Olive Young hits record during summer sale

[Photo by Lee Chung-woo]

As the global popularity of Korean cosmetics continues to soar, CJ Olive Young is solidifying its status as a must-visit destination for foreign tourists. Known for its extensive range of beauty products, the retailer’s ‘Olive Young Sale’ event, held four times a year, has become a major attraction for international shoppers seeking the latest K-beauty products.

CJ Olive Young reported on Monday that during the most recent ‘Olive Young Sale,’ which took place from May 31st to June 6th, 2024, sales to foreign customers increased by a record 140 percent compared to the same sale period during the previous year. The number of transactions by foreign customers also surged by 160 percent during this period. When compared to the June 2022 sale, held just after the Covid-19 pandemic began to subside, sales to foreign customers skyrocketed by 4,035 percent. The company said that it has been setting new sales records with each sale event.

Among CJ Olive Young’s stores, the Myeongdong Town branch was the most popular among foreign shoppers, with a 120 percent increase in sales during the sale period. The Hongdae Town branch followed, with a 92 percent rise in sales to foreign customers.

The two branches are globally specialized stores that cater to international shoppers and offer various conveniences. Foreign sales typically account for around 90 percent of these stores’ total sales and the Myeongdong Town branch in particular attracts over 5,000 foreign buyers daily.

Popular products among foreign tourists during this sale included the Torriden Dive-In Low Molecular Hyaluronic Acid Mask and the Round Lab Birch Juice Moisturizing Sun Cream. These products, developed by small and medium-sized enterprises, are also popular among Korean consumers.

A notable trend is the shift from mask packs to comprehensive skincare routines among the top-selling products. The recent change in foreign tourists’ shopping behavior towards seeking value-for-money offerings has also further boosted the retailer’s popularity.

CJ Olive Young introduced translation devices that are capable of simultaneous interpretation in 16 languages across its stores nationwide in April 2024, further enhancing the shopping experience for international visitors.