Asia-based ecommerce platform Shopee intends to premiumise its beauty offerings, by increasing its focus on K-beauty brands.
Sales of Korean beauty continues to grow in Southeast Asia and Taiwan
Korean beauty products remain as one of the top-selling products of Shopee. The retailer has seen more shoppers searching and buying K-beauty brands on its platform, due to the popularity of K-pop culture. Shopee has learned that there is an increasing trend of Korean products being featured in these shows, and brands with a Korean celebrity endorser also tend to perform well. Among the products exported from Korea to Southeast Asia and Taiwan in Shopee’s platform, bestsellers are always skin care products and cosmetics.
Digital-savvy millennials and Generation Z increase demand for premium beauty brands
Shopee has noticed that the demand for premium beauty brands exceeds mass beauty on its platform. This growth in the premium segment is stimulated by the growing middle class in Southeast Asia, as well as digital savvy millennials and those from Generation Z. Shopee’s regional marketing director, Ian Ho, commented that shoppers from this demographic “are willing to pay extra to get what they want and will take time to research, compare and subsequently make the purchase mainly online. The health and beauty category has always been one of our top performing categories, and we’ve seen consistently strong demand for beauty products on Shopee. We believe that this trend will further boost the growth of the beauty category on our platform as more brands join Shopee Premium to tap on our differentiated offering to reach these shoppers.”
Shopee partners with Laneige and Innisfree of Amorepacific
As more affluent and younger people in the region choose to buy their premium beauty products online, brands that target this consumer segment need to differentiate themselves through partnerships. Amorepacific, maker of Laneige and Innisfree, has taken this opportunity to work together with Shopee on its data-driven marketing strategies. It has recently signed a Memorandum of Understanding (MOU) with Shopee to expand its digital reach in Southeast Asia and Taiwan. This partnership is expected to further increase Amorepacific’s sales on Shopee Mall. Since its launch in 2018, Laneige and Innisfree have been consistently in the top five of the beauty category on Shopee’s monthly promotions from 9.9 to 12.12, enabling Amorepacific to double its ecommerce business in the region last year.
Lazada’s previous partnership with Amorepacific has also grown its online business
This tie up between Amorepacific and Shopee comes after its earlier partnership with Lazada. It allowed the two companies to launch Amorepacific’s “AMORE Store X Lazada” at Funan in Singapore, which blended offline and online shopping elements to enhance customers’ experience from browsing and sampling products to making their purchase.
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