What is the latest shopping trend via online platforms in China? It would seem that Korean makeup is tending to take over the numerous platforms that are available for Chinese shoppers. Actually, Korea is ranking second in Chinese market for makeup purchased, coming in second to France.
The surprising aspect of the Korean makeup on the Chinese online shopping platforms is the amount of makeup that has been sold in the past year compared to previous years. From January of 2015 to July of 2015, Korean brands have sold nearly 371 million dollars of products to the Chinese market. This is an increase of around 251% compared to last year. The leading French manufacturers saw growth of only 6% in the last year.
In addition, prior to this recent knowledge, Korea was not even among the top three makeup sellers in the Chinese market. These makeup sellers have surpassed Japan and the United States, who were the second and third place holders in the market. Korean makeup companies are now making up a total of 22% of the market!
Why the Sudden Interest in Korean Makeup
Why are more and more Chinese shoppers looking to makeup that is manufactured by Korea? They are all about the Hallyu, or the Korean Wave of makeup, that are being referred to as K-beauty products. What makes these products so great? They are tending to be catered to the Asian skin, whereas as other sellers in the US or France are not spending as much time thinking about the Asian skin and their specific needs, even though their products may be great.
According to Song Ja-eun, a Manager with the Korea Cosmetic Association:
“Chinese consumers use a lot of hydrating products and Korean cosmetics have global competitiveness in that field. We’re continuing to develop trendy products that cater to Asian skin.”
So how do these Korean makeup companies want to ensure they are maintaining this high level of success within the Chinese market? They are opening up more stores via Chinese online shopping platforms, and they are looking at multiple marketing strategies in China to use.
Find out how social media can be a great marketing strategy, here