CheongKwanJang (Korean Red Ginseng) will highlight two travel retail-exclusive lines at the upcoming TFWA Asia Pacific Exhibition (Basement 2 D2).
Both products target gifting and underline the Korean Ginseng Company’s ongoing efforts to elevate health and wellness as a strategic category in travel retail. Korean Ginseng said it is leading a “healthy wave” and emphasised the need for products which meet changing industry and customer demands.
“CheonKwanJang has analysed travellers’ needs for a special gift and launched products that both satisfy and set the trend for customers,” Korean Ginseng stated.
Korean Red Ginseng with Pomegrante Royal, which is said to address women’s health problems, and water-soluble Korean Red Ginseng Extract Everytime Royal are presented in boxes containing easy-to-use sticks/pouches.
Both products will be available in global travel retail at the end of December.
Korean Ginseng noted that its sets are proving increasingly popular with international, and in particular Chinese, travellers. Sales in 2018 exceeded expectations: 715,000 sets, worth US$30 million, sold in Korean duty free stores. Over the past three years Korean Ginseng has achieved an annual average sales growth of 15.3%, with US$353 million in duty free sales in 2018, the company added.
It operates 26 stores, boutiques and shop-in-shops in South Korea. A boutique opening at Incheon Terminal 2 last year was followed by new spaces in airport stores in Kansai (Japan), Jakarta (Indonesia), Na Dang and Nha Trang (Vietnam) with Lotte Duty Free. As reported, Korean Red Ginseng products are featured with The Shilla Duty Free at Gimpo International Airport.
According to a Euromonitor report, the worldwide ginseng retail market was valued at about US$2,236 million in 2018.
At the TFWA Asia Pacific Exhibition Korean Ginseng will reveal a new booth which is designed to emphasise its premium image. The brand is a Chill-Out Party sponsor and will offer ginseng-infused cocktails and drinks, and offer photo opportunities, at the event at the Mandarin Oriental Hotel on 14 May.
