CJ Olive Young Surpasses 1 Trillion Won in Cumulative Online Mall Transactions

CJ Olive Young's online mall cumulative transaction amount has surpassed 1 trillion won.

[Asia Economy Reporter Lim Chun-han] CJ Olive Young announced on the 2nd that its online mall's cumulative transaction amount has surpassed 1 trillion won. This comes after about four years since launching its own online mall in April 2017.

The Olive Young online mall's annual transaction amount has sharply increased by approximately 60% each year. Especially this year, due to the impact of COVID-19 and other factors, online purchases surged, with transactions from January to the end of July exceeding 270 billion won. This accounts for about 25% of the total cumulative transaction amount.

The number of online mall reviews surpassed 9 million as of the 11th. Building on the integrated online and offline review service launched early last year, it set a record for the highest number of reviews in the beauty industry and increased by about 1.5 times in eight months. Additionally, the cumulative number of mobile application (app) downloads reached 8.34 million. This growth trend is analyzed to be due to maximizing O2O synergy by linking online and offline channels, thereby establishing a unique omnichannel commerce platform.

Olive Young is actively recruiting excellent information technology (IT) developers and focusing on creating a free work environment conducive to their productivity. Through this, the goal is to introduce digital services that meet customer demand and achieve 500 billion won in transaction amount this year.

An Olive Young official said, “Achieving a cumulative transaction amount of 1 trillion won is a result of expanding the solid capabilities built offline to online, demonstrating the strength as a vertical platform,” adding, “Olive Young online mall will evolve beyond a commerce mall into a platform where anyone can freely visit and enjoy, leading the industry.”