South Korean brands become popular
韩国品牌越来越受欢迎
Chinese women used to favor cosmetics from France or Japan. But now more and more of them are looking to South Korea for beauty products.
For university student Lyu Yi, make-up is essential, from foundation, to lipstick and eye make-up. And she favors cosmetics imported from Korea.
Lyu Yi, university student said:"Cosmetic products from South Korea reminds me of Yoona of Girl's Generation, whereas cosmetics from western countries are more of stronger make-up looks. I prefer the Korean-style light makeup. Also, the prices of these products are quite fair, they're not as expensive as western famous brands. So I like them very much."
And she's not the only one. According to the Korean International Trade Association Chinese consumers bought more than 370 million US dollars worth of cosmetics products from South Korea in the first seven months this year, -- a huge year-on-year gain of 250 percent.
The trade is growing so fast that Korea has become the second largest cosmetic supplier to China, only after France. South Korean cosmetic products shot to fame two years ago,alongside hit Korean drama series. Analysts say cosmetic brands have also carried out very successful marketing campaigns, linking them to TV and pop culture.
"The K-Pop, the Korean culture, the Korean drama, the Korean fashion, as well as the music, is one of the key drivers to push the customers to buy the Korean cosmetics. Because they target at young consumers -- the school girls, as well as the young office ladies, so the pricing is a very important point for them to boost the sales. Moreover, FTA, the Free Trade Agreement between China and South Korea will further uncap the price advantage of Korean products in China," said Ryan Zhou, senior director of CPG Vertical, Nielsen China.
However, Korean brands still have a long way to go if they want to compete with their domestic rivals, as they still only account for between three and five percent of sales.
But with experts estimating the Chinese cosmetic market's worth at around 100 billion yuan, there's definitely room to grow.