Under our corporate mission, “Creating change”, Enigmo is aiming to create unprecedented services which network talents of individuals through the internet.
ENIGMO’s core business, BUYMA.com, is the largest social fashion e-commerce website in Japan. BUYMA.com is uniquely positioned to offer a broad range of retail products and the latest fashion clothing items from all over the world.
BUYMA.com provides a “market place” for two types of entities: “Personal Shoppers” (“Exhibitor”) and “Members”. “Personal Shoppers”, are individuals throughout the world providing items for sale to “Members”. “Members”, or online shoppers, create a user ID and password, enabling them to shop and buy items from all over the world. “Personal Shoppers” introduce the latest overseas fashion items through BUYMA.com website, and once they receive the purchase order from “Members”, they purchase and ship the items directly to “Members”. This structure enables “Personal Shoppers” to avoid taking inventory risk.
ENIGMO stands in the middle of the “Personal Shoppers” and “Members”, providing escrow services to ensure a safe and reliable transaction experience.
ENIGMO’s revenue stream is realized by collecting a fee on both sides of the transaction. Approximately 5% (plus optional service fee) from “Members”, as a commission, and 5 to 7% (depends on the status) form “Personal Shopper” as closing fee, to be charged for each transaction.
“BUYMA.com” was launched in February 2005, mainly focused on clothing, cosmetics and accessories. Making “Personal Shoppers” throughout the world providing items of limited or unreleased, sold out in Japan into strength, the service is continuously expanding. Currently, more than 135,000 “Personal Shoppers” from 156 countries and more than 6,695,861 “Members” are registered.
Characteristics of BUYMA.com
- 1.Broad range of products
- As “Personal Shoppers” are not required to take inventory, they can introduce broad range of trendy products without taking risks. The exhibited products from 135,000 different eyes of “Personal Shoppers” enables for BUYMA.com to cover diversified consumer’s needs. Further, “Personal Shoppers” can easily catch up the changes of fashion trends, which results BUYMA.com to exhibit latest fashion items in all seasons.
- 2.Efficiency of Inventory
- Consumers have to give up purchasing once the product is out of stock.
Since “Personal Shoppers” of BUYMA.com locate in more than 156 countries, the website virtually aggregates the inventories spread all over the world and enlarge the opportunity to purchase “Members” longing for.
- 3.Adequateness of Prices
- No real shop, no intermediates realize to offer nearly equal prices to the original prices on “BUYMA.com”. Further, arbitrage among “Personal Shoppers” helps to keep the prices in adequate levels.
- 4.Request Function
- “Members” are able to request “Personal Shoppers” to purchase particular products by using “Request Function”. By using this function, “Members” can purchase the products which are not exhibited on BUYMA.com.
- 5.Clearing System
- BUYMA.com implements its own clearing system which ensures safe and sound trade on the website.
- 6.Compensation Program
- BUYMA.com provides compensation program for “Members” in case of lost, damaged, defacement and quality problems of the goods they purchased. “Members” can choose either of “ANSHIN Basic” (standard program) or “ANSHIN Plus” (charged optional program). BUYMA.com also offers “Quality Guarantee Service” and “Appraisal Service”.
- BUYMA.com pursues low-cost operation by a) enforcing its up-to-date product line liaising with “Personal Shoppers” throughout the world without taking inventories, b) “Personal Shoppers” relationship management for acquisition and education, c) unique SEO strategy, d) social media marketing activities collaborating with artists and fashion models and e) publicity activities to trendy magazines and TV.
These operations result in efficient increase of its trading volume and high profitability.