Dynamic Korean Wave

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In 2013, the Korean beauty market has shown strong growth by 9.1% increase from the last year and its ability to respond quickly to consumer demand through new ingredients and innovative technologies. …

In 2013, the Korean beauty market has shown strong growth by 9.1% increase from the last year and its ability to respond quickly to consumer demand through new ingredients and innovative technologies. They have improved their distribution system and restructured the management of their sales channels from traditional stores into specialist retailers for customer convenience and competitive pricing.

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  • 1. The Dynamic Korean Wave
  • 2. 1. BUYING PATTERNS AND SHIFTING TRENDS
  • 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 Korea’s 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
  • 7. 2. Domestic Cosmetic brands Growth
  • 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.
  • 10. 3. THE RISE OF K-POP WAVE
  • 11. Korean cosmetics have become so popular outside of Korea.
  • 12. MISSHA VS. ESTee LAUDER
  • 13. 200,000 BOTTLES IN 2 MONTHS
  • 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
  • 15. MISSHA PROFIT Million 300 250 200 150 100 50 2004 2006 2008 2010 2012
  • 16. MISSHA'S Success strategy Satisfying quality competitive pricing Aggressive introduction of Prosumer Celebrity Ad campaign
  • 17. The Dynamic Korean Wave