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EQS-News: elumeo SE
/ Key word(s): Miscellaneous
Video shopping app Jooli continues successful development in 2023
● Jooli grows to over 1,200 channels in Germany and India ● Introduction of AI-based real-time feed in Q2 2023 ● Start monetization via jooliPay in India in Q3 2023 ● Launch of voice control and Metaverse app planned for 2023
Berlin, 27.03.2023 – elumeo SE is pressing ahead with the development of its video shopping app Jooli. From December 2021 to March 2023, the offer grew by an average of 90 channels per month to currently 1,237 channels. Especially in India, with 1,074 channels and more than seven million videos played, there is a very wide range. In total, more than eight million videos have already been played out since the launch of the app in April 2021.
For the second quarter of 2023, Jooli plans to introduce an improved 3rd generation of the artificial intelligence-based feed of the app, which displays the results in real time. With the artificial intelligence-based real-time feed customers' videos can be aligned even better with their needs. Thanks to the large variety of videos on the platform, Jooli adjusts the video feed of its users in real time after just a few interactions. The platform uses AI algorithms to analyze and categorize videos. Based on the analysis results, the platform selects which videos are relevant for which users and arranges them in a personalized feed. Even while scrolling through the feed, the AI engine learns which videos are most interesting for the user and adapts the following playouts accordingly. Overall, the process means that users can spend more time on the platform and discover more content relevant to them in the personalized feed.
For the third quarter of 2023, the introduction of a convenient payment function called jooliPay is planned for the Indian market. This allows customers to pay for the products selected on the platform directly and without additional obstacles within the app, without being forwarded to the merchants beforehand. The merchants’ interfaces to the platform are automatically integrated. Jooli receives a commission from the payments. Initial insights into actual revenues on the platform and the potential for Jooli are expected in the fourth quarter of 2023.
Further significant product improvements are planned for the second half of 2023. For example, Jooli shall be supplemented by AI-based voice control, which enables video shopping completely without text input. In addition, a cooperation with the Laboratory for Virtual Studio and Virtual Reality of the University of Applied Sciences Düsseldorf was started to further develop Jooli's Metaverse prototype and to turn the innovation into a launchable product. With Jooli's Metaverse application, presenters will be able to present products live in 3D to an audience participating via VR glasses. Operational development of elumeo SE in 2022 in line with expectations According to initial calculations, the business development of elumeo SE in the financial year 2022 proceeded as planned and is within the announced forecast. The expected decline in revenues is in the single-digit % range, the Italian TV business accounts for around 35%. The announced decline is accompanied by disproportionately high savings in reach costs. The gross profit margin in 2022 is stable at over 50%. As announced, adjusted EBITDA is expected to be in the low single-digit million range. The Annual Report 2022 of elumeo SE and a forecast for the current financial year will be published as planned on April 25, 2023.
About elumeo SE: The elumeo Group, headquartered in Berlin, is the leading European company in the electronic direct sale of high-quality gemstone jewelry. Via a variety of electronic sales channels (TV, Internet, Smart TV and smartphone app), the listed company offers its customers in particular colored gemstone jewelry at reasonable prices. The elumeo Group operates home shopping television channels in Germany, Austria, Switzerland and Italy as well as webshops in Germany, Austria, Switzerland, Great Britain, Italy, France, the Netherlands, Spain and Belgium. With its 100% subsidiary, the elumeo Group operates the AI-controlled video shopping app .
Contact elumeo SE
27.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | elumeo SE |
| Erkelenzdamm 59/61, Portal 3b | |
| 10999 Berlin | |
| Germany | |
| Phone: | -0 |
| Fax: | -20 |
| E-mail: | |
| Internet: | |
| ISIN: | DE000A11Q059 |
| WKN: | A11Q05 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart |
| EQS News ID: | 1593319 |
| End of News | EQS News Service |
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1593319 27.03.2023 CET/CEST
