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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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The Modamoda Journey: From Safety Controversies to Reinvention

The Meteoric Rise and Subsequent Setback of Modamoda Launched in Korea in 2021, Modamoda Shampoo revolutionized the haircare market with its "self-coloring" formula, achieving billions in both domestic and international sales. But its rapid ascent was interrupted by safety concerns over 1-2-4-THB (1-2-4-trihydroxybenzene), an ingredient restricted by the European Union and scrutinized by food and drug administrations in both Korea and the U.S. due to its potential genotoxic effects. Emerging from the THB Controversy: A Reformulated Approach To navigate the murky waters of regulation, Modamoda returned to the lab. The company designed a new formula excluding THB, focusing on safer ingredients like 'Black Change Complex EX' and 'Polyphenols.' This new formula went through stringent safety verification and even secured an 'Excellent' rating from the German Dermatest.  Yet, the new formula has ignited fresh debates, as it includes 'Black 401,' a sy...
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