The cosmetics market is also shifting to focus on cost-effectiveness.
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Competition between practical brands in the entire range of hair, skin care, and coloring
[이코노믹데일리] As prices rise, consumers look for ‘good quality at a reasonable price.’ According to the National Statistical Office, the Consumer Price Index (CPI) in September this year rose 2.1% compared to the previous year.
Accordingly, ‘cost-effectiveness’ has emerged as a key keyword in the beauty market. as consumers’ wallets become tighter, there is a clear tendency to choose cosmetics based on ‘satisfaction relative to price’.
According to related industries on the 10th, the industry is also accelerating change in line with this trend. Breaking away from the conventional market structure centered on high prices, ‘practical’ brands with innovative product capabilities and price competitiveness are leading new trends.
Modamoda, which attracted attention as Korea’s frist gray hair care shampoo, is continuing its cost-effective innovation with its hair loss care line ‘Blue Biotin Scalp’. This product line was released exclusively for Daiso,and all 7 products,including shampoo,treatment,scalp scaler,bubble mask,and ampoule,are priced under 5,000 won. Compared to commercial hair loss care products (30,000 to 50,000 won), it is indeed one-tenth of the price.
The representative product ‘Scalp Gargle Scaler’ is designed to easily remove dead skin cells and sebum by introducing a brush-integrated container and foam formulation. In addition, ‘Scalp Shampoo’ contains 100,000ppm of German brewer’s yeast and high-purity biotin, and ‘2000 Shot Scalp Ampoule’ uses proprietary ‘deep injection’ technology to ensure that the active ingredients are absorbed deep into the scalp.
All products have obtained functional certification from the Ministry of Food and Drug Safety, establishing itself as a representative brand of ‘cost-effective hair loss care’. In fact, it was reordered more than 10 times in Daiso stores nationwide, and ranked first in the daily and weekly beauty category in Daiso’s online mall.
Musinsa standard Beauty joined the practical consumption trend by introducing an ultra-low-priced base
SCINIC Expands Affordable Men’s Skincare with Daiso Exclusive ‘Power Homme’ Line
11th Street’s beauty brand, SCINIC, is bolstering its presence in the ultra-low-price beauty market with the launch of an exclusive men’s cosmetics line, ‘Power homme,’ available at Daiso. Priced between 3,000 and 5,000 Korean Won (approximately $2.30 – $3.85 USD as of November 16, 2023), the line consists of five products designed for accessible skincare: three all-in-one fluids, a cleansing foam, and a lip balm.https://www.ajunews.com/news/view/20251110093359175200
This launch underscores a growing trend in the beauty industry where cost-effectiveness is becoming a key driver of brand loyalty, especially during economic downturns.
SCINIC’s ‘Power Homme’ Product Lineup
The ‘Power homme’ line features the following products:
* All-in-One Fluids (Hydro Firming, Cica Soothing, Vita Tone Up): These multi-functional products combine the benefits of skin, lotion, and essence in a single step, simplifying skincare routines.
* Cleansing Foam: designed for both facial cleansing and shaving, offering versatility and convenience.
* Lip Balm: Formulated to provide a natural tint that adapts to individual skin tones, making it an approachable entry point for men into skincare.
Expanding Reach Through Strategic partnerships
SCINIC is strategically expanding its market share through partnerships with popular retailers like GS25, Daiso, and Olive Young. This multi-channel approach allows the brand to reach a wider consumer base and solidify its position in the competitive beauty landscape.
The Rise of ‘Cost-Effectiveness’ in K-Beauty
Industry experts suggest that consumers are increasingly prioritizing value for money, viewing it as a crucial indicator of brand strength. This shift signifies a move beyond simple price competition, demanding brands to deliver both affordability and demonstrable quality. https://www.ajunews.com/news/view/20251110093359175200
The emphasis on cost-effective products is also seen as a strategy to enhance the global competitiveness of K-beauty (Korean beauty) – renowned for its innovative formulations and high-quality ingredients. By combining advanced technology with accessible pricing, K-beauty brands like SCINIC are poised to attract a broader international audience.
Looking Ahead: The Future of Affordable Beauty
Brands that successfully integrate price efficiency with quality-focused technology are expected to thrive in both domestic and international markets. The demand for accessible, effective skincare solutions is highly likely to continue growing, making the ultra-low-price segment a key area of innovation and competition within the beauty industry.
Date of Details Verification: November 16, 2023. Exchange rate used: 1 USD = 1300 KRW (approximate as of this date).
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