According to a Wednesday statement by CJ OliveNetworks, which runs the country’s major cosmetics store chain Olive Young, new products within three months of their release accounted for 40 percent of the top 50 most sold products at the chain’s offline stores during the company’s end of summer sale from the end of August to September 4. (Image: Olive Young)
SEOUL, Sept. 7 (Korea Bizwire) — South Korean consumers prefer to buy new cosmetics products at offline stores, while bestselling products are most often sold online, a new market report has revealed.
According to a Wednesday statement by CJ OliveNetworks, which runs the country’s major cosmetics store chain Olive Young, new products within three months of their release accounted for 40 percent of the top 50 most sold products at the chain’s offline stores during the company’s end of summer sale from the end of August to September 4.
Considering the fact that newly released cosmetics products only accounted for 14 percent of the top 50 most popular items sold online, the report found a stark difference between both online and offline consumption trends.
In contrast, bestsellers, which have been branded as safe choices thanks to positive reviews and higher ratings, dominated the online sales chart.
Olive Young says the findings are reflective of the widely shared sentiment that despite the growing online market, many consumers still like to experience and try new products in person when it comes to cosmetics.
When broken down by product categories, consumers tend to buy makeup at offline stores more often, as more shoppers are likely to make a bolder choice after trying an item out in person to see whether it suits them or not, while more skincare products were sold online, which is a safer bet, as many purchasers tend to buy similar products multiple times.
Young people in particular, who are sensitive to trends, are more likely make trips to offline stores to try on makeup before making a purchase, while loyal fans of skincare products of certain brands tend to just buy them in bigger sizes online, according to the report.
During the sale at Olive Young, consumers spent nearly 2.5 times more online on average compared to their offline counterparts, as many of the online consumers surveyed tend to buy set products consisting of multiple items rather than a single product.
“Considering the different shopping patterns and the most popular items between offline and online shopping, we are going to maximize the perks of both methods of shopping by introducing an experience zone for offline stores and presenting information about bestsellers more concisely on our website,” an Olive Young official said.
Ashley Song (ashley@koreabizwire.com)
