CJ Olive Young Expands Live Commerce with Mobile Live Broadcast 'Olive Young Live'... "Growing Live Commerce"

New Broadcast Format Added... Expanded to Air Every Weekday

CJ Olive Young is conducting a broadcast called 'GET IF Debate' through 'Allive'.

[Asia Economy Reporter Lim Chun-han] CJ Olive Young announced on the 5th that it will revamp its own mobile live broadcast 'Olive Live' as 'Ollyoung Live' starting this month.

With an intuitive naming that combines the abbreviation of Olive Young, 'Ollyoung,' the goal is to firmly establish a differentiated live commerce identity. In particular, this revamp will serve as a stepping stone to accelerate the development of proprietary intellectual property (IP). Beyond just introducing and selling products and brands, Olive Young plans to expand planned live broadcasts that can only be seen on Olive Young, aiming to secure viewers from the MZ generation (Millennials + Generation Z).

Previously, Olive Young conducted a pilot broadcast in 2019 and officially scheduled 'Ollyoung Live' from April 2020. Last year, the annual number of viewers increased 3.5 times compared to the previous year, and order amounts increased sixfold, maintaining a high growth rate. Among viewers in the first half of this year, those in their 20s and 30s accounted for 80%, and the purchase conversion rate through live broadcasts exceeded the annual average of 22% last year.

Olive Young added two new broadcast formats, increasing planned content to five. The newly introduced broadcasts are 'Moigong(0)Ssadagu(9),' a group purchase concept, and 'Get IF Debate,' inspired by a balance game. The number of broadcasts has also increased from three times a week to five times a week starting this month, scheduled every evening at 8 PM from Monday to Friday. Within the year, Olive Young plans to open a live section in its mobile application (app) to further strengthen its live commerce competitiveness.

An Olive Young official said, "Starting this month, we will continuously introduce new broadcasts under the name Ollyoung Live that enhance fresh fun and communication, providing a differentiated shopping experience," adding, "We will also accelerate the development of proprietary IP and strengthen platform competitiveness, including live commerce."