Amid difficult times for traditional offline retailers, Amorepacific is charting a new course for its operations across many of its most important brands.
The goal is not simply to adapt to the so-called ‘New Normal’, but to embrace it with new and meaningful experiences for consumers.
There is no doubt that the foot traffic in offline stores is falling sharply as more and more consumers find what they need via e-commerce. This long-term trend has accelerated due to the prolonged pandemic, and the beauty industry has not been immune. Many retailers have shuttered branches and shopping centres like Seoul’s Myeongdong district, which has long been a hub for attracting tourists from around the world, are experiencing unprecedented difficulties as tourists have stayed away.
As Korea’s leading beauty conglomerate, Amorepacific has moved quickly to provide differentiated experiences for consumers, seeking to overcome the shock of the crisis with new distribution channels and strategies that embrace a combination of enhanced offline and expanded online approaches, while at the same time pioneering new markets overseas.
In this new approach, the offline environment takes on an added role as an experience platform. More than just for buying products, it’s a place where customers can begin to explore a new world of beauty through new contents and services. Amorepacific’s aim is to create synergy between online and offline environments in creative ways that strengthen brand loyalty while also attracting new customers.
“We know that consumer needs are changing and it’s time for us to embrace new and creative ways to approach them,” said Suh Kyung-bae, Chairman & CEO of Amorepacific Group. “Amorepacific continues to evolve but we will always focus on providing outstanding beauty experiences for our customers.”
