Newsway | Woori Card’s ‘Card Basics’ Series Surpasses 3 Million Accounts in Under a Year
Newsway reported that Woori Card's 'Card Basics' series surpassed 3 million accounts in under a year, the fastest record for a single product series in the industry. It attributed the success to CEO Jeong Won-jae's 'customer-centered mindset' and 'attention to detail' management philosophy and the design using Korean painter Kim Hyun Jung's artwork, and reported the new 'Card Basics WOWRI' launching to mark the milestone.
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Woori Card's 'Card Basics' series surpassed 3 million accounts in under a year since launch. This is the fastest record in the industry for a single product series.
Woori Card announced on the 29th that its flagship 'Card Basics' series had surpassed 3 million accounts in under a year since launch. 'Card Basics POINT,' first launched in April of last year, surpassed 2 million accounts in 8 months, and then surpassed 3 million accounts in under a year.
The company explains that the success of 'Card Basics' is because CEO Jeong Won-jae's consistently emphasized management principles of a 'customer-centered mindset' and 'attention to detail' were reflected in the product and brand.
First, big data analysis and consumer research were used to remove the inconveniences customers face in their card life. Rather than competing on the number of services offered, it came with simple but solid discount and point-accumulation benefits as standard, and reflecting changing payment trends, additional benefits were granted when using simple payment services, enhancing convenience and making rewards easier to feel.
Care was also taken with the design. It caught attention with a sensuous design embroidered with Korean beauty, drawing on the works of Korean painter Kim Hyun Jung.
Marketing and branding also saw fresh attempts unlike before, through a design collaboration exhibition with artist Kim Hyun Jung and advertising made using the 'Artvertising' technique with the artist's work.
At the end of last year, the web drama 'Work&Love Balance' was released, and it has since gone viral, recording more than 3.7 million cumulative views and helping to raise the value of the 'Card Basics' brand.
This March, the lineup was completed across life stages by adding the Card Basics Premium product for customers in their 40s and above to the existing check card lineup of Kream (teens), Cookie (20s), and Sosam (30s–40s). By placing the Card Basics series products, each offering industry-leading points and discount benefits for their respective age groups, together in a three-dimensional rather than a single-track lineup, customer choice was broadened.
Woori Card will launch a new product, 'Card Basics WOWRI,' on the 1st of next month to mark the first anniversary of Card Basics' launch and its 3-million-account milestone. As a single product series that achieved 3 million accounts in the fastest time in the industry, an astonishing feat, the product was named 'Card Basics WOWRI' by adding the words 'wow' and 'we' (uri).
The product's main benefits are the same as the existing 'Card Basics POINT,' which specializes in point accumulation. It offers 0.8% accumulation on spending at all merchants, one of the industry's highest rates, and 5.0%–1.0% accumulation at special categories customers frequently use. Compared to previously launched products, it strengthens accumulation benefits for duty-free purchases.
In addition, for the month of April, all Woori Card users will receive one sweepstakes entry for every 100,000 won spent, and through a drawing, prizes will be given to a total of 300 people, including a 3-million-won travel voucher (1 winner), Samsung foldable phones (3 winners), BALMUDA The Pure air purifiers (15 winners), and 10,000 Woori Card points (281 winners).
A Woori Card representative said, "We will continue to think about how to provide customized services that reflect customer needs, while striving for sophisticated branding with a youthful sensibility."