Herald Economy | Woori Card ‘Card of Standards’ Enrollment Tops 2 Million
Woori Card announced on the 13th that its flagship product 'Card of Standards' has sold 2 million units in less than 9 months since launch, continuing its box-office success. The design incorporating a work by Korean painter Kim Hyun Jung received a patent last October, and Woori Card is running a customer appreciation event through the 25th.
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A Mega-Hit in Under 9 Months
Customer-Centered Mindset Reflected in the Product
Usage Rate and Spending Also Up 10%
Premium and Mileage-Type Cards to Follow
[Herald Economy = Reporter Do Hyun-jung] Woori Bank's ambitiously launched flagship product 'Card of Standards' has sold 2 million units in less than 9 months since its release, continuing its box-office momentum.
According to Woori Card (CEO Jung Won-jae) on the 13th, 'Card of Standards POINT,' launched last April, recently reached 2 million enrollments. It surpassed 1 million within 5 months of launch, and the issuance pace only accelerated afterward. This is a pace hard to find precedent for among general-purpose cards, and the fastest since Woori Card's founding.
The success of Card of Standards is attributed to thoroughly reflecting the 'customer-centered mindset' that CEO Jung Won-jae has always emphasized, across every stage of product planning, service design, and design itself. The analysis is that a shift in thinking -- from making a product that has to be sold to making a product that sells itself -- paid off.
Through big data analysis, it packed in industry-leading point and discount benefits optimized for changing customer needs and spending patterns, and adopted a work by Korean painter Kim Hyun Jung to embroider a design onto the plate that anyone would want to own.
A 'ㄱ'-shaped notch is placed in the upper right of the card plate to enhance both aesthetics and usability, and differently colored sections lend a distinctive identity through a unique visual sense resembling vertical stripes. The card name is placed vertically, giving an impression reminiscent of a Korean painting. This also led to obtaining a design patent last October.
Efforts to engage customers in new ways -- such as holding exhibitions by artist Kim Hyun Jung, advertisements using "artvertising" techniques that incorporate her artwork, and events involving cookies and craft beer -- are also credited with raising the brand value of 'Card of Standards.'
'Card of Standards' shows a usage rate and per-person spending amount about 10% higher than existing flagship general-purpose products, contributing to expanded market share as well.
Woori Card also plans to release premium and mileage-type cards, and expects the strong sales momentum of 'Card of Standards' to continue.
A Woori Card official said, "Thanks to the affection customers have shown 'Card of Standards' and the hard work of employees, including those at Woori Bank's sales sites, we were able to achieve meaningful results despite difficult market conditions," adding, "We will continue to make it a card that customers want to have and want to use, as a good product that is essential to everyday life."
Meanwhile, Woori Card is running a customer appreciation event through the 25th of this month to mark the 2-million-enrollment milestone for 'Card of Standards.' Customers who spend 50,000 won or more on 'Card of Standards' series cards during this period are automatically entered into a drawing for prizes including an LG Styler, LG Pra.L masks, AirPods, and a Starbucks diary set with two free beverage coupons, to be given to a total of 1,600 winners.
Reporter Do Hyun-jung kate01@heraldcorp.com