Consumers are rapidly increasing their searches for perfumes, makeup, and skincare on the trend trading platform KREAM. The demand for high-end niche perfumes at relatively lower prices has led to a broader expansion of purchases across cosmetics, establishing beauty as a new growth pillar for KREAM.
According to KREAM, beauty transaction volume in the first half of this year rose by approximately 90% compared to the same period last year. During the same timeframe, transaction volume increased by 106%, and the number of buyers grew by 107%. The repurchase rate also saw an increase of about 8%.
Perfumes have been the key drivers of this growth. KREAM analyzed that consumers are attracted by the ability to purchase high-end niche perfumes, such as Jo Malone, Le Labo, and Byredo, at prices lower than their retail launch prices.
A KREAM representative stated, "The average transaction price for the top 10 active niche perfumes was about 33% lower than their launch prices." As a result, the transaction volume for fashion perfumes surged by 163% in the first half of the year compared to the previous year. The transaction volume and value for niche perfumes also increased by 66% and 68%, respectively.
Additionally, customers drawn in by perfumes are quickly expanding their purchases to other beauty products. In the first half of the year, the transaction volume for eye makeup increased by 366%, while skincare transactions rose by 332%. Men's beauty sales also jumped by 175%. This trend is attributed to customers who initially sought specific perfumes on KREAM broadening their purchases to include lip products, base makeup, and skincare.
Services enhancing delivery convenience are also contributing to the growth of beauty transactions. From May to July, about 70% of beauty category transactions utilized fast delivery, which is 11 percentage points higher than the overall average of 58% across KREAM's categories.
A recently introduced shopping bag option aimed at gift demand has also received positive feedback. In a pilot program for overseas shipping products, more than half of the buyers opted for the shopping bag option. Since its introduction, the transaction volume for these products has increased by approximately 80%.
The KREAM representative added, "Recently, the range of purchased products has rapidly expanded to include fashion perfumes, makeup, and skincare. We will continue to enhance our product offerings and services to allow customers to conveniently purchase a variety of beauty products in a trustworthy environment."
Meanwhile, Naver plans to invest 130 billion won in KREAM in the second half of this year. Naver will participate in KREAM's capital increase by acquiring 38,681 common shares.
* This article has been translated by AI.
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