#KEYWORD 4 – The most-loved brand by well-groomed MZ men: innisfree

1. Anti-breakout ampoule with over 2.5 million units sold

As briefly mentioned earlier, the grooming market is thriving, with even men in their 40s and 60s dedicating efforts to skincare. According to Euromonitor market research, the size of the men's cosmetics market in South Korea this year is around 1.1 trillion won, showing a 4% increase compared with the previous year. The highly growing male-grooming market has been gradually diversified from its initial simple and standardized form. This trend is particularly noticeable among young male consumers who tend to prefer products with excellent functionality over those emphasizing convenience. In addition, while in the past, consumers might have relied on recommendations from store staff, there is now a strong trend towards comparing products on their own before making a purchase, with an average of about six offline purchases per year.⁽¹⁾ One such meticulously selected product by male consumers this year is the ‘innisfree Retinol Cica Repair Ampoule.’

The primary skin concern for men in their 20s is undoubtedly acne and blemishes. The ‘innisfree Retinol Cica Repair Ampoule’ not only addresses the root causes of such breakouts but also tackles blemish marks, selling 3,500 units daily for cumulative sales of 2.5 million units.⁽²⁾ Its non-sticky watery formula and its gentleness even on sensitive skin have been the distinctive features capturing the heart of well-groomed men in their 20s. Testimonials continue to pour in, with customers leaving comments like “I've been using it for 3 months and the results are excellent. I've been using the ampoule only at night, but all of the breakouts on my forehead are gone. This is a first for me. There is no reason not to buy this product,” and “I’m already on my 6th bottle. It's not oily or sticky. Apply it to areas where you have breakouts that are swollen and sting, and they will be gone the next day.”

2. Renewed but still strong: Green Tea

innisfree underwent an extensive rebranding this year, discarding the old ‘Jeju’ concept and introducing a new island, “THE NEW ISLE,” to pioneer a newly imagined island. To incorporate an ambitious and dynamic brand image, they replaced the key color with an active green shade. Although it did take time for some consumers to get used to this unfamiliar concept, Gen MZ groomers continued to be the most significant purchasers of the brand. In fact, it was chosen as this year's brand with the most new customers compared to last year. Among them, the proportion of individuals in their 20s was approximately 2% higher than the average. All of the top 10 products loved by well-groomed men in their 20s and 30s were from innisfree, and among them, the ‘Green Tea Hyaluronic Acid Skin & Lotion’ line maintained robust popularity.

innisfree is a brand with expertise in green tea research, and the ‘Green Tea’ line has been consistently valued by customers, thanks to its main moisturizing ingredient, Beauty Green Tea™, with a 1.67-times richer skin-moisturizing component (Theanine) than regular green tea.⁽³⁾ Despite being renewed along with the brand, the Green Tea line has firmly established itself as an affordable-yet-highly-effective skincare line, receiving unwavering support from men in their 20s.

1. September 1, 2021 to August 31, 2023: 2,565,293 units sold (Korea+global combined)
2. September 1, 2021 to August 31, 2023: cumulative sales total (Korea+global combined) / the number of sales days, with an average daily sales volume of 3,500 units
3. Limited to raw-ingredient characteristics

#KEYWORD 5 – Ongoing collaborations

1. Generation gaps evident even in collaboration sales

In 2023, a total of six exclusive collaboration products were released in the Amorepacific Online Store. These collaborations with various brands were something existing customers were looking forward to, and were also an opportunity to attract new customers.

Looking at the purchase data on the collaboration products, we saw that there were distinct preferences based on age groups.

1) Cute is the best! Collaboration with the character TEOLAEGI (20s)

The adorable Welsh Corgi character, ‘TEOLAEGI,’ symbolizes Baekhyun, one of the members of the boy group EXO. This character, employed as an intern at Amorepacific, created a sensation among fans in their 20s with its cute backstory of being part of cushion and gel nail sticker production. The cute packaging featuring the character's face, combined with the details incorporating the scent of his favorite fruit, strawberry, was received tremendously well by customers. As a result, many customers purchase two to three of this item, which implies that many fans tend to keep one for display at home while using the other for practical purposes.

2) Practical and trendy! ‘TWB’ collaboration (30s)

On the other hand, customers in their 30s responded well to collaboration products focused on practicality. Beach towels, terry shorts, and towel mini-bag kits were released as part of the collaboration with TWB, a high-end towel brand. The ‘vacance kit,’ released just in time for Amore Big Sale Festa, claimed the top spot as the most popular item in the collaboration lineup. With items paired perfectly for the summer holiday season and its trendy designs, the collaboration played a crucial role in attracting the highest number of new customers.

3) Want to look cool both inside and outside? ‘Pairs/Asiana/GBH’ collaborations (40s)

Meanwhile, customers in their 40s showed a preference for collaboration products that combine practicality and sophistication. Collaboration products with the fashion brand ‘Pairs,’ the airline ‘Asiana,’ and the lifestyle brand ‘GBH’ were especially popular. The items were well-received not only for their practical appeal for travel or picnics but also for their simple and hassle-free design, making them excellent additions to everyday life.

2. Collaboration: the powerhouse behind flagship products

Adding collaboration packages to best-selling products is now a go-to practice. It may seem somewhat predictable, but numbers have demonstrated that collaboration edition packages for signature items enhance the charm of brands and products. One such example is the ‘ETUDE X Bear Kku Ginger Sugar Edition.’ This collaboration adorned the consistently beloved Ginger Sugar lip care line with the down-to-earth and relatable character ‘Bear Kku.’ which led to tremendous sales. Noticeably, the sales of the series in the 20 to 40 age group was 10% higher compared with the usual record in that age group. A well-curated collaboration edition that gives a makeover to flagship products captures the attention not only of existing customers but also of new customers. ETUDE was also selected as the brand with the 3rd-highest number of new customers.

#KEYWORD 6 – This year's Amorepacific employee pick

1. Soon to reach 10 million units in cumulative sales

HERA's ‘Black Cushion’ has claimed the top spot, for two consecutive years, as the most-purchased product by employees. As of May this year, it had sold a cumulative total of 8.9 million units, keeping its throne as the number one cushion brand for six consecutive years since its release. It's a remarkable product that consistently performs well in ever-changing beauty trends. Black Cushion played a pivotal role in transforming HERA into a total makeup brand, and it recently secured the top spot for its long-lastingness as well as second place in the cushion foundation category at the ‘LIPS Best Cosme Awards 2023’⁽¹⁾ held in Japan. Let's see if it maintains its position as the best-performing cushion in the coming year as well.

The product has been on the market for quite some time; Many employees and integrated membership customers have purchased the product multiple times, and they all have how-to tips to offer. At the official Amorepacific Online Store, you can find testimonials with useful information such as “Apply just a little on the puff and put it on one layer at a time. The more you tap, the better it sticks to your skin”; “If you have dry skin, layer it firmly after applying basic skincare for a smoother finish,” and “Using it together with the Black Foundation from the same line makes it last longer and helps it from becoming cakey.”

2. Newly trending: Sophisticated and natural ‘Seoul Beauty’

As briefly mentioned earlier, K-beauty is currently thriving in Japan. HERA has also made a full-fledged entry into the Japanese “luxury market” this year. Starting with a successful first pop-up store in Tokyo Shibuya, the brand's goal is to have their products officially available in Japanese department stores next year. In the pop-up store, the makeup team from Seoul provided on-the-spot touch-up services to show customers the ‘trending makeup among locals.’ On average, 40 customers received skin consultation every day during the pop-up. Thanks to the brand ambassador Jennie, who boasts a huge worldwide fanbase, brand awareness continues to grow. Items that are popular locally include ‘Black Cushion,’ which creates a natural base makeup, and ‘Sensual Nude Gloss,’ which is perfect for giving the lips that lollipop-like yet non-sticky gloss.
What's next on the agenda for HERA is entering the Thai market and ultimately the global market in the longer term. It seems that HERA is on a roll, set to become the go-to brand for Seoul Beauty.

1. Japan's largest cosmetics social review app with over 10 million cumulative downloads (LIPS Best Cosme Awards 2023)

We have looked at the beauty trends of 2023, and interestingly enough, some aspects predicted in last year's trend report have proved to be more-or-less accurate. Looking ahead to 2024, it seems that the current trends will continue and develop. Wellness, defined by ‘mental well-being,’ will continue to be one of the trending keywords; some consumers will lean towards purchasing more affordable products and others will invest in higher-priced items with clear benefits. It will be amusing to see what new trends emerge, and we look forward to the upcoming Beauty Trend Report for 2024. 😊