Jeonggwanjang Mall Surpasses 1 Million Members After 4 Years... Sales Grow 16 Times

[Asia Economy Reporter Seungjin Lee] KGC Ginseng Corporation's direct online mall, Jeonggwanjang Mall, announced on the 26th that it has surpassed 1 million members for the first time in 4 years. Since its launch in July 2017 with 20,000 members, the number of members increased about 50 times by June 2021.

Surpassing 1 million members in a short period with the single concept of 'health' is an unprecedented achievement among food industry company malls. Unlike general shopping malls handling multiple product categories, focusing on the 'health functional foods and food' sector to secure expertise and increase consumer trust is analyzed as the key factor.

The increase in members directly translated into sales. Currently, Jeonggwanjang Mall receives over 30,000 orders per month on average, and the number of products sold exceeds 5,000. Sales grew 16 times in three years, from 3.3 billion KRW in the first year of 2017 to 52.7 billion KRW in 2020, and recorded cumulative sales of 27.6 billion KRW up to June this year.

Another characteristic of Jeonggwanjang Mall is that it holds members not only in their 20s and 30s but also in their 40s. The customer base is balanced by generation: 24% in their 20s, 39% in their 30s, and 24% in their 40s.

Meanwhile, to celebrate surpassing 1 million members and the 4th anniversary of its opening, Jeonggwanjang Mall is holding a Customer Appreciation Festival until August 22.

During the event period, a prize recommendation event is prepared for customers who purchase from Jeonggwanjang Mall. First prize (1 person) is 1 nyang of Jeongmall gold bar, second prize (99 people) is Hong Sam Jeong Everytime 30 packs and a calendar featuring model Song Kang, third prize (300 people) is Good Base Jeju red cabbage broccoli and Jeongmall picnic mat, and fourth prize (600 people) is 10 types of Jeongmall character goods.

Support funds for overcoming the summer heat are also prepared. On August 10, Malbok day, 1,000 customers who purchase from Jeonggwanjang Mall will receive a 10,000 KRW mobile gift certificate for Bonjuk health porridge. Additionally, gifts and point accumulation benefits will be provided.

Lee Hong-gyu, head of marketing at KGC Ginseng Corporation, said, “Jeonggwanjang Mall is a health food specialized online shopping mall platform where our own products and over 5,000 items are listed,” and added, “The secret to success lies in the fusion of differentiated points such as health functional foods, Jeju Quality Certification (JQ Certification) specialty products, B-grade advertising, youth and franchisee win-win new concept marketing strategies.”