E-commerce business has grown rapidly in the past five years, almost at an average rate of 40 % annually. Many small & medium business owners worldwide are selling their products through e-commerce platforms domestically and internationally. However, when it comes to cross-border selling, many individual and small sellers face problems with the logistics, marketing, storage, payments, etc.
Korean startup SpurSell has worked out a solution for an easy cross-border sales for all such sellers, especially for sales in the Asian market. SpurSell is a global e-commerce service platform that helps everyone easily start an e-commerce business and expand its business across borders.
How does SpurSell works?
SpurSell works through three main categories of participants.
- Sellers who want to run online commerce through SpurSell
- Sales channels that are the contact point between general consumers and sellers,
- Various service providers of essential services for online commerce such as logistics, CS, and marketing.
SpurSell’s most important customer is the seller. Therefore, securing sellers and the sustainable success of sellers is an important mission for the company. SpurSell supports online business success of overseas customers who want to enter the Korean market and domestic customers who want to expand the global market online.
The seller receives all the services necessary to operate global online commerce at once by registering products with SpurSell. In sales channels, product DB can be secured through SpurSell, and service providers belonging to the Service Provider Network can recruit customers to use their services through SpurSell. The company receives its revenue though a monthly fee and commission per transaction for its services that range between 0.5 to 2 percent.
From e-commerce seller to business enabler
The startup was founded in 2015 as LOLO, a vertical e-commerce platform for premium childcare products. Since then, LOLO has expanded its product category to the overall lifestyle, including fashion, beauty, and home appliances. However, as the number of products handled increases due to the expansion of the category and the country of origin of products diversified, the company focused on solving complex and fragmented operational problems rather than consumer marketing. The startup then pivoted to its current B2B e-commerce platform, SpurSell.
In October 2020, SpurSell started the initiative ‘The Go Global Korea platform,’ along with Shopify and Visa. Companies participating in this campaign can easily start and operate global online commerce through SpurSell and take advantage of Shopify and Visa’s global marketing and payment networks. SpurSell is a great platform for e-commerce retailers and sellers looking to enter the Asian Market and for Korean sellers to spread their business abroad.
Read more about Korean e-commerce startups,
- Korean e-commerce startup Coupang set to enter US market with IPO
- Korean startup IMEMINE CEO Iksoo Park about how the SizeMine app will help fashion e-commerce reduce returns cost
- Top 3 reasons for E-commerce startups to thrive in South Korea
- Korean fashion E-Commerce startup 29CM growing 150% per annum