Special Global Direct Purchase Promotion Throughout November
Linked with Korea's Largest Shopping Event 'Korea Sale Festa'
[Asia Economy Reporter Moon Chaeseok] KOTRA announced on the 26th that it will hold the 'KOTRA-CJ Olive Young Global Special Promotion' together with CJ Olive Young for one month starting next month. The purpose is to promote reverse direct purchase sales by intensively marketing about 100 carefully selected domestic cosmetic brands by CJ Olive Young to overseas consumers. Reverse direct purchase refers to the act of overseas consumers purchasing products from domestic online shopping malls.
Korea's reverse direct purchase exports have shown growth in recent years due to the global untact consumption trend and the spread of Hallyu. According to the Korea Customs Service, last year the number of reverse direct purchase export cases increased by 50.6% compared to the previous year to 40.497 million cases, and the export amount increased by 46.6% to 1.745 billion dollars (approximately 2.4971 trillion won).
In this promotion, a K-Beauty exclusive section will be opened and operated on the CJ Olive Young Global Mall in November, when overseas consumption becomes active. The promotion will be held simultaneously not only on the CJ Olive Young Global Mall (English and Japanese pages) but also on the Olive Young section of the Japanese e-commerce platform 'Rakuten'.
To maximize exposure of participating companies' products to overseas consumers, activities such as ▲search portal (Google) keyword advertising ▲SNS (Facebook) advertising ▲discount coupon provision ▲influencer marketing will be conducted. In particular, influencer marketing will be targeted at the Japanese market, where the 4th Hallyu boom is occurring.
KOTRA Osaka Trade Center plans to actively promote sales events targeting Japanese consumers by utilizing local influential influencers' YouTube channels and Instagram. In addition, KOTRA will arrange buyer and B2B consultations to support small and medium-sized enterprises' overseas sales and exports in various ways.
The event will be held in connection with Korea Sale Festa (Kosepe), a large-scale domestic shopping festival. KOTRA plans to conduct promotional events linked with Kosepe together with various overseas distribution networks such as Shopee, Taobao, and Qoo10.
Jung Wooyoung, Head of KOTRA Innovation Growth Headquarters, said, "In a situation where the global economic conditions are difficult, it is urgent for Korean cosmetics companies to pioneer overseas sales channels," and added, "We will actively support so that overseas consumers can easily find 'K-Beauty' products by collaborating with various domestic and international distribution networks."
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