Product of the Future, 3Q18
The product of the future is virtual
We envisage brands such as Chanel, SuperDry and others will soon want to exploit the $m market for emojis in order to reach more customer, use its loyal customers as a vehicle to spread the brand to friends and family.
Kakao Talk is the leading chat application in South Korea and the Kakao Corporation group has on average 50 million monthly active users. It should be noted that South Korea has a population of 51 million!
Kakao users can now organise haircuts, order a taxi, chat with friends & family, banking and everything in between. The company's diversification has led it to become a $2bn business.
Its chat application allow users to incorporate a number of free emojis, but also sell sets of emojis (emoticons) for $2 or $3. In the last 12 months we estimate the company has sold over 14 million sets.
Brands should take advantage of the trend for customers to buy emojis as a way to express who they are and how they feel. For better known brands we think there is an opportunity to charge a much higher price as well, capitalising on an emerging opportunity.
Download this free report to get insights on how Kakao Corporation are selling emojis.