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Korean beauty circle, 'Double Eleven' collective enters sleepless night

by:XJ BEAUTY     2019-12-03

For many Korean beauty companies, the 'Double Eleven' has also become a veritable 'Sleepless Night '. In the eyes of many South Korean companies, China's 'Double Eleven' has far exceeded the carnival of consumers themselves.  For many Korean beauty companies, this period of time has also become a veritable 'Sleepless Night '. Jin Minxi (Transliteration) She is the head of an overseas channel for a small and medium-sized beauty brand in South Korea.  On the occasion of the 'Double Eleven', she posted a dynamic on her social networking site, saying 'November 9- On the 12th, she will be missing.  It doesn't matter.  Please don't make an appointment or disturb her.  'she told the first financial reporter that in her neighborhood, people in the industry engaged in overseas channels, no one should be able to 'sleep completely' during the Double Eleven '. Kim Min-hee is right.  According to the big data report on South Korean office workers by Job Korea, a South Korean employment information website, every time November comes, the sleep of South Korean beauty industry employees (Rest) Time has dropped significantly, and the sleep time of some enterprises has dropped by nearly 80% month on month. 

The website also mentioned in the report that 'China's Double Eleven is coming, become one of the 'biggest culprits' that affect the sleep of Korean beauty companies '. According to data from the Ministry of Commerce and the General Administration of Customs, China imported 2046 yuan from South Korea in 2018. With 0. 5 billion US dollars, South Korea has become China's largest import partner for three consecutive years; According to the survey data of the Korea Institute of Modern Economics, South Korea's dependence on the Chinese market has exceeded 60% in the export market of consumer goods including beauty products, food and health products. The obvious increase in imports of consumer goods is also clear from the current 'Double Eleven. According to the data provided by Alibaba, as of the opening hour of November 11, a total of 84 brands from home and abroad entered the Tmall double 11 'Billion Dollar Club', of which two Korean brands were among them, two hours later, more beauty brands were listed in the 'Billion Dollar Club'.  From a country perspective, South Korea became the third source country of imported goods after Japan and the United States. As of the time of publication, the 'Double Eleven' sales of many enterprises have not yet been announced, but it is worth noting that, according to the survey results of the Korean trade association on member enterprises that will participate in the event before the 'Double Eleven, 78% of enterprises replied that they 'have full confidence in their own sales over last year', while 66% of enterprises said they would increase over last year. 'After '(Whoo) As a high-end beauty brand owned by LG Life Health, a Korean beauty company, it is also the fastest brand to enter the 'billion yuan club' among the current Korean brands; According to the data provided by the company, the cumulative sales of the company's cosmetics department in the first three quarters of 2019 was 5. 67 trillion won, an increase of 22% over the same period last year, while the 'post' brand accounted for more than 30% of the company's cumulative sales and quickly became one of the brands that contributed the highest to the company's sales, among them, China's contribution to the brand's sales from Chinese channels and duty-free sales is close to 70%. When Ms.  Jin, head of the company's sales department, answered the phone call from the first financial reporter, she said with a tired voice, 'from preparation to resumption, I haven't slept much for nearly five nights. 'Ms.  Jin said that the sales of the brand during the' Double Eleven 'period each year showed a rapid growth rate of more, as a result, the company's emphasis on the 'Double Eleven' promotion activities is also increasing, and the leading level has also been targeted at a certain channel and a certain region, it has gradually turned into the largest special promotion in a year, which is conducted by senior executives from South Korea's headquarters and covers many channels between China and South Korea. According to Ms.  Jin's introduction, in order to welcome the 'Double Eleven' this year, the 'post' aspect not only promoted and publicized through Tmall, Jingdong and internet Red live broadcast channels, for the first time, I tried to hang advertisements on the 'Double Eleven' in the neighborhoods of two Korean cities in Seoul and Busan.  In addition, LG's more than ten beauty brands under the health of life, this year, a total of 8 Brands announced their participation in the 'Double Eleven' promotion, which is also the largest in history. 

 At the same time, South Korean famous beauty brands such as Amore Pacific and Aijing group have also announced that they will launch discounts for Chinese consumers through different channels during the 'Double Eleven' period.  In addition, south Korea's local duty-free shops, including Xinluo and Hyundai Department Store duty-free shops, also announced for the first time this year to join the promotion during the 'Double Eleven' period, combined with travel agencies, we will introduce preferential measures for travel and shopping discounts to South Korea to attract consumers to go shopping in South Korea. The Chinese consumer market also provides new opportunities for some small and medium-sized beauty companies in South Korea (Papa Recipe)Is one of them. According to the data provided by the company, the sales volume of Chunyu brand exceeded 5 million yuan in the first hour of Tmall flagship store, and the annual sales volume of some explosive products increased by 500% year on year, while last year, the brand sold 8. 8 million yuan a day. Zoe, the head of the brand, told the first financial reporter that as a new and established brand, compared with large enterprises, it has limited ability in Channel promotion and layout, however, with the Internet platform and relying on China's fast-growing Internet platform, many creative South Korean enterprises have also gained the impetus to sustainable growth and innovation. In addition, some enterprises have gained the thinking of empowering and transforming their products through the 'Double Eleven. Park gentai, president of South Korea's CJ Group's China headquarters, which focuses on food, consumer goods and beauty products, told first financial reporter that during the Double Eleven event, China's logistics system and unmanned warehouses, as an important foundation to support large-scale and complex scene transactions, CJ Group will also learn from Chinese enterprises in future industries such as artificial intelligence, 5G and O2O, and introduce excellent ideas to South Korea to empower the core industries of CJ Group and improve circulation efficiency. Li douxi, a professor of management department of Korea University and president of Korea Business Association, believes that the reason why more Korean brands choose to exert their power during the 'Double Eleven' period is, on the one hand, in view of the scale of the Chinese market itself, at the same time, it also benefits from China's official open policy on overseas cross-border shopping and imports. 'The development of the Internet and the promotion of economic cooperation in East Asia will gradually blur the concept of origin of products, and more products will compete on the same competition standard, this will also promote the growth of the quality of the products themselves, and at the same time provide a source of innovation for small and medium-sized Korean enterprises with limited capital. 'Li douxi told the first financial reporter.                                

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