CJ Olive Young reaches 1 trillion won in foreign sales by August

  • CJ Olive Young surpassed 1 trillion won in foreign offline sales through August.
  • 11.01 million foreign transactions occurred during January-August, averaging one payment every 0.9 seconds.
  • Foreign shoppers from 192 countries expanded purchases beyond Seoul across South Korea.

CJ Olive Young recorded more than 1 trillion won ($720 million) in foreign sales at its South Korean offline stores through August, reaching the milestone about three months earlier than last year, when it was first crossed in November. Foreign sales rose 47% year on year during January-August, with 11.01 million transactions, or roughly one payment every 0.9 seconds during store operating hours. Foreign customers accounted for 33% of offline sales in August, up from 2% in 2022, and shoppers from 192 countries made purchases. The United States, Singapore, Japan, China and Thailand ranked highest by purchase value. Foreign shoppers bought an average of six products per visit, while 35% spent at least 100,000 won. Sales growth accelerated outside the greater Seoul area, led by Gangwon Province, where foreign sales rose 105%, followed by Gyeongju at 88%, Daejeon at 80% and Jeonju at 62%. Dermatological skincare was the fastest-growing category, with foreign sales up 78%. Olive Young plans to renovate large stores and expand locally tailored outlets in destinations including Busan and Jeju, while using customer data to adjust product assortments and store operations by shopping district.

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