Beauty device market is booming
The average on year sales of these devices, like Cellreturn’s LED masks at Lotte Department Store, have jumped 103.7 percent from January to July. According to the retailer on Monday, the trend reflects people’s growing interest in taking take care of their looks and in anti-aging skincare.
The premium devices were traditionally purchased by middle-aged and senior consumers, but people in their 20s and 30s have become a larger percentage of the customer base.
Sales of the Pra.L Derma LED Mask from LG Electronics at Lotte Department Store rose around 20 percent January to July this year compared to the same period a year ago. Sales of Cellreturn’s beauty device skyrocketed 3,000 percent on year with the opening of more Samsung Electronics stores inside the retailer. Cellreturn signed a strategic partnership with Samsung Electronics and became the rising competitor to the Pra.L.
According to the LG Economic Research Institute, the home beauty market has grown around 10 percent annually. Its market value in 2013 stood at 80 billion won but has expanded to 500 billion won by the end of last year. The institute forecasts the market to grow to 1.6 trillion won by 2022.
With the trend in mind, the department store unveiled a facial mist that has been proven to have sterilizing effects, according to Lotte. The product, made by home appliance brand Tronic, is available at its private brands Eliden Play and Eliden Studio.
“The Home beauty market in Korea is rapidly growing, with more people paying attention to their looks,” said a spokesperson for Lotte Department Store. “We plan to unveil diverse home beauty products not just for the face, but also for the neck.”
BY JIN MIN-JI [firstname.lastname@example.org]