An Even Hotter Spot in Trendy Seongsu-dong

The first floor of Space Wadiz has been renovated and transformed into a curated boutique… selling products that have succeeded in crowdfunding and more

 “I heard it gets so crowded on weekends that you have to wait in line just to get in, so I came on a weekday.”

Life design funding platform Wadizopened its offline store,Wadiz Flagship Store Seongsu (Wadiz Seongsu),” Wadiz“Space Wadiz” WadizSeongsu-dong, Seoul, on the 3rd of last month. Although it has been open for less than a month, it has emerged as a “hot spot” in Seongsu-dong—a neighborhood already popular among young people—and is so popular that it is packed with people every weekend.

WadizSpace Wadizlocated in Seongsu-dong, Seoul [Photo by Kim Tae-heon]

When I visited Wadiz Seongsu on the 29th of last month, the place was bustling with customers browsing and purchasing successful crowdfunding products, even though it was a weekday. In particular, since customers who spend a certain amount on products here can enjoy free coffee and drinks at the café on the second floor, it attracts a steady stream of Gen Z and Millennials looking for a “budget-friendly date.”

Wadiz Seongsu is a curated lifestyle store that showcases successful crowdfunding products and popular brands from the Wadiz Store in a physical space, featuring a café, exhibition area, and rooftop. Here, visitors can experience and purchase over 350 high-quality products across categories such as fashion, beauty, tech, food, and home living.

While it is common for offline stores to charge higher prices than online retailers, Wadiz Seongsu has set the same prices for both online and offline purchases to reduce the burden on consumers. Additionally, members ofWadiz ” receive a 10% discount and free shipping on purchases of 100,000 won or more.

Wadiz"Space Wadiz" in Seongsu-dong, Seoul, you can purchase products that have successfully completed their crowdfunding campaigns. [Photo by Kim Tae-heon]

This store carries only the highest-rated, proven products that have been recognized by numerous supporters, including Arencia, 210 Company, Dan Komma, and Normalist. Here, you can also enjoy a unique experience—such as examining the materials, comfort, and fit of products—that is difficult to find online.

As Wadiz, which had previously focused on online operations, expanded its offline offerings, its revenue naturally increased and it returned to profitability.

Starting in the second half of 2021, Wadizbegan selling only successfully funded products on its online sales platform, and it is reported that sales from Wadiz accounted for 13% of Wadiz total revenue last year. Wadiz, which launched in 2012, posted its first profit in November of last year. Wadiz Seongsu is also playing a role in enhancing consumers’ offline experiences.

A café located on the second floor of "Space Wadizin Seongsu-dong, Seoul. [Photo by Kim Tae-heon]

Wadiztransaction volume last year reached 250 billion won, an increase of more than 16% from the previous year, and its revenue reportedly rose from the 34 billion won range to the 40 billion won range during the same period.

Lee Sang-eun, Director of the Wadiz Space Team, stated, “We have redesigned the space so that visitors can experience the joy that permeates everyday life both online and offline Wadiz.” She added, “Moving forward, we will continue to enhance our content by hosting various pop-up stores and transforming this space into an open-concept experience area that offers visitors ways to improve their daily lives.”

(Original: “An Even Hotter Spot in Trendy Seongsu-dong” Wadiz Flagship Store [On-Site])