TFWA ASIA PACIFIC 2017 DEBUT
ADVERTORIAL World No.1 Ginseng Brand Power, CheongKwanJang
World No.1 Ginseng brand* CheongKwanJang is the trusted choice for Chinese tourists having emerged as a new engine of growth in the travel retail industry by recording 20% CAGR in revenue over the last seven years in Korean travel retail (which is viewed as the global test bed). If you are looking for a new engine of growth that will lead the travel retail industry at the 2017 TFWA Asia Pacific Exhibition, KGC’s CheongKwanJang brand will be the answer.
T
he supplement category that has yet to be recognized by the travel retail industry is a ‘Blue Ocean’ in which new growth is expected.
The global supplement market size in 2016 was US$94bn, recording more than 6% of high growth rate annually as the interest in health has been increased globally.
For example, the growth of the Korean travel retail industry, which was no. 1 in the world generating US$10.6bn in 2016, has tripled in the past seven years. The main reason for this remarkable growth is due to it competing fiercely while also setting the trend by figuring out the demands of Chinese tourists. There is a brand in the supplement
sector that recorded triple growth over the same period in Korean travel retail: it is CheongKwanJang, the world no. 1 Ginseng brand*, which takes a 2.5% market share of the Korean travel retail industry. In 2016, CheongKwanJang was ranked
second (US$77m) in terms of brand revenue at Incheon International Airport Duty Free Shops. It has shown its reputation as the brand that truly leads the Korean travel retail industry with a monthly sales volume of US$6.42m. Interestingly, 38% of the Korean travel
retail channel’s revenue comes from foreign tourism; mainly Chinese travellers and tourists from Japan, Southeast Asia and the USA, but this clearly demonstrates the growth potential in the global market. Likewise, CheongKwanJang is in the
limelight as the newly emerged ‘Blue Ocean’ of the travel retail industry thanks to a continuous growth trend, and increased demands in the global supplement market, which it dominates as the world no. 1 Ginseng brand* fuelled by the extended influence of Chinese tourists who show high preference on Korean Red Ginseng. Further trust and credibility comes from the
| 국문
fact that CheongKwanJang, a unique company generating in excess of US $897m in revenue among Korean supplement companies, has maintained the traditions and standards of the highest-quality Korean Red Ginseng for 118 years and exported products to more than 40
| 영문 * based on 2007-2016 Euromonitor data. | 중문_간체
Left: ‘Korean Red Ginseng Plus series’: The new product line come in six types of products, fitting into each age group with the concept of ‘Family Care’. Right: Good Grade 15ji(Roots); a best-selling product for CheongKwanJang.
countries in the world like China, USA, Japan and Taiwan. Since its foundation KGC has abided
by the same principle of using a careful manufacturing process based on the artisan spirit which has made CheongKwanJang the world No.1 Ginseng brand*. All CheongKwanJang products are made under strict quality control: from the land management to the production of the end-product, a total of 290 safety tests are conducted, over 7 stages.
CheongKwanJang’s Global Travel Retail domination strategy at the TFWA Asia Pacific Exhibition With CheongKwanJang, KGC has pursued the creation of the supplement category and prepared its strategy to target the global travel retail industry. Through its debut at the 2017 TFWA
Asia Pacific Exhibition, CheongKwanJang is planning to dominate the global market in the category, not only by strengthening its global business in the Asia-pacific region based on
출처 | Euromonitor International Limited, 비타민 및 건강 기능식품 카테고리 ; 2007 -2016년 소매 매출액점유율 %, CH2017 판
Chinese tourists, but also by developing new demands while checking the possibility of making inroads into other new countries in Asia and the Middle East region. At TFWA Asia Pacific 2017, CheongKwanJang
is set to unveil new strategic products, specifically launched for the global travel retail industry, in front of key industry executives. Soon-hyung Lee, Managing Director of
KGC Global Headquarters explained that “CheongKwanJang’s new product line, ‘Korean Red Ginseng Plus series’ consists of six kinds of product with the concept of ‘Family care’ that considers the needs of health management, and also the wide age group of the consumers who visit duty free shops around the globe. Therefore, it is equipped with the
customized function by age groups. With the base of Korean Red Ginseng that approved the efficacy of improving immunity and anti-oxidation, it is mixed with functional ingredients that have been spotlighted in the global supplement market. It is expected to be loved by duty free shop customers as a gift for parents, children or a spouse.” ¢
Source | Euromonitor International Limited, Vitamins and Dietary Supplement category; % retail value share, 2007-2016 data. CH2017 edition
For further information about how CheongKwangJang can grow your business, please contact: Name : Rian HS Lee Email :
rainmaker@kgc.co.kr Tel : +82 2 2189 6568
www.globalkgc.com /
www.kgcus.com
Visit us at TFWA Asia Pacific: Basement 2, stand D2
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