years after its opening, Wadizhas evolved beyond a mere crowdfunding experience shop to become a “fan-centric shop” recognized by fans. There has been a rise in curated exhibitions that bring online fan communities together in person, centered around fandom trends. The scope of collaboration has expanded to include not only Wadiz but also brands that can create synergy with them, as well as brands looking to showcase new brand experiences through pop-ups.

BST Pop-Up Store Celebrating Jimin's Birthday

Notable examples include the “MindBridge x Child Drive-In” collaboration, the PSTR pop-up, and the special “Haribo” crowdfunding event held last June, while July saw the world’s first ShopCider pop-up store open its doors. In particular, the ShopCider pop-up store attracted over 40,000 visitors in just two weeks, demonstrating the true power Wadizthe Wadizspace.

Last October, to celebrate BTS member Jimin’s birthday, the Korean fanbase “ALLFORJIMIN_KOR” rented out the entire Wadizspace—including the outdoor area—to host “JIMIN DAY POP-UP,” drawing a massive crowd of global fans. Additionally, TWICE, marking their 8th debut anniversary, opened the pop-up store “TWICE RECORDS” Wadiz, showcasing memories shared with fans, which sent Seongsu-dong into a frenzy.

Shin Hye-sung, CEO Wadiz, emphasized, “Space Wadizis expanding into a channel that offers a wide range of brand experiences, from product-centric experiences to content created by creators,” adding, “Under the slogan ‘All Things New,’ we will present diverse content so that anyone can discover their tastes and inspiration and take on new challenges.”

Meanwhile, Wadizexpansion into offline channels extends beyond its physical store, Space Wadiz. Wadizhas partnered with LG Uplus to sell popular crowdfunded products at LG Uplus’s “The Gap Between the Ordinary and the Extraordinary” and “The Gap in Daily Life” retail stores. 

Online sales are supported through the "Wadiz "... Transaction volume has surged significantly thanks to events such as "Blackbird"

While WadizSpace handles offline sales channels, the "Wadiz " is responsible for online sales. Launched Wadizin September 2021, the Wadiz Store is a platform for the ongoing sale of successfully funded products. Its purpose is to provide makers who started Wadizwith opportunities to continue selling their products and services and to grow their businesses.

Products and services that received high customer ratings among projects that successfully raised funds on Wadiz will be listed in the store. Makers can expand their sales channels by listing their products in the store following a successful funding campaign. Users can receive products verified by Wadiz members via “wa Delivery” the very next day after placing an order. This has laid the groundwork for customers—who previously perceived crowdfunding as requiring a long wait—to begin actively using Wadiz.

In September of this year, we also launched “Brand of the Day,” a program designed to directly support sales growth and branding for top-performing maker products. Wadizselects high-quality maker products with high supporter ratings, satisfaction scores, and repurchase rates, and actively supports them in achieving full sell-out. When a brand joins “Brand of the Day,” Wadiz provides full-service fulfillment—including order and shipping management and customer service—through “Wa Delivery” (same-day shipping for orders placed before 4 PM). Additionally, Wadiz supports the creation of branding content such as maker brand pages, brand-exclusive coupons, and quick menus.

In fact, products selected as “Brand of the Day” have been selling out one after another. Products from the beauty brand Dimap sold out in a mere five minutes, while the character lifestyle brand Dancomma saw its sales grow by a staggering 1,900% compared to the previous month. The vegan beauty brand Arencia achieved sales that exceeded the previous month’s total during the three-day “Brand of the Day” campaign.

The "Blackbird" event, held from the 20th to the 24th, was also well-received. “Blackbird” is Wadiz“Black Friday” event, during which random coupons worth up to 100,000 won—usable for both crowdfunding campaigns and the Wadiz Store—were issued daily for five days. Crowdfunding projects that typically offer early bird benefits received an additional Blackbird discount of up to 75%, while products in the Wadiz Store were available at prices discounted by up to 50%.

The results were a resounding success. Payment volume increased by 47% compared to the previous year, and the average cumulative transaction amount for projects rose by a staggering 205%. The company attributes this remarkable performance to a significant expansion in the number of participating brands and products, as well as an increase in new subscribers.

Park Young-min, Director of the Wadiz Store Business Team, emphasized, “Today’s Brand is a solution that allows brands to showcase their entire product lineup, thereby generating not only sales but also branding benefits.” He added, “In the medium to long term, we plan to continue featuring a variety of products from successful creators through Today’s Brand so that brands can focus on developing new products.”

(Original text: [Startup Hub Wadiz] “Space Wadiz + Wadiz Store”... “Leave it Wadizto open upWadizsales channels”)