Japanese Startup Sumally Launches M-commerce Service.
A social platform where users will find recommendation by recording what they already have and what they want,named Sumally. This startup has also recently begun a C2C e-commerce service called Sumally Marketplace. At the moment, it is only available for download on the iPhone.
Users can list their item as available for sale on the application platform either by selecting an item they may already have registered onto the site, or by registering new items through a bookmarklet and uploading its picture through the application.
There are no initial fee and monthly fee for the vendor, and at the current moment no sales commission as well. People who purchase items need to only dish out for the price displayed on the application, with no transaction fees.
Payments are transacted through Sumally, and Kensuke Yamamoto and CEO of Sumally commented that the company plants to implement a 10% commission sometime in the future.
The competition in C2C mobile commerce is still going strong in Japan. There are established Frill and Mecari in the startup scene, and Yahoo Japan on the corporate side. There are other C2C platforms available as well, including Locari, Listore, Stulio and Mom’s Market. It’s been estimated that the C2C mobile platform in Japan transact nearly $200 million a month. All the players are striving to either increase their current share or find a new market.
With this extremely competitive industry, How will Sumally compete? Sumally has show to contain a lot of potential growth, due to its solid structure for connecting the users and items based on their accumulated data.
Sumally first launched September during 2011, and since then it has begun to develop a network where items are connected to on another. According to Yamamoto, the data base currently contains over 1.35 million items, created by almost 400,000 registered users. Furthermore, a huge amount of metadata has been included within each item, totaling up to nearly 50 million data points. All that metadata can become really useful for users to locate what they wish for.