Olive Young's online store proves popular overseas
Sheet masks are the most popular item among international orders on CJ Olive Young’s online store, the retailer announced Thursday.
Celebrating one year since it launched its online overseas service, the health and beauty store released a report showing sales trends over the last 12 months.
Olive Young saw an average 50 percent sales growth in its international online business every month this year, despite the coronavirus pandemic increasing uncertainties across the globe.
Demand was particularly high in North America, which accounted for 80 percent of international sales. K-pop and the Korean Wave may have contributed in raising brand awareness in the United States and Canada, according to the retailer.
The number of foreign customers has also gradually increased, accounting for more than half of overseas online shoppers. When Olive Young first started the overseas online shop last year, 80 percent of customers were Koreans living overseas.
Skin-care products showed the strongest sales, with varying demand for each region.
Products with skin-soothing ingredients sold the most in the southern hemisphere, such as in Australia and New Zealand, where sunlight is especially strong.
In hot and humid countries like Hong Kong, disposable skin-care products including pimple patches and disposable ampule kits did well as customers tend to seek products that are easy to apply.
Small- and medium-sized homegrown brands have also grown in popularity. The company said it saw overseas sales increase for products made by relatively small brands, like skin-care brand Isntree and 9wishes, known for its hydrating ampules.
“Olive Young's global shopping mall is our channel to introduce local products to international customers. We want to spearhead the globalization of K-beauty by promoting competitive products from small local brands,” said a company official.
CJ Olive Young plans to partner with e-commerce sites from different countries to expand its distribution channels. It has previously partnered with Rakuten in Japan and Tmall and Kaola in China.
Last year, Korea exported $5.3 billion in beauty cosmetics and skin-care products, becoming the fourth-largest exporter in the world. The beauty industry’s revenue is expected to grow within the next four years to more than $379 billion, according to market tracker IBISWorld.
BY KANG JAE-EUN [firstname.lastname@example.org]
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