The Global Shopping Season Approaches: Retailers Target Cross-Border E-Commerce Export Shoppers

[Financial News] As the cross-border e-commerce export market—where overseas consumers purchase Korean products online—continues its rapid growth and is set to reach a record high this year, domestic retailers are gearing up for November. Demand for K-products is expected to surge during major shopping events such as the U.S. Black Friday and China’s Singles’ Day.
According to industry sources on the 27th, Gmarket will host 'Big Smile Day' from November 1 to 11 on its Global Shop (English and Chinese versions). During this event, Gmarket plans to prominently feature K-beauty products, including popular hair and body care items favored by overseas customers. In partnership with Alibaba Group Holding Limited, Gmarket currently sells products in five Southeast Asian countries—Singapore, Malaysia, Thailand, the Philippines, and Vietnam—through Lazada, an Alibaba affiliate platform. Gmarket also intends to participate in Lazada’s November shopping festival.
CJ Olive Young Corporation will hold a Black Friday event next month on OLIVE YOUNG Global. In English-speaking countries, the event will run from November 24 to 29, while in Japan, it will take place from November 10 to 16. The company will offer region-specific products and launch promotional giveaways tailored to each market.
MUSINSA will hold its 'Monster Sale' in the middle of next month on its global store, offering special deals on various products. The transaction volume for last November’s Monster Sale continued to grow, raising expectations for this year’s event.
W Concept, an online platform under Shinsegae, will host 'W Week' on OLIVE YOUNG Global from October 30 to November 16, showcasing outerwear and knitwear. From November 17 to December 1, the company will hold its largest event of the year in line with Black Friday and Cyber Monday (BFCM), offering up to 90% off on products from over 100 popular brands for a limited time.
A representative from W Concept stated, "In the U.S., the period from Thanksgiving to the Christmas holidays is considered the peak shopping season. We plan to meet local demand by promoting K-Fashion and beauty brands."
The retail industry anticipates that sales will further increase in November, when global shopping demand peaks. Typically, cross-border e-commerce export sales are concentrated during the year-end shopping season. It is known that more than half of the annual sales in this sector occur in November and December.
Last year, the domestic cross-border e-commerce export market was estimated at over 4 trillion won (approximately $2.9 billion), and industry sources believe it has already surpassed this figure in 2024. The rapid growth of K-beauty, K-food, and K-content has fueled this trend, with K-beauty (cosmetics and perfumes) accounting for over 33% of all cross-border e-commerce export transactions last year. The value of cross-border e-commerce exports for cosmetics, which was only $55 million in 2019, soared to $1 billion (about 1.4 trillion won) in 2024.
wonder@fnnews.com Jung Sang-hee Reporter