The COVID-19 pandemic made indoor life style more important than before. Accordingly, various products and services have been developed. Many countries began to introduce schemes to live with COVID-19 step by step. However, demand for products and services for such life is expected to continue as people have gotten used to efficiency and convenience of them already. The rapid increase of smartphone penetration rate for children and elderlies worldwide brought continuous growth of mobile device’s accessory market. Goonies Co., Ltd.(CEO: Lee, Yun-jae) is working to open up an indoor gamification market of fine art and athletics sector for children with its Smart Palette and other products of App toys. Goonies has released products that enable children to grow their creativity while playing with them.
A Smart Education Palette from Goonies
Having been established in 2014 by IoT developers, Goonies developed and made Smart Palette, a device for art education. The product can be used by connecting it to smart devices such as smartphones, tablet PCs and touch screen TVs through either a cable or wirelessly. The educational device is a new kind of App toys that ensures qualitative art education by providing over 1,000 free content with its app.
The device is a converged IoT product that integrated hardware and application. The convergence lowers entry barrier of smart devices for children and elderlies who are yet to be used to such devices.
It provides over 1,000 quality content for free with the connection with smart devices ensuring an experience of playing, learning and healing based on art education. Goonies upgraded the device for better convenience by focusing on portability and intuitive usability.
The business model of the product encompasses not just B2C but B2G. Goonies took a head start in the South Korea’s online market for the sector through one of the leading online merchandising platform in the country. The product is also visible in offline market as it is on the shelves of 31 stores of Electromart (an electronic devices specialized store of South Korea) and 146 stores of N.CAT (a comprehensive accessory store of South Korea). Goonies secured places for trying Smart Palette in kids cafes, city and town halls, libraries, nursing homes for dementia patients, etc. It is planned to deliver around 1,000 units of the product to elementary schools nationwide.
Goonies exported the device to six countries in total such as Japan, Vietnam, Indonesia and Australia by participating in various overseas exhibitions and business promotion events earning around 70 thousands dollars from export. The overseas reference made the company a global brand.
Goonies’ revenue from overseas e-commerce through Amazon and other leading online shopping platform in South East Asia marked 12 thousands dollars per month. Smart Palette has been sold for over 700 thousands units so far. The company is ready to secure additional sales channel. Its product has been already made visible to the public via overseas influencers’ social media.
Having been selected for one of the Top 100 businesses at the Echelon ASIA SUMMIT, one of the largest startup-related events in Asia, Goonies secured business networks of Asia’s investors and collaborative partners. The company plans to export its product to the U.S. and Europe markets by capitalizing on its experience of attracting investments from Samsung Venture Investment and its business partners. CEO Lee Yun-jae of Goonies said “Smart Palette brought us the Presidential and grand prizes at several governmental projects and data-utilization contests demonstrating business expandability of it.” Adding “Currently, we’re securing marketability of App toys through continued sales increase”.
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