CJ Gift Card Surpasses 100 Billion KRW in Cumulative Sales

[Asia Economy Reporter Seungjin Lee] CJ OliveNetworks announced on the 26th that its ‘CJ Gift Card’ has surpassed a cumulative sales amount of 100 billion KRW.

The ‘CJ Gift Card’ is a rechargeable cash card that allows easy payment across various CJ brands and automatic accumulation of CJ ONE points. There are brand-specific cards usable only at individual brands such as Olive Young, CGV, Twosome Place, CJ The Market, as well as the CJ Gift Card which can be used across all brands. The card can be charged with a minimum of 5,000 KRW and a maximum of 500,000 KRW.

Since its launch in June 2017, the card has been available not only at offline stores of CJ brands like Olive Young and CGV but also through various online shopping malls including the CJ ONE app, KakaoTalk Gift, 11st, TMON, and Payco.

As CJ OliveNetworks continuously expanded the sales channels for the ‘CJ Gift Card’, sales exceeded 10 billion KRW in its first year, followed by 28 billion KRW in 2018 and 60 billion KRW in 2019, growing more than double each year. If this trend continues this year, annual sales are expected to approach 100 billion KRW.

Analysis of the usage of the ‘CJ Gift Card’ showed that 90% of general customers purchase it as a gift, while corporate customers mostly use it for promotion gifts and holiday presents. Especially due to the advantage of being able to split usage across about 4,000 online and offline stores as desired, corporate customers responded positively, leading to the recent addition of a CJ Gift Card B2B exclusive ordering system on the CJ ONE website this year.

Analysis of members using the ‘CJ Gift Card’ revealed that the brands with the highest usage rates were Olive Young, Twosome Place, and CJ O Shopping, in that order, and that 80% of usage occurred at offline stores, significantly higher than online usage.

In response to the recent normalization of contactless consumption due to COVID-19, CJ OliveNetworks has not only continuously expanded online shopping channels but also launched over 50 different designs of the ‘CJ Gift Card’ to suit various gifting purposes.

Kim Taehoon, AD Tech Team Leader at CJ OliveNetworks, said, “When registering and using the CJ Gift Card on the CJ ONE app, services such as automatic accumulation of CJ ONE points and automatic amount recharge make it even more convenient to use. We plan to reposition the gift card as a major payment method for customers using CJ brands through future restructuring of gift card benefits.”

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