Dynamic Korean Wave
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The document discusses current trends in the Korean cosmetics market, highlighting the shift towards 'masstige' products and the growing influence of media like the 'Get It Beauty' program. It notes the rapid growth of domestic brands, which often offer similar products at lower prices, and the global rise in popularity of Korean cosmetics, partly fueled by the K-pop wave. Key insights include the importance of direct selling for premium products and the competitive landscape featuring brands like Missha, Est辿e Lauder, and others.
Dynamic Korean Wave
- 3. there is a growing trend towards so-called masstige IN SKINCARE SEGMENT.
- 4. Get it beauty TV program became one of the most influential forces in Koreas 7-trillion-won cosmetics market.
- 5. HOME SHOPPING CHANNEL AND BEAUTY SPECIALIST RETAILERS ARE BECOMING INCREASINGLY IMPORTANT FOR COSMETIC BRANDS.
- 6. the direct selling channel will be more effective FOR super premium products
- 8. domestic cosmetic brands tend to quickly introduce new products with similar functionality or ingredients at a much lower price.
- 9. Myung-dong is one of the most famous fashion streets, which contains over 100 DOMESTIC beauty specialist retailers.
- 14. Top 7 BEAUTY BRANDS IN KOREA Chinese RANK JAPANESE Sulwhasoo 1 ETUDE HOUSE MISSHA 2 Tony Moly INNISFREE 3 MISSHA ETUDE HOUSE 4 The Face Shop The Face Shop 5 Nature Republic ESTEE LAUDER 6 CHNAEL Tony Moly 7 INNISFREE source: LOTTE DEPARTMENT STORE
- 16. MISSHA'S Success strategy Satisfying quality competitive pricing Aggressive introduction of Prosumer Celebrity Ad campaign