Amazon Global Selling Reveals Strategies for Korean Sellers to Enter Global Markets

Amazon Global Selling Korea announced a new strategy at the ‘2023 Amazon Seller Day’ held on December 5 at the Amazon Seoul office to help Korean sellers more easily enter Amazon marketplaces worldwide.

[Shin Hwa-sook, CEO of Amazon Global Selling Korea, speaking at the '2023 Amazon Seller Day']

Shin Hwa-sook, CEO of Amazon Global Selling Korea, stated, “Interest in Korean culture is increasing,” and explained, “Korean brands continue to grow within the optimal business environment provided by Amazon, and I am confident they will continue to succeed.”

In fact, as of the third quarter of 2023, domestic sellers who started selling on Amazon in 2021 showed the high potential of Korean brands by achieving approximately triple-digit growth compared to their first-year sales in 2023. The growth of these domestic sellers can be considered truly global; for example, the Korean skincare brand COSRX achieved the remarkable feat of ranking first in total Amazon sales across all categories during this year’s Amazon Prime Big Deal Days with its flagship product, ‘Snail 96 Mucin Power Essence.’

The new strategies introduced by Amazon Global Selling Korea on this day to support domestic sellers’ global expansion are as follows.

- Customized Incentives for New Sellers

All new sellers entering the U.S., Japan, and European marketplaces through Amazon can receive support through the ‘New Seller Incentive Program.’ This program includes various benefits provided when first using services such as Brand Registry, FBA (Fulfillment by Amazon), advertising, and coupons. Additionally, new sellers who register accounts between October 2023 and April 2024 and sell in the North American market are offered a fee waiver promotion, allowing them to use the Professional Plan for just $1 during the first six months. This promotion enables sellers to start cross-border e-commerce at a low cost, reducing the financial burden for those taking their first steps into overseas markets.

- Increased Seller Support Opportunities through Strengthened Government Cooperation

Amazon Global Selling Korea has been developing various cooperation plans with government agencies, starting with the MOU for the ‘Korea Global E-commerce Park,’ a one-stop export support program for small and medium enterprises, signed with the Seoul Business Agency this year. The logistics support program in North America is another representative example of cooperation with the government. Sellers without their own logistics warehouses in the U.S. can reduce logistics costs and expand distribution channels by sharing the logistics partner system of KOTRA (Korea Trade-Investment Promotion Agency). Starting in 2024, the scope of eligible items for this program will expand to include frozen and refrigerated foods, enabling Amazon sellers to meet the growing demand for K-food on Amazon.

Amazon Global Selling Korea is rapidly adopting Amazon’s global technological innovations that make the entire sales process more convenient, in addition to domestic seller support programs and incentives.

- Expected Simplification of Shipping for Korean Sellers with the Launch of the ‘Amazon SEND’ Program in Q1 2024

This program is a one-stop FBA logistics solution where logistics companies carefully selected by Amazon ship sellers’ products from Korea to Amazon fulfillment centers in the U.S. It is currently in pilot testing and is scheduled for release in the first quarter of 2024. From shipment creation to tracking, the entire shipping process can be managed through the integrated seller portal, Amazon Seller Central, allowing sellers to manage shipping conveniently at a more reasonable cost.

- Integration of the Latest Technologies to Enhance Seller Sales Experience

With the application of the latest generative AI technology during product registration, sellers can simply input a few sentences to automatically generate product titles, key attributes, and descriptions with high accuracy and proper formatting. For consumer and product analysis, more detailed metrics and dashboards have been developed, enabling sellers to use built-in Seller Central tools such as ‘Amazon Brand Analytics’ and ‘Product Opportunity Explorer’ to gain tangible insights and detect even small changes related to consumer demand.

Meanwhile, over 1,000 sellers registered for the ‘2023 Amazon Seller Day’ through online and offline channels. The event, featuring various invited speakers, allowed new sellers to view Amazon sales from a broader perspective and understand overall sales direction through on-site consultations and event participation. Replays of the main sessions from ‘2023 Amazon Seller Day’ are available on the Amazon Global Selling Korea YouTube channel.