Annual Male Purchase Amount Increases by 20%
Higher Online Purchase Ratio Than Women
Foundation and Other Color Cosmetics Also 'Popular'
[Asia Economy Reporter Lim Chun-han] Office worker Lee Seong-min recently purchased skin toner, moisturizing cream, and BB cream separately after only using all-in-one products. This is because his interest in appearance care has increased significantly since entering his 30s. Lee said, "I used to use products that only required applying one item because it was bothersome, but now I feel I need to take care of myself," adding, "It's my first time buying BB cream, and I'm very satisfied because it hardly shows that I applied it on my face."
As the number of 'grooming tribe' men who actively care for their appearance increases, the men's cosmetics market is growing. In particular, not only skincare products but also color cosmetics such as BB cream, foundation, and colored lip balm are gaining great popularity.
According to CJ Olive Young on the 25th, the purchase amount by male customers has increased by an average of 20% annually over the past three years. The main purchasing customers were identified as the MZ generation (Millennials + Generation Z). By age group, those in their 20s and 30s accounted for 70% of the purchase amount, while those in their 40s and 50s accounted for 30%.
Men had a higher proportion of online purchases compared to women. The offline to online purchase ratio for men was 6 to 4, higher than women’s 7 to 3. This is interpreted as male customers preferring online and Today Dream purchases over visiting stores. Today Dream is a service where Olive Young uses nationwide stores as logistics hubs to ship ordered products from stores near the delivery address.
The men's cosmetics market is becoming increasingly segmented and specialized. From January to September this year, sales of skin toners, lotions, and sets increased by 150% compared to the previous year. Sales of color cosmetics doubled, with foundation, colored lip balm, and eyebrow products showing high growth rates in that order. Unlike in the past, it is analyzed that men have firmly established a trend of purchasing cosmetics themselves according to their skin type and preferences.
The top sales growth among all men's cosmetics was the Round Lab For Men Birch Toner and Lotion, which uses birch sap to help with moisture care, pore management, and sebum control. Second was the Riu Gel Grooming Tonic, a hair essence applied to hair before drying to add volume and assist with hair styling. Third was the Objet Natural Cover Foundation, an all-in-one product that provides UV protection, moisturizing, and skin coverage.
An Olive Young official emphasized, "As more men invest in appearance care for themselves, the men's beauty market is expanding beyond basic cosmetics to categories such as color cosmetics, hair, and body," adding, "We plan to continuously expand product expertise and variety so that men can easily and conveniently experience men's care products."
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