Korea Market Successful Case
Jul 18,2022 | Do's Farm
South Korea is a fast-developing country among emerging economies. It joined the Organization for Economic Cooperation and Development (OECD) in 1996. According to relevant data, South Korea's per capita GDP and GNI exceed 30,000 US dollars, and the consumption patterns are diverse and trendy. It is one of the global test markets. Communication, fashion, games and movies are leading global consumption. South Korea's national credit rating remains at the highest level in history, and it has signed free trade agreements with major economies such as China and the United States. The total GDP of countries and regions that have signed free trade agreements accounts for about 76% of global GDP. In 2020, the total domestic retail sales in South Korea was 475.2 trillion won (about 402.68 billion US dollars), a year-on-year increase of 0.4%. South Korea's main trading partners are China, the United States, ASEAN, and the European Union.
We have been committed to selling our products to the world, including Korea of course. With high-quality products and professional pre-sales and after-sales service capabilities, we have successfully developed the Korean market and sold sugar-free mints to the Korean market.
After communicating with Korean customers who are interested in our products, we send customers some samples of sugar-free mints for free. At the same time, we also provide customers with specific marketing programs. For example, about the offline channels of product retailing, the price of a single product, and the expected commercial benefits to partners, etc. After communication and negotiation, Korean customers finally chose our sugar-free mints, which include 4 flavors, namely lemon, peach, grapefruit and strawberry. All four flavors are produced in a 22g bottle.
Regarding offline sales in the Korean market, our sugar-free mints are mainly sold in GS25 convenience stores. GS25 (full name: GS Retail Co., Ltd.), formerly known as LG 25, is a chain of convenience stores located in South Korea, operating since February 1990. In 2005, it had 2,000 branches throughout Korea, and by 2018, there were 8,000 branches around the world, and it is now one of the companies under the GS Group. Currently one of the top five chain convenience stores in Korea, GS25 ranked first in the Korean Customer Satisfaction Index in 2000 and won the first Best Franchise Brand Award and Brand Power Award for three consecutive years. GS25, as the leading convenience store brand in Korea, brings the most profitable stores to each store by focusing on increasing assortment. GS25 has been recognized by well-known media as the most respected Korean company, and has been rated as the No. 1 customer satisfaction in the Korean industry for many times.
In such a convenience store, Do's Farm sugar-free mints are placed at the cashier counter and snack area. According to relevant data, placing our sugar-free mints can increase sales at the checkout position by at least 10%.
In order to better assist Korean customers in sales, we provide SOP (Sales and Operation Program) to customers. Take the "Buy 2+1" promotion when sugar-free mints go retail. At the same time, we also cooperate with some KOL on IG to create brand effects and promote our sugar-free mints to Korean consumers. In addition, we also produce customized gift box product packaging for customers to carry out corresponding marketing activities. Such as hunger marketing, the launch of a limited number of Valentine's Day gift boxes and "Thanks Packs" gift boxes.
In short, Korean customers who cooperate with us can enjoy our complete pre-sale and after-sale service. We will provide free samples and display materials, as well as support brand activities. We will have professional staff in charge of marketing to assist customers to better sell sugar-free mints purchased from our company.
Our cooperation with Korean customers started at the end of 2018. In 2019, there was a good sales situation, and the order amount exceeded one million US dollars. In recent years, Korean customers purchase sugar-free mints from us every year, and the total order amount is about 1.2 million US dollars.
In 2022, our cooperation with Korean customers will continue, and Do’s Farm sugar-free mints will continue to appear in Korean convenience stores, bringing considerable business benefits to Korean customers.
In addition to the 22g sugar-free mints mentioned above, we also recommend our new sugar-free mints to Korean customers, such as lipstick-packed sugar-free mints. Customers are interested and can learn more about the product details. We believe that we can continue to export our products to the Korean market with high-quality products and professional service capabilities.
After you decide to purchase products from us, we will provide you with professional services in all aspects from product retail price to sales plan, etc., and do our best to help you improve your sales performance. If you also want to be successful in business and enjoy our complete pre-sales and after-sales service, please feel free to contact us!