SOUTH KOREA REPORT: SHILLA DUTY FREE
revenue growth opportunities that complement the company’s offline duty free offer in its downtown stores, the spokesman noted. He also said that English
and Japanese online shopping portals will be added shortly to the existing Korean and Chinese language services provided by the Shilla Duty Free Korea Mall and China Mall websites. “Online sales represent our fastest
growing channel,” he said. “Korea Mall is still our biggest service, but sales on our China Mall site are rapidly growing to catch up with our Korea Mall. “We are preparing our new Japan
Mall service to launch in April. Also, we are preparing our English Mall; we will launch it after the Japan Mall service launches. “Our Korea Mall and China Mall
services offer the same brands and products. Japan Mall and English Mall also will have the same brands and items.” Cosmetics generate the lion’s
share of online sales, accounting for more than 50% of Shilla’s total e-commerce business. Fashion & accessories is the second most popular category for online shoppers, with sunglasses among the most sought after products.
Online growth to continue “In our flagship Seoul downtown store, large leather goods account for the majority of our fashion sales,” added the spokesman. “MCM is our top offline fashion brand. “But online fashion sales are
dominated by affordable items like Swarovski and Pandora jewellery, along with sunglasses. “The majority of online sales are
May 2017 20
YEARS 1997-2017
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sales,” the spokesman said. “Cosmetics are bought most often online, while South Korean brands take the majority share of total cosmetics sales.” As an added incentive to shop
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online via the Korea Mall and China Mall websites, Shilla Duty Free now offers internet shoppers an extended duty free shopping service that is not available in its downtown bricks and mortar stores in Seoul and Jeju. “Our online duty free shop has
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about 1,000 brands while our offline stores have about 550 brands,” revealed the spokesman. We are also trying to introduce more trendy and emerging brands which are different to the offline stores which have physical limitations such as display space.
such limitations, so it’s easier to introduce young and emerging brands this way. We have to cater to the shopping needs of young Chinese customers.” Introducing new brands has
become increasingly important with the growth in foreign customers over the past few years, particularly
made through our Seoul downtown store; there are fewer generated by our Jeju downtown store. We have pick-up counters at every international airport in South Korea.” The rising popularity of online
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shopping in many Asian countries suggests that the proportion of Shilla’s online sales will only continue to grow in the coming years. “Online sales are still less than
half of our Seoul downtown store revenue, but sooner or later they will reach about 50% of our flagship store
MAY 2017 The Gentle Monster brand has been introduced to both the Jeju and Seoul downtown stores. TRBUSINESS 107 Shinsegae shoots for $1bn sales target in 2017... p115
Shilla’s flagship downtown store in central Seoul is the company’s largest domestic operation with sales of $1.5bn in 2016; an impressive 28.5% increase over the previous year and representing almost 60% of Shilla’s total domestic duty free revenue.
LAGARDÈRE IN ROME | ACI CONFERENCES’ REVIEW | LOTTE DUTY FREE | DFS GROUP SHILLA | SUNRISE | EVER RICH | CHANGI AIRPORT | SINGAPORE CRUISE CENTRE | CHINA DUTY FREE | INCHEON AIRPORT | HDC SHILLA | HANWHA GALLERIA | SM DUTY FREE WILLIAM GRANT & SONS | PERNOD RICARD | BROWN-FORMAN | BEAM SUNTORY | BACARDI BEAUTY IN ASIA REPORT | COTY’S PHILIPPE MARGUERITTE | PEOPLE NEWS | NOW & THEN
TRBusiness “Online shopping does not have
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