South Korean retailers are gearing up for a surge in global shopping demand next month, timing major overseas promotions with US Black Friday and China’s Singles’ Day as they seek to capture more spending from international consumers.
W Concept, operated by Shinsegae, will run a two-week ‘W Week’ promotion on its global mall starting October 30, followed by a Black Friday–Cyber Monday event offering discounts of up to 90 per cent on more than 100 fashion brands.
The company said it aims to leverage rising demand for Korean fashion and beauty products during the US holiday shopping season.
E-commerce platform Gmarket plans to spotlight popular K-beauty items such as hair and body-care products during its ‘Big Smile Day’ event from November 1 to 11, while also participating in Lazada’s regional promotions across Southeast Asia.
CJ Olive Young will host Black Friday-themed events for different regions, with giveaways tailored to local tastes, and Musinsa will launch a mid-November ‘Monster Sale’ on its global storefront.
Retailers expect overseas direct-to-consumer sales – known locally as “reverse direct purchases” – to continue rising as Korean cosmetics, music merchandise and apparel retain global momentum.
Online exports reached 738.8 billion won (about US$540 million) in the second quarter, up 7.5 per cent from a year earlier, led by demand from China, Japan and the United States.
Still, US tariff changes loom as a potential hurdle. Since late August, American shoppers have been required to pay duties on Korean shipments valued under $800, a threshold that had previously been exempt.
For now, Korean companies say the impact remains limited, but they are watching closely.
“Demand for Korean products remains strong in global markets,” a retail industry official said. “We’ll have to see how shoppers respond in the months ahead.”
- This story was originally published on The Korea Bizwire.
