Cosmetics Online Transaction Volume Surpasses 12 Trillion Won... "Mobile Share at 60%"

[Asia Economy Reporter Yujin Cho] The transaction amount of cosmetics online shopping surpassed 10 trillion won for the first time last year.

According to Statistics Korea on the 6th, the transaction amount of cosmetics online shopping last year was 12.2986 trillion won, a 25.0% increase compared to the previous year (9.8404 trillion won).

In March last year alone, the transaction amount exceeded 1 trillion won on a monthly basis, reaching 1.0198 trillion won, and showed an average high growth rate of 20% compared to the same month of the previous year every month.

Among the proportions of online shopping transaction amounts by product category, cosmetics ranked fifth with 9.1%, following travel and transportation services (12.6%), clothing (11.0%), home appliances, electronics, and communication devices (10.7%), and food and beverages (9.9%).

In particular, mobile shopping transaction amount showed remarkable growth, reaching 7.3114 trillion won, a 32.6% increase compared to the previous year. The proportion of cosmetics mobile shopping transaction amount in the total cosmetics online shopping transaction amount recorded about 60%.

The main factors behind the growth of the cosmetics online market include changes in consumer patterns and the growth of online duty-free channels.

Power influencers on Instagram and YouTube have continuously launched cosmetics brands through online channels, and large corporations have led changes in consumer trends by expanding viral marketing through social network services (SNS).

Riding this trend, the number of experiential stores that encourage customers to purchase products online immediately after trying them in offline stores has increased, expanding the overall market size.

A cosmetics industry official said, "Cosmetics are a product category where viral marketing is highly effective," adding, "Even if consumers do not try the products themselves, recommendations from acquaintances or word of mouth are increasingly leading to purchase decisions."

This content was produced with the assistance of AI translation services.