Samyang Foods achieves record sales in China’s Double 11 shopping event

[Courtesy of Samyang Foods]

South Korean food manufacturer Samyang Foods said on Thursday that it attained its highest-ever sales of about 13 billion won ($9.95 million) during China’s largest shopping festival, the Double 11 event.

This figure marks a 39 percent increase from the previous year’s record and a 19 percent surge compared to the 2021 sales of 11 billion won.

The Double 11 shopping extravaganza held annually on Nov. 11 in China sees major retailers like Alibaba and JD.com launching widespread discount events.

During this year’s event, Samyang Foods products garnered sales worth 8 billion won through Alibaba and JD.com, with an additional 5 billion won worth of sales through Douyin, Kuaishou and Pinduoduo.

The notable boost in sales was driven by the popularity of the company’s spicy chicken noodles. The debut of a Chinese exclusive product, the ‘Seasoned Chicken Spicy Stir-fried Noodle,’ saw all 2,000 boxes prepared for sale quickly sold out.

“Despite the economic slowdown in the region, we managed to expand our sales channels and achieve commendable results. We will actively target live commerce channels such as Douyin and Kuaishou, in line with trends in the local online commerce market, through our Chinese subsidiary,” said a company official.

China currently accounts for 35 percent of Samyang Foods’ overseas sales. The company established a local sales corporation in Shanghai in September 2021, commencing operations from February of the following year.

Samyang Foods has been reinforcing its marketing efforts in China, focusing on large supermarkets and convenience stores, while also expanding its online channels starting this year.