Foreign Visitors to Olive Young Increase 11-Fold in Three Years

The number of foreign tourists visiting Korea is increasingly aligned with the discount events held by CJ Olive Young.
 
On June 22, CJ Olive Young announced that the number of foreign visitors returning to Korea during the Olive Young Sale periods in March and June has increased 11-fold compared to three years ago, based on an analysis of tax refund data from Global Tax Free and foreign customers.
 
The trend of foreign customers returning to Korea for the sale events is growing rapidly each year. Since 2023, the average number of foreign visitors who have returned to Korea more than twice during the sale periods has doubled annually.
 
Last year, over 6,200 foreign tourists entered Korea three or more times during the Olive Young Sale to purchase products.
 
To qualify for tax refunds, these visitors must depart within a specific timeframe, indicating they are not making multiple purchases during a single long stay but are returning customers after going home.
 
CJ Olive Young attributes the increase in repeat visits to large-scale events and a diverse range of products. The Olive Young Sale occurs four times a year—in March, June, September, and December—featuring over 1,500 beauty and wellness brands.
 
Foreign customers can explore the latest K-beauty products and seasonal trends all at once during these events. The shopping experience is enhanced by staff product explanations, personalized curation based on skin concerns, and multilingual assistance, leading to increased demand for future visits during the Olive Young Sale.
 
The spending habits of foreign tourists are also expanding. During this June's Olive Young Sale, foreign sales at stores outside the capital region increased by 72% compared to the same event last year, significantly surpassing the national average increase of 45%.
 
This growth is attributed to foreign visitors shopping at Olive Young locations near traditional tourist areas such as Myeongdong, Seongsu, and Hongdae, as well as regional tourist destinations like Busan, Jeju, and Gyeongju. This aligns with the trend of tourists experiencing local shopping, dining, and cultural practices, known as 'K-Dailycation.'
 
For overseas customers unable to visit Korea, participation in the Olive Young Sale was also available online. During the same period, visits to the Olive Young Global Mall increased by over 180% compared to last year's event. The growing recognition of the offline event has also boosted demand for overseas direct purchases.
 
Last year, foreign purchases at Olive Young surpassed 1 trillion won for the first time. As foreign spending rises, Olive Young is expanding its global tourist retail locations in major tourist areas such as Myeongdong, Seongsu, Hongdae, Busan, and Jeju, using these stores as showrooms to gauge domestic brand demand abroad.
 
CJ Olive Young plans to continue enhancing K-beauty curation for foreign customers visiting for the Olive Young Sale. The company also aims to improve convenience services at global tourist retail locations, including the introduction of shopping support devices.
 
A representative from Olive Young stated, "We will continue to enhance foreign tourist satisfaction with our unique capabilities and expand opportunities for K-beauty brands to connect with global customers."