[2020 Asia Consumer Awards] Honor of 6 Grand Prizes in 44 Categories

[Asia Economy Reporter Lim Hye-seon] The domestic distribution industry is going through a turbulent period. With the delay in domestic demand recovery, the growth rate of wholesale, retail, and accommodation industries last year was 1.1%, the lowest in five years. Due to the triple challenges of economic downturn, intensified online competition, and strengthened regulations, distribution companies are expected to struggle again this year.

Even in difficult times, the 'absolute unchanging principle' is consumer trust. Last year, distribution companies made efforts to overcome the crisis through a 'direct approach' that enhances consumer satisfaction, such as large-scale investments and quality improvements. They focused on providing good products at affordable prices, enabling convenient shopping and timely delivery, as well as emphasizing win-win management and social contribution. Food companies developed innovative products to target consumers' tastes by seeking new flavors.

The companies awarded at the 14th Asia Consumer Awards earned consumer trust amid the slump in domestic demand. About 150 brands competed through consumer surveys and rigorous judging panels, winning honors in a total of 48 categories and 6 grand awards. Despite the difficulties in the distribution industry, they demonstrated strong brand power. Lotte Duty Free, which received the Minister of Trade, Industry and Energy Award, has maintained its position as Asia's No. 1 and the world's No. 2 for the past three years. Operating 8 domestic and 13 overseas stores as well as an online duty-free shop, it contributed to the development of the tourism industry. Over the past year, Lotte Duty Free utilized the largest VIP lounge in Korea, the Star Lounge, to hold various brand collaboration events exclusively for its domestic and international customers. Additionally, it became the first in the domestic distribution, service, and duty-free sectors to obtain the Information Security Management System-Personal Information Protection (ISMS-P) certification, recognizing its customer information protection and service stability in both online services and offline store operations.

Amorepacific’s 'Sulwhasoo,' which received the Minister of Health and Welfare Award, promoted 'Korean beauty' in the global cosmetics market as a high-end cosmetics line. Paris Croissant’s 'Paris Baguette' also led the bakery industry through continuous innovation such as differentiated product development and quality enhancement. Notably, the 'Pure Milk Cake' launched last year, which excluded all decorations and designs and focused solely on taste and quality, achieved sales 5 to 6 times higher than typical cakes, representing a paradigm shift. CJ CheilJedang’s 'Bibigo Juk' and Ottogi’s 'X.O. Mandu,' which received the Minister of Food and Drug Safety Award and the Food Industry Association President Award respectively, captivated consumers’ tastes last year. LG Household & Health Care’s Nature Collection, which received a special award, was highly evaluated for leading the cosmetics select shop market.

This content was produced with the assistance of AI translation services.