Olive Young stores in non-metropolitan areas increase sales by more than 200% during the Chuseok holiday.

Sales at top 10 non-metropolitan stores increased by more than 200%... The price per guest also increased by more than 50%.

(Seoul = Yonhap News) Reporter Cho Min-jung = Sales from teenage customers increased by more than 200% at Olive Young stores outside the metropolitan area during the Chuseok holiday.

According to CJ Olive Young on the 5th, average daily sales at stores outside the metropolitan area during the Chuseok holiday, September 24th to 27th, increased 62% compared to the previous two weeks (September 10th to 23rd).

While the average daily sales increase at stores in the metropolitan area was 36%, sales in non-metropolitan areas increased by 62%.

By age group, teenage customers had the largest increase in sales. The average daily sales of teenage customers increased by more than 200% compared to the previous two weeks, and the unit price also increased by more than 50%. Sales from customers in their 40s, who are parents of teenage children, also increased by more than 100%.

The average daily number of customers purchasing products at stores outside the metropolitan area increased by 27%, and the per-customer price also increased.

It is interpreted that sales increased as customers visiting rural areas for the holidays used local Olive Young stores.

In particular, sales among customers in their teens and those in their 40s also increased, which appears to have partially reflected family consumption.

By item, average daily sales of color cosmetics increased by 63% compared to the previous two weeks, and basic cosmetics increased by 50%. Health product sales increased by 44% and fragrance sales increased by 39%.

Sales of health-related products, reflecting the demand for holiday gifts, also increased. Olive Young explained that health food sales increased by 19%, and that purchase items have become more diverse, including existing health foods such as vitamins, red ginseng, omega 3, and lactic acid bacteria, as well as inner beauty products targeting weight management and skin health, and products related to sleep and relaxation.

By region, average daily sales at Jeolla-do stores increased by 72%, recording the highest growth rate. Gangwon-do 66%, Gyeongsang-do 62%, and Chungcheong-do 61% followed.

The increase in sales at stores outside the metropolitan area also occurred during Chuseok last year. Last year, average daily sales at stores outside the metropolitan area during the Chuseok holiday increased by 45% compared to the same period last year, exceeding 15% in the metropolitan area.

Olive Young has recently been focusing on expanding stores outside of the metropolitan area. This year, we plan to invest 123.8 billion won in new store openings, renewals, and logistics infrastructure in non-metropolitan areas, and to place 43 of 78 large stores of 100 pyeong or larger in non-metropolitan areas.

Last August, Nampo Town branch opened in Busan with an area of ​​900 pyeong, the largest outside of the metropolitan area. This is a store that expanded the existing 200 pyeong store to 4 floors and 900 pyeong, and is the first store outside of the metropolitan area to have three beauty consultants.

As the number of foreign tourists visiting rural areas increases, the role of stores outside the metropolitan area is also growing. Among the top 100 stores in terms of number of foreign customers, the proportion of stores in non-metropolitan areas increased from 27% in 2023 to 52% last year.