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This year's health & beauty keyword is 'R-E-V-I-V-E’
At the '2021 Olive Young Awards & Festa' event held at Dongdaemun Design Plaza (DDP), Olive Young company settled this year's health & beauty industry trend with 'self-care consumption, eco-friendly consumption, and individuality-oriented consumption'. Unlike last year, this event, which was held offline, featured various experiential events under the concept of a colorful amusement park.
Changes in lifestyle before and after Corona and the linkage of online and offline markets
Olive Young introduced a trend that has changed, focusing on the changes in people's lifestyles before and after the COVID-19 pandemic. As home care and self-care spread and online beauty content diversified, high-functional cosmetics became the trend. Sales of Derma Cosmetics product group increased 18% from the same period last year from January to November of this year, and sales of functional hair products such as scalp care increased by 76%. In addition, due to the growth of the online market, the close linkage between online and offline has become the key to future industry growth. This is also evident from the increase in the number of orders for ‘O-Nel-Dream’(I will give you today), which delivers instant delivery when ordering in-store products online. ‘O-Nel-Dream’s share of the total number of online orders increased from 15% in the first quarter of last year (January to March) to 39% in the third quarter of this year (July to September).
Expansion of value consumption trends such as vegan beauty and health functional food and individuality-oriented consumption characteristics of the 2030 generation
In addition to consumption characteristics that consider health, a consumption trend that emphasizes individuality has spread.
According to the eco-friendly consumption trend, Olive Young's vegan beauty product group sales exceeded 10% of total basic cosmetics sales during the same period, and health functional food sales are showing a 25% increase compared to last year. In addition, young people in their 20s and 30s show a trend to find their own unique lifestyle, and this trend is particularly focused on ‘hanggi’. Olive Young's body care and perfume-related product sales rose 90% compared to the same period last year.
These trends are the health & beauty trend keyword 'REVIVE' announced by Olive Young on the opening day of the exhibition. Envy) is connected. CJ Olive Young CEO Koo Chang-geun said, “We will expand our digital capabilities while strengthening product storage and display functions in offline stores.”
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