CJ Olive Young (hereafter Olive Young) said on the 14th that the wellness curating platform "OLIVE BETTER" marked its 100th day since launch.
OLIVE BETTER is a platform that Olive Young introduced on Jan. 30, expanding its existing health category to wellness overall with "healthy beauty" as its core value. It is characterized by presenting the somewhat abstract concept of wellness in a way that fits customers' lifestyles.
OLIVE BETTER drew mainstream demand by putting wellness shots and gummy-type health foods, which are attracting attention in the global wellness market, at the forefront. A differentiator is that it sells wellness shots, concentrated in small bottles or pouch form, as single units so customers can easily try products that suit them.
This strategy translated into sales results. As of the end of last month, more than half of the top 30 products by sales at OLIVE BETTER stores were wellness shots and gummies. The number of Olive Young members who experienced wellness products for the first time surpassed 1.8 million.
Response from foreign customers is also growing quickly. At Gwanghwamun, the first OLIVE BETTER store, foreigners accounted for only 7% of sales in the first week of February right after opening, but the figure neared 50% by the end of April. The top five products purchased by foreign customers were all domestic brands, including Rejuran, BB Lab, and Nothing Better.
Olive Young plans to advance OLIVE BETTER by strengthening experience-based curation across all online and offline channels. The online mall will undergo a full revamp so customers can easily understand the characteristics of wellness products and search according to their goals. OLIVE BETTER supports an app-in-app service within the Olive Young app. In addition to tailored product recommendations by consumer, purpose, or ingredient, customers can receive guidance on intake methods and functions, and use a "routine alert" feature that reminds them when to take supplements.
It will also expand offline stores. The goal is to secure 10 stores within the year, focusing on commercial districts in Seoul and the greater capital area with strong inflows of foreign tourists and people in their 20s and 30s, such as Myeong-dong and Seongsu. It is also considering hybrid stores that combine Olive Young with OLIVE BETTER.
An Olive Young official said, "The 100th day since OLIVE BETTER's launch is significant in that it successfully transplanted the K-beauty success formula Olive Young has built into the wellness market to create a solid K-wellness ecosystem and prove global expansion potential," adding, "We will continue to discover emerging domestic wellness brands, drive market innovation, and strengthen the competitiveness of K-wellness."