For female consumers born in the 1980s and 1990s, Korean affordable beauty products are well deserved to be their "enlightener" on the road of makeup. Yiti's House and Mengzhuang brand products are sweetly packaged and full of youthful colors, almost everyone has one. Recently, the reporter found that the Tmall flagship store of the Yiti House brand issued an announcement that the store was suspended from operations and removed all products of the store on November 12, and the recovery time was to be determined. Looking back at the affordable Korean beauty products that have been losing streak in the Chinese market, it has gradually become less popular, not only because of the reasons for Korean beauty products, but also the rise of domestic beauty brands. In an era where domestic beauty products are becoming more and more eye-catching, the beauty market has undergone tremendous changes.
flagship store suspends operations
brand says business strategy adjustment
Recently, the reporter saw on the homepage of the Taobao platform "Eti's House" Tmall official flagship store that the store issued a "shop announcement", which marked "Due to the adjustment of the brand strategy of Eti's House, this store will suspend operations, and all products of the store will be removed from the shelves on November 12, and the recovery time is to be determined", and the deadline for contacting customer service was indicated. The store has 3.68 million followers. The reporter clicked on the "All Baby" column, and the page showed that there were no products. The reporter then checked other online stores of Yiti House. In addition to the official flagship store of Tmall, the Yiti House overseas flagship store of Tmall International is still in normal business.
For this situation, the reporter called the official customer service number of Yiti House. After verification, the customer service told the reporter that the Tmall flagship store is currently closed and the product has been removed from the shelves. "This shows that due to internal brand adjustments, it is temporarily closed, and the subsequent specific announcements have not been announced yet." A relevant person in charge of AmorePacific Group said in an interview with other media that the temporary suspension of operations of the Tmall official flagship store in Yiti's House is a short-term adjustment and is part of its brand business strategy adjustment plan. After a short-term adjustment, operations are planned to resume in the first quarter of next year.
According to Baidu encyclopedia, Yiti House is a sweet makeup brand directly operated by Amorepacific Group, South Korea's No. 1 cosmetics group Amorepacific Group, and is also the only makeup brand among the group's five major brands in mainland China. It is deeply loved by women around the world for its pink, dreamy princess style and trendy and creative cosmetics. A few years ago, Korean cosmetics brands captured the hearts of girls with their advantages of wide publicity, celebrity endorsement, exquisite packaging, and affordable prices. Whether it is online shopping stores or purchasing agents, Korean affordable cosmetics products have extremely high sales. "In our high school and college years, Korean affordable cosmetic brands such as Yiti House were very popular, but as we grew older, these brands were gradually left behind." In that era when shopping channels were not rich, Yiti House, Dexian, Incis Fengyin and other brands took over all the processes for girls to take care of their skin and make-up.
As a Korean makeup brand that entered China earlier, Yiti House opened 85 brand-based direct stores in 25 cities including Beijing, Shanghai, Guangzhou and other cities. However, the good times did not last long. In mid-2020, Yiti House closed stores in mainland China one after another, and even Yiti House WeChat mini program official mall closed the store in February this year.
Profit Medium purchasing center shifts
Korean makeup offline stores have closed one after another
Luo Luo (pseudonym) occasionally work part-time purchasing agents, traveling between China and South Korea. In her opinion, Korean makeup products have declined significantly in recent years. According to her, affordable Korean makeup such as Yiti House was once very popular in South Korea. A street was full of consumers who came to buy affordable beauty products, but now that street is much more depressed. Ms. Zhang, who is engaged in Korean cosmetics purchasing agents, also told reporters that Korean affordable products are gradually declining in the Chinese market. "In recent years, the rise of Chinese local brands, and domestic products have begun to receive more attention. At the same time, the impact and participation of Korean wave on the domestic economy have also shown a downward trend. South Korean affordable cosmetics are not as good as domestic products in terms of cost-effectiveness, and are not as good as European and American brands in terms of effectiveness. Many reasons are intertwined, resulting in a decline in sales of Korean affordable cosmetics products."
Another Korean purchasing agent also said that around 2013 was the "peak period" of Korean makeup purchasing agents. Korean makeup is cheap, and the purchase channels were limited at that time, so the goods purchased by South Korea were "insufficient". For example, a beauty product that can be purchased at around 20 yuan in South Korea, even if it doubled after returning to China, some people rushed to buy it. However, in recent years, purchasing agents have focused their work on high-end online brands of European, American and Japanese brands, and the Korean products sold are also made of trendy brand clothing and hand Mainly watch bags. Unlike in the past, beauty products of the same style as before, even if they only have a meager profit, they are difficult to sell.
Korean skin care products and beauty brand stores have developed online and offline in the Chinese market, but in recent years, offline stores have gradually ushered in the end of closing stores. The reporter learned that at the end of 2018, Feisi Xiaoshu , which was once highly anticipated, withdrew from the Chinese market, and more than 300 stores were all closed; Skin, which has been in China for 10 years, has been in China. Food Skin Skin has also withdrawn from many department stores and is in a bankruptcy crisis. At the beginning of this year, the only remaining Korean beauty brand Indie Fengyin also reported a large-scale store closure; in February, Heyan announced that it had successively closed offline stores in China; in March, Yidi House closed all offline stores in China, leaving only the beauty collection store "colorist" in offline channels.
It is reported that colorists are a beauty collection store brand, focusing on affordable + light luxury new makeup. After Yidi House entered, it first conducted trial sales in more than 20 stores, and then it was put on the shelves in stores across the country. Subsequently, the reporter checked the famous brand rolling area of the official website of the colorist brand and saw Yidi House. A reporter visited Jinan City The colorist store found that the Yizhi House brand only occupies one of the shelves, with only 9 products, and the brand logo has also been weakened.
Local cosmetic brands have received "likes"
domestic products have risen to form strong competitiveness
Looking at the popular beauty products in recent years, it is not difficult to find that the affordable and novel style characteristics of Korean beauty products have been gradually highlighted in the domestic market. With the vigorous promotion of beauty bloggers on online shopping platforms and social platforms, more and more consumers have begun to be familiar with the diversity of of domestic brands, which has also made a number of new brands break the ground New attempts are constantly being made. From lipstick to lip clay, from eye shadow palette to monochrome eyeshadow, domestic beauty products are deriveting new product chains, attracting female consumers to try new things. During this period, the competitiveness of Korean beauty products has also quietly declined without realizing it.
reporter searched for "affordable beauty" on social platforms such as Xiaohongshu. Among the series of recommendations from consumers, Korean beauty brands also occupy a part of the traffic, but more of the people appear in front of them are domestic beauty brands. From eyelash curlers of 9.9 yuan to sunscreen and isolation creams that cost dozens of yuan, there are many "likes", "I like this design sense very much", "domestic products are getting better and better", many consumers leave comments under the blogger's recommendation, and the same for domestic products There are endless praises. Online, some consumers' interest in domestic beauty products has directly generated purchasing power, and brands such as Perfect Diary have developed from online to offline. It has appeared in prominent positions in many shopping malls, which is undoubtedly another important improvement in the development of domestic products.
has a report that in the future, consumers' willingness and ability to consume makeup will continue to increase, and the cosmetic industry has a large room for growth. Local cosmetic brands are rising and will gradually break the monopoly position of international brands. It is expected that my country's local cosmetics market size will reach 55 billion yuan in 2023, and the compound growth rate of the makeup market from 2021 to 2023 will reach 23.8%, which is higher than the compound growth rate of the skin care market during the same period.
Industry insiders said that at present, domestic brands can be roughly divided into three categories. One is the older generation of domestic products represented by Shanghai Jahwa. These domestic brands have been long and have deep precipitation, and currently have a stable position in the domestic market; the second category is the new generation of beauty brands represented by Perchoy . After more than ten years of precipitation, they can withstand changes in the market environment in many aspects such as channels, user stickiness, and consumer reach; the third category is the new brands represented by Huaxizi. With the support of capital, they have grown rapidly in 3-5 years. They have caught up with the express train of traffic, and at the same time, traffic itself has been changing. Industry insiders believe that the future breakthrough of domestic brands will definitely rely on quality and brand-driven, rather than traffic and product-driven.
Source: Shandong Business Daily Editor: Lu Ting
