INTHEBLACK November 2026 - Magazine - Page 22
FEATURE
“In beauty specifically, we are seeing growing demand
for in-store experiences where customers can touch
and sample products. Given the sheer volume of choice
available online, the ability to go into a store and have a
one-on-one experience has become increasingly valuable.”
LOUISE HEATH, DELOITTE
built around consumer insight, innovation
and speed,” says Minji Kim, senior
research analyst at Euromonitor in Seoul.
“Korean brands are very good at reading
what consumers want, such as visible results,
ingredients they can understand and good
value, then turning those needs into products
very quickly. Trends like [music genre] K-pop
and social media help raise awareness, but the
bigger strength is how this model connects
consumer needs, product development and
digital channels.”
22 INTHEBLACK November 2026
BEAUTY’S CHANGING FACE
The beauty market has grown beyond its
traditional boundaries of skincare, hair care,
fragrance and colour cosmetics, expanding
into wellness categories such as sleep care
and supplements.
There is also a change in consumer profiles,
with the global men’s grooming products
market projected to hit US$115 billion
(A$159.7 billion) by 2028. The beauty
buyer base is also getting younger with
Gen Alpha, the demographic cohort born
from 2010 to 2024, now engaging with
skincare and beauty products at around
age eight — roughly five years earlier
than Gen Z did.
“Beauty now intersects with the broader
wellness market, and consumers are much
more knowledgeable about ingredients
and the products they want to buy. This is
largely because of social media and digital
discovery, as products can be easily
demonstrated, reviewed and discussed
online,” says Kylie Archer FCPA, interim
CFO of beauty retailer Adore Beauty.
“The range of products within brands
themselves has also expanded,” she adds.
“For example, you might have a retinol
product available from one brand that
comes in a range of different strengths.”
Feedback via digital channels also enables
brands to respond quickly to customer needs.
“The beauty sales market in particular is
very digital, with e-commerce accounting
for about 62 per cent of beauty sales in
South Korea,” says Kim. “Brands can read
consumer reactions almost in real time.
Western beauty companies often have
strengths like heritage and global brand
power, while Korean brands often compete
through flexibility, feedback and a short
path to launch.”
