Henry Chun, president of the US e-commerce giant eBay Japan, said in an interview with the Japanese Kyodo News on July 10 that he plans to officially return to the Japanese market. He said that he will achieve the goal of a total circulation of 500 billion yen (about 30 billion yuan) in 2022 based on the e-commerce website “Qoo10”, which was acquired this year. “Strive to surpass Yahoo’s e-commerce website to leap into the industry in the future. Third place”.
Qoo10 operates in the “market” mode of an external company, with 10 million members in Japan. Qoo10 is one of the leading companies in the e-commerce industry, with the advantage of having many young female customers. Henry Chun said that he will accept financial support from the US headquarters, and “strive to expand the scale of business and actively invest in advertising and technology”.
eBay has acquired an e-commerce website giant in South Korea to promote the opening of stores and cross-border e-commerce businesses between Japanese and Korean SMEs. The intention is that Qoo10's e-commerce website “strengthens the promotion of Korean products favored by young women”, creating its own characteristics through rich variety types, and attracting more companies by opening store discounts.
As an option, consider also converting the brand to eBay based on customer response. Henry Chun said that due to the lack of opportunities, "will not separate the points service, and strive to cooperate with the outside".
The US eBay is the pioneer of Internet auctions and entered the Japanese market in 1999. However, it lost in the competition with Yahoo and retired from the Japanese market in 2002. Recently eBay focused on cross-border e-commerce business.
Henry Chun analyzed the reason for the previous failure and said that “just bring the American approach to Japan, and there is no real customer for Japan”, he said that he will strive to thoroughly integrate local characteristics.