SEOUL, Feb. 27 (Korea Bizwire) – In the wake of the spread of the novel coronavirus outbreak, a growing number of people are buying clothes online. On the other hand, the cosmetics industry, which has suspended face-to-face services such as makeup demonstrations, is suffering from a sharp drop in sales. An online mall Handsome.com run [...]
SEOUL, Dec. 17 (Korea Bizwire) — China was the biggest buyer of South Korean beauty products last year, accounting for more than 60 percent, a report showed Tuesday. The report compiled by the Korea International Trade Association (KITA) showed that 65.6 percent of outbound shipments of locally made cosmetics products headed to China, Hong Kong [...]
SEOUL, Dec. 12 (Korea Bizwire) — Japan is threatening to overtake South Korea’s No. 1 status in China’s imported cosmetics market this year, industry data showed Thursday, mainly on the back of the growing popularity of low- to mid-priced “J-beauty” products. Japanese companies accounted for 25.2 percent of China’s imported cosmetics in the January-October period, [...]
SEOUL, Dec. 6 (Korea Bizwire) — As more Chinese consumers are taking an interest in the components contained in cosmetic products, South Korean cosmetic brands are infiltrating the Chinese market using their reputation for using ‘good recipes’. Venndata, a Chinese market research agency, reported that 45 percent of Chinese consumers were found to purchase cosmetics [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea aims to become the third-largest cosmetics exporter in the world by 2022 through extensive investment in research and development (R&D) and concerted marketing efforts, the government said Thursday. The country’s makeup products are globally competitive, with growth buoyed by popularity of the Korean Wave and the growing [...]
SEOUL, Oct. 15 (Korea Bizwire) — South Korea said Tuesday that it will hold a cosmetics road show in Dubai this week to help boost exports of cosmetic products by capitalizing on the rising popularity of the Korean wave of popular culture. The K-cosmetics show, the first of its kind this year, will be held [...]
SEOUL, Oct. 10 (Korea Bizwire) — Foreign consumers online picked K-Beauty products, such as cosmetics and perfume, as their preferred items to buy when they visit South Korea. The Korea International Trade Association (KITA) conducted a survey of 460 foreign consumers using Kmall24, an online shopping mall for foreigners run by the agency. Among the [...]
SEOUL, Oct. 1 (Korea Bizwire) — In addition to functional and safe ingredients, new trends are emerging in the cosmetics market, which was dominated by a focus on high-end image and price competitiveness. According to the cosmetics industry, “period beauty” products, which take into account women’s menstrual cycles, have recently been released in succession, with [...]
SEOUL, Oct. 1 (Korea Bizwire) — South Korea’s trade surplus in beauty products hit an all-time high last year on the back of strong demand from China and other Asian countries, government data showed Tuesday. Outbound shipments of cosmetics stood at 6.89 trillion won last year, up 23.3 percent on-year, while imports grew 6.8 percent [...]
SEOUL, Sept. 16 (Korea Bizwire) – Online transactions of cosmetics are expanding as the entire distribution industry is increasingly leaning towards online platforms in South Korea. Statistics Korea and the cosmetics industry reported that online transactions of cosmetics products reached 6.6 trillion won (US$5.6 billion) between January and July, up 20 percent since last year. Cosmetics sales [...]