Wadiz Strengthens Global 'Pre-order' Service… Opens Wide Opportunities for Overseas Distributors to Enter Domestic Market

Wadiz Strengthens Global 'Pre-order' Service… Opens Wide Opportunities for Overseas Distributors to Enter Domestic Market

- 'Global Funding' Review Policy Undergoes Major Changes… If you have legitimate distribution rights, opening is possible even without 'First in Korea' status
- Without inventory burden, superior products worldwide can now be introduced domestically through pre-order method
- Major domestic companies like Woongjin Food and E-Mart actively utilize it from Global Sourcing Teams

Going forward, opportunities will be widely open for various overseas distributors to enter the domestic market through funding.

Wadiz, a life design funding platform, announced on the 4th that it will significantly revise the review policy for 'Global Funding' to make it easier to encounter superior products distributed worldwide in the domestic market, and strengthen pre-order services for overseas distributed products.

Wadiz's 'Global Funding' category refers to funding projects aimed at raising funds for the purpose of officially distributing products that were previously distributed overseas in the domestic market. Since last October, e-commerce law has been applied, unlike general funding categories. Previously, opening was possible only when the conditions of 'first distribution in Korea' and 'exclusive distribution in Korea' were met, but from now on, opening will be possible without exclusive distribution rights if one has legitimate distribution rights.

With this revision, the 'Global Funding' category will make it easy to introduce competitive products distributed worldwide domestically through pre-order method. After opening a global sourcing product as a funding project and achieving the target amount, payment and shipping occur. This is a way for global distributors to first grasp the demand for superior products and services and conduct business domestically without inventory burden.

This method is also actively used by global sourcing teams of large and mid-sized enterprises. Italian premium dessert 'Omama Cake,' discovered through global sourcing by Woongjin Food's Product Strategy Team, raised over 10 million won in funding from 500 supporters in January. E-Mart's Home Appliance Sourcing Team also introduced the 'ANC Headphones' brand REMAX from Hong Kong in 2020 exclusively for the domestic market, raising over 100 million won in funding from 1,574 supporters and attracting popularity.

A Wadiz official said, "This revision of the global funding review policy will be an opportunity for global distributors seeking to enter the domestic market quickly, as well as large and small businesses and individual business owners sourcing excellent overseas products to conduct market demand analysis and sales channel development in a one-stop manner," and "We expect it will be utilized in various distribution methods such as joint purchases and luxury pre-orders, which are growing in the market recently."

The new review policy has been in effect since March 17, and Wadiz plans to establish a new Global Sales Team and hold briefing sessions for overseas distributors to activate the global funding service.