FedEx partners with NielsenIQ for South Korean firms entering US K-beauty market

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FedEx partners with NielsenIQ for South Korean firms entering US K-beauty market

Policy

John A. Smith FedEx Express Leadership President and Chief Executive Officer U.S. & Canada Ground Operations | FedEx

By Sky Industry News

Oct 22, 2024

FedEx is collaborating with NielsenIQ to support South Korean companies entering the U.S. K-beauty market. On October 29, they will host a webinar focused on strategies for navigating this rapidly growing sector. The event aims to provide insights into market trends, consumer behavior, and effective entry strategies for the U.S. beauty market.

Participants will receive updates on export customs procedures and expert advice on improving operational efficiency and customer experience through suitable e-commerce solutions and systems. This guidance is intended to help companies expand their influence in the fast-growing industry.

The webinar is free and will be streamed online via a Zoom link. Registered participants can win Starbucks coupons, while those who complete a post-webinar survey may receive FedEx office kits or desk mats. Additionally, businesses using NIQ services after attending the webinar will receive discounts on reports about the North American beauty market and U.S. e-commerce syndication.

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FedEx Korea Managing Director Park Won-bin stated, "FedEx is committed to helping local companies grow in global markets." He noted that as K-culture gains popularity worldwide, the K-beauty market is also experiencing rapid growth globally. "In 2023, the K-beauty market size reached $6.57 billion and is expected to grow to $9.05 billion by 2029," he added.

Kang Kyung-ran from NIQ highlighted that awareness of K-beauty among U.S. consumers has reached 50%, emphasizing the importance of understanding consumer preferences for success in this expanding market.

A FedEx representative mentioned that trade between Asia and America drives economic growth globally, with South Korea being a significant partner for exports like semiconductors, automobiles, and K-beauty products to the U.S., which is Korea's second-largest export destination.

FedEx continues to enhance its e-commerce solutions with offerings such as FedEx International Connect Plus and other integrated B2B marketplace programs providing customized delivery options and tracking services like FedEx Delivery Manager International.