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On Wednesday, CJ Olive Young Corp., the distribution unit of South Korean food-to-cosmetics conglomerate CJ Group, opened a store that caters to international travelers in Seoul after a long period of the COVID-19 pandemic.
The Myeongdong outlet of CJ Olive Young underwent a major renovation to become an online-to-offline (O2O) shopping platform, designed to provide convenience to foreign customers.
O2O commerce is a business model that attracts potential buyers from online channels to make purchases in physical stores.
“Clients can place orders for cosmetics and beauty products on the CJ Olive Young online shopping app and collect their items at Olive Young Myeongdong Town,” the company declared in a statement.
The renewed store offers services in four languages: Korean, English, Chinese, and Japanese.
From January to October, foreign purchases at CJ Olive Young’s Myeondong shop increased by 840 percent compared to the same period in the previous year, as customers from China, Japan, Britain, Southeast Asia, and the United States made purchases.
The Korea Tourism Organization reported that the number of foreign visitors to South Korea remained above 1 million for the third consecutive month in September.
This photo taken Nov. 1, 2023, and provided by CJ Olive Young Corp. shows foreign tourists stepping out of its foreigner-focused outlet in Myeongdong, central Seoul. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
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