[2020 Asia Consumer Awards] 'Healthy Beauty' Olive Young, Continuing Win-Win with SMEs

[Asia Economy Reporter Cha Min-young] Olive Young, which celebrated its 20th anniversary last year, has newly established its brand system with "Healthy Beauty" as the core keyword. It is also strengthening its differentiated identity by introducing a new logo and store design. Accordingly, this year, Olive Young plans to provide differentiated experiences in offline stores through optimized merchandise planning (MD) tailored to each commercial district, while maximizing convenience services on its online mall. The company will actively pursue an O2O (online/offline linkage) strategy to enhance synergy between channels.

In particular, Olive Young is committed to leading win-win cooperation with small and medium-sized enterprises (SMEs). Currently, SMEs and startups account for 80% of the brands housed in Olive Young, making it a "gateway" for these businesses. The company is also running the "Joyful Partnership" program to actively discover promising SMEs. As of the end of October last year, 61 companies were discovered, handling over 500 products.

Efforts to improve the quality of consumer services are also being intensified. Olive Young developed its own service satisfaction measurement method called "OSQI (Olive Young Service Quality Index)" and conducts evaluations annually. Additionally, it publishes and shares a service casebook to disseminate and learn from excellent service examples.

Thanks to these achievements, Olive Young was selected as the No. 1 company in the Health & Beauty Specialty Store category for three consecutive years in the "2019 National Customer Satisfaction Index (NCSI)" organized by the Korea Productivity Center. It also ranked first in the Health & Beauty Store category in the "Korea Consumer Satisfaction Evaluation (KCSE)" hosted by the Korea Consumer Evaluation and the "Korea Customer Satisfaction Index (KCSI)" by the Korea Management Association Consulting.

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