Growing Demand of South Korean Cosmetics

By lunaradmin - Mar 30, 2015      
Etude

Until recently, European and Japanese cosmetics were the most popular among Chinese consumers. However, in the past two years, market researcher Nielsen reported that 60 percent of consumers in China, Hong Kong, Taiwan and Singapore have discovered Korean cosmetic brands. 40 percent of those are planning to go back to purchase more Korean products that are known to be innovative and trendy.  Rather than following big brands and high prices, Chinese consumers have started to focus more on quality and results. Other major influences include Korean music, K-pop and the country’s drama series that are popular throughout Asia. “Our study showed a direct correlation between interest in Korean entertainment and interest in Korean cosmetic brands, particularly among consumers in China,” said Nielson.

This hot beauty market is comprised of big brands such as AmorePacific, Mamonde, Laneige, Sulwhasoo, and Etude House. Leading products include BB cream, tint, and skincare. AmorePacific Corp. stocks more than doubled last year, and on Wednesday, shares increased by 3.2%, to 3,383,000 Korean won ($3,069) – more than eight times its initial listing price in 2006.

 

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