Bargain deals top beauty sales while premium products continue strong growth

[Source : CJ Olive Young]

As inflation stays high, consumers look for ways to control their budgets but the desire to own a premium product remains unchanged. This contradiction has emerged in Korea’s cosmetics and personal care market.

A two-for-one sale campaign works out well for the sector with cheap products dominating the best-selling list of cosmetics this year, but high-end brands also maintained their hot growth streak.

According to data released Tuesday by CJ Olive Young, the largest health and beauty store chain in Korea, products sold with discounts or in bundle, such as ‘buy one, get one free’, made up 60 percent of the brand’s top 100 ranking by sales this year through November.

Dr. G Red Blemish Soothing Cream [Source : Dr. G]

Among the top sellers was Dr. G Red Blemish Soothing Cream special package comprised of 70ml and 30ml tubes of the skin care product.

Consumers hunted for bargain deals but at the same time increased their purchase of luxury brand cosmetics at the beauty retailer.

CJ Olive Young said its high-end cosmetics sales from January to November this year jumped 38 percent from the same period last year. Clinique, Moroccan Oil, and Urban Decay that have been sold mostly in department stores recently joined the shelves at CJ Olive Young to make the retailer’s top sales list.