Korean Magnificence Market Research
The mainstream cosmetics business is embracing Ok-Beauty. Consultants see it as more than a fad. Korea’s cosmetics sales are up by more than 50 percent over 2014 figures. US corporations like Bain Capital Equity and Goldman Sachs are getting a slice of the pie. Both corporations introduced they would purchase a majority stake in a major Korean beauty firm. Additionally, Amway has constructed its Beauty Innovation Heart in Seoul.
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Consumers in Korea need solutions that target their particular needs. Whereas they're open to trying new products, there's a rising demand to have the ability to customize magnificence merchandise in all categories. Subsequently, consumers in Korea wish to be involved in the merchandise they buy. For example, there are actually skincare brands in Korea that provide tailor-made skincare merchandise by analyzing their prospects utilizing an app. The app by AMOREPACIFIC can measure the consumer’s facial dimensions, generate a pores and skin prognosis, and sends the knowledge to a special 3D printer which might then print a hydrogel facial mask that's tailor-made for the patron. The printing takes less than 5 minutes.
Whereas Escape the Corset strengthens its place in the public consciousness, many other girls in South Korea are adopting the practice of Skip-Care, the place the traditional multi-step skincare regime is abandoned in favour of a less complicated, extra pared-again routine. Hwa Jun Lee, senior magnificence and personal care analyst at Mintel, says, "Skip-Care is a rising pattern among magnificence minimalists in South Korea. In essence, a backlash in opposition to complex magnificence routines that are common in K-Magnificence."