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Korean Beauty Trends & Industry News: 24-07-31


K-Beauty Achieves Record Sales on Amazon Prime Day

    During the 2024 Amazon Prime Day event, K-beauty products achieved record-breaking sales. On July 29th, Amazon Global Selling Korea announced that K-beauty sellers saw a 2.2-fold increase in sales compared to the previous year’s event.

Various K-beauty items were listed as bestsellers in the US, Japan, and Australia stores. Products like Biodance's 'Bio Collagen Real Deep Mask' and Anua's 'Heartleaf Pore Control Cleansing Oil' topped the US store, while VT Cosmetics' 'Cica Daily Soothing Mask' became a bestseller in Japan.

Korean indie beauty brands also showed remarkable performance. Numbers saw a 30-fold increase in daily sales compared to their average daily sales in June. Cheongjo Olive International, which joined this year, experienced a 6-fold increase in daily sales during the event. VT Cosmetics reported a 20-fold increase in daily sales in the US and Japan stores compared to their June average.

Amazon Global Selling Korea provided tailored guides and exclusive promotions to support Korean sellers in preparation for the event, helping them expand their global market reach.

Shin Hwa-sook, head of Amazon Global Selling Korea, stated, “The achievements of K-beauty products on this Prime Day show their immense potential in the global market. This is just the beginning, and we will continue to support the global expansion and growth of K-beauty in collaboration with government agencies, industry associations, and manufacturers.”

In Soo-jin, head of VT Cosmetics, added, “The results from this year’s Prime Day on Amazon US and Japan stores are very encouraging, and we will strive to achieve continuous growth.”

Last month, Amazon Global Selling Korea launched 'Project K-Beauty Go Big' to promote the global sales of Korean beauty brands, aiming to provide comprehensive resources and support.


Prada Beauty Launches in South Korea This August

    Prada Beauty is set to officially launch in the South Korean market this August. Since its establishment in 1913, Prada has driven new trends with its sophisticated sensibilities, intellectual curiosity, and unexpected creativity. Through this launch, Prada aims to redefine the meaning of beauty, presenting a new vision in the beauty industry with its unique restraint, creativity, and technology.

Prada Beauty will showcase a variety of products centered around color, skincare, and fragrance lines. The skincare line includes foundation and face makeup categories, suggesting that face makeup be considered the final step in achieving a natural skin expression. Prada Beauty aims to demonstrate timeless value and continuously evolving beauty through its products.

Prada Fragrances challenge traditional beauty stereotypes and offer fresh and creative ideas, providing users with a wide range of olfactory experiences to explore and express their identities.

Prada Beauty will debut in South Korea with a pop-up store at Shinsegae Gangnam Central City’s Open Stage on the first floor this August. This pop-up store will offer Korean consumers the opportunity to experience Prada Beauty’s philosophy and values firsthand.


Sunscreen Leads in Functional Cosmetics Reviews

    In the first half of 2024, sunscreen was the most reviewed functional cosmetic product. According to data released by the Korea Ministry of Food and Drug Safety’s Evaluation Institute, there were a total of 572 reviews, a 9% increase from 524 reviews in the same period last year.

Among functional cosmetics, sunscreens led with 169 reviews, followed by hair dyes with 143 reviews, triple-function products (whitening, anti-wrinkle, and sunscreen) with 93 reviews, and hair loss relief products with 32 reviews.

Hair dye reviews saw a significant increase from 52 to 143, reflecting consumer demand for a variety of colors and enhanced convenience, which has spurred active development in the related industry.

Of the functional cosmetics reviewed in the first half, 425 were domestically produced (74.3%), down from 844 (89.5%) last year, while imported products increased to 147 (25.7%) from 99 (10.5%).

Seven new functional ingredients were reviewed, including three for anti-wrinkle improvement, one for hair loss relief, one for acne-prone skin relief, one for reducing the appearance of stretch marks, and one hair dye.

A representative from the Ministry of Food and Drug Safety said, “The statistical data on functional cosmetics reviews can serve as foundational data for cosmetics research and development. We plan to continue analyzing and publishing review trends regularly.”

For more details, visit the Ministry of Food and Drug Safety’s website and navigate to the cosmetics policy information and data room sections.


SBDC and Naver Launch 'AI Beauty Marketing School'

    The Small Enterprise and Market Service (SBDC) is partnering with Naver to recruit participants for the 'AI Beauty Marketing School.' This program targets small business owners in the hair salon industry with high growth potential, offering AI-based online marketing education from September to October in Seoul and Busan for five weeks.

Applications are open until 2 PM on August 16. Any hair salon owner using Naver SmartPlace can apply. SBDC and Naver will select 100 participants and announce the final list on August 26.

The 'AI Beauty Marketing School' curriculum will be offered in two formats: Hair Salon I (Seoul) and Hair Salon II (Busan). It will leverage Naver SmartPlace and CLOVA X, an AI service that interacts with users using Naver's proprietary technology and extensive data.

Participants will learn how to use AI to create essential salon texts, such as salon names, service descriptions, and stylist introductions. They will also learn to extract marketing copywriting techniques using AI and generate review responses using AI.

Graduates of the program will receive 300,000 won in advertising credits (Biz Money) for use on Naver Place, and top performers from both the first and second halves of the AI Food/Beauty Marketing School will share a total prize pool of 30 million won.

SBDC Chairman Park Sung-hyo stated, “Education utilizing advanced technologies like AI adds innovation to small business operations and helps discover new business models. We will continue to develop and provide tailored educational programs to support the digital transformation of small businesses.”

To apply, search for 'Small Business 24' on Naver and visit https://sbiz24.kr to follow the application manual. Detailed information on eligibility and required documents can be found on the SBDC website’s announcements section.
Location: 한국

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