Musinsa reports 5.8-fold growth in beauty transactions during sales fest

By Candice Kim Posted : September 10, 2024, 15:12 Updated : September 10, 2024, 15:12
Musinsa Beauty's model Karina of K-pop girl group Aespa. Courtesy of Musinsa
 
SEOUL, September 10 (AJP) - Musinsa, a leading online fashion platform in South Korea, on Tuesday reported a 5.8-fold year-on-year increase in beauty category transactions during the Musinsa Beauty Festa, held both online and offline from Aug. 19 to Sept. 8.

During the three-week period, customers who bought beauty products accounted for 21.8 percent of all Musinsa store purchasers, with 27.5 percent of them being male, the company said. 

The offline portion of the festival, held in Seoul's hip Seongsu-dong area from Sept. 6-8, drew over 18,000 visitors. The 41 brands participating in the offline pop-up shops saw an average 7.2-fold increase in transactions compared to the same period last year, Musinsa said.

Makeup products led sales at 34 percent, followed by skincare at 29 percent and fragrances at 10 percent. 

The festival's success was attributed to its focus on emerging "next beauty" brands and the opportunity for customers to experience typically online-only products in person.

Its popularity was evident on social media, with over 10,000 posts using the hashtag "MusinssaBeauty" during the three-day offline event. 

The festival also partnered with about 40 local shops in Seongsu-dong, expanding its reach and offering visitors a comprehensive beauty experience.

"This Musinsa Beauty Festa, held simultaneously online and offline for the first time, achieved higher-than-expected interest and sales growth,” a Musinsa Beauty representative said. 

“We will explore various business strategies, including expanding offline contact points, to foster a healthy beauty ecosystem and support the growth of emerging brands,” the official added.

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