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Korean Beauty Trends & Industry News: 24-07-03

The K-Beauty Revolution Conquering the Global Beauty Market      Korean beauty products, known as K-Beauty, are rapidly rising in the global beauty market. By the end of last year, the number of cosmetic companies in Korea exceeded 31,524, tripling from 10,000 in 2017 in just six years. In the first half of this year alone, K-Beauty exports reached $4.81 billion, an increase of 17.8% from the previous year, making it one of the fastest-growing sectors, behind only semiconductors, computers, and ships. The key to K-Beauty's success lies in its rapid innovation and diverse product range. A recent example is American beauty influencer Darsie, who praised the K-Beauty brand Tirtir's dark-tone cushion foundation. Her positive review garnered over 38.8 million views and more than 10,000 comments, boosting Tirtir's new product to the top of Amazon's beauty category in the U.S. upon release. K-Beauty's strength in the global market is its quick product innovation. Japanese ...
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Korean Beauty Trends & Industry News: 24-12-20

Korean Convenience Stores Enter the Affordable Beauty Market      Korean convenience stores are now competing aggressively in the affordable beauty market, targeting younger consumers in their teens and twenties with skincare products priced around 3,000 KRW (about $2.50). These products emphasize small, travel-friendly sizes, practical use, and budget-friendly pricing, making them particularly appealing to younger shoppers. GS25 recently launched six affordable beauty products, including the "Scinic Moist Tone-Up Sun Cream," priced at 3,000 KRW for six individually packaged 2mL units. Earlier this year, GS25 introduced 700 KRW sheet masks and 1,000 KRW moisture pads, doubling its skincare offerings from 10 products last year to 20 in 2024. Similarly, CU launched three affordable skincare products in September, selling 30,000 units in just three months. CU's lineup has expanded to include skin-repairing ampoules and hand creams. Even Seven-Eleven has joined the trend with...
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Korean Beauty Trends & Industry News: 23-12-18

Intensifying Competition in Cosmetics Delivery: CJ Olive Young, Coupang, Daiso in the Fray In the dynamic world of Korean beauty, CJ Olive Young, Coupang, and Daiso have plunged into a competitive race for cosmetics delivery.  CJ Olive Young's same-day service, "Delivers Today," has seen a 70% increase in usage this year compared to the last. In Seoul, over half of the online orders are delivered through this rapid service.  This company was the first in the cosmetics industry to introduce instant delivery, ensuring swift dispatch directly from stores near the delivery address through their mobile app and online mall. With over 1,300 CJ Olive Young stores nationwide, 80% of which stock indie cosmetics brands, orders made before 8 PM are delivered within 3 hours, averaging around 45 minutes. The company is also expanding its urban logistics centers (MFC) to metropolitan areas next year. Meanwhile, Coupang is focusing on delivering premium authentic cosmetics. In July, they...
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