2021-10-21
Is K-Beauty here to stay? According to the data released by the Korea Customs Service and Korea Cosmetic Association, South Korean cosmetics exports climbed 16.1% to reach nearly USD7.6 billion in 2020 despite the pandemic. In addition, latest research forecasts that the market size of K-Beauty will continue to grow at CAGR 9% from 2021 to 2027*.
Susanna Yuen, Exclusive Brands Director of Watsons International, says, “We continue to see that K-Beauty is highly sought after by our Watsons customers even during the pandemic. To meet this surging demand, Watsons has partnered with a number of K-Beauty brands to deliver more choices to beauty lovers across Asia while helping to incubate up and coming brands to expand their penetration. Mise En Scène and COSRX are two outstanding examples that show how Watsons has helped K-Beauty brands enter new markets and build up a strong market position.
“Watsons’ strong O+O (Offline plus Online) platform has effectively helped brands to engage and connect with their target customers anytime, anywhere, in all major markets in Asia.”
Mise En Scène is a total hair cosmetic brand under Amorepacific that offers a diverse range of hair styling products. Its signature hair product, Hello Bubble, was first introduced in Watsons Taiwan in 2018 and exclusively launched in Singapore, Malaysia and Thailand in 2020. It is expected to roll out in Hong Kong soon. Since its launch, Mise En Scène’s Hello Bubble has grown at a CAGR of 90% owing a lot of its success to its partnership with Watsons.
Most recently, Watsons Thailand ran a Hello Bubble x Black Pink campaign to promote its range of hair products on the campaign webpage and social media. It offered tips and ideas on some of the hottest hair color trends. Customers could also access the webpage by scanning QR codes in-store, pick a hair color that best suits them, and “click” to place an order. During the 4-week campaign, Hello Bubble’s brand awareness increased with a sales growth of over 1,000% and became the No. 1 hair colourant in the market.
COSRX is yet another K-Beauty brand that has benefited hugely from its exclusive partnership with Watsons. This skincare brand launched through Watsons in Singapore, Malaysia, Thailand and the Philippines exclusively in 2017, resulting in a CAGR of over 80%. In Singapore, the brand ran a Thank You campaign to thank its customers for their continuous support and love. Using Watsons strong data capabilities, the brand was able to target the right customers and to send them special offers via eDM. Capitalising on Kim Soo Hyun’s popularity, they also gifted Limited Edition postcards of the Korean actor as a free gift upon any purchase in physical and online stores.
*Source: Global K-Beauty Products Market – Opportunities and Forecasts 2021-2027 by Allied Market Research
