Convenience Stores Emerge as Lifestyle Beauty Platforms
Full Launch of Cosmetics Priced Around 3,000 Won
Collaborations with Professional Brands Also Underway
The convenience store industry is strengthening its beauty product lineup by introducing 'value-for-money cosmetics.' As a result, existing beauty distribution channels such as Olive Young appear to be on alert. There is growing interest in whether domestic convenience stores can follow Daiso and emerge as a 'value-for-money beauty sales platform.'
According to Korea Seven on May 27, 7-Eleven has been launching a series of differentiated, small-sized, value-for-money cosmetics, leveraging the accessibility and popularity that are core strengths of the convenience store channel. Starting with the release of a 50ml mineral sunscreen on the 9th, the company introduced two types of Medipeel single-use stick-type pouch sunscreens (four per pack each) and a Pore Lifting Shot Serum (four per pack) on the 21st. The mineral sunscreen is priced at 4,900 won, and the Medipeel single-use stick-type pouch sunscreen is priced at 3,000 won, both offering exceptional value for money.
In addition, starting on the 28th, 7-Eleven will collaborate with Be:Wants, a beauty brand under HK Inno.N, a subsidiary of the cosmetics R&D specialist Kolmar Korea Group, to launch four new basic skincare products. The new products being launched with Be:Wants are: ▲PDRN Peel-Off Mask Pack (3,000 won) ▲Glutathione Micro-Stimulation Serum (3,000 won) ▲Cica Collagen Lifting Cream (3,000 won) ▲Cica Collagen Calming Pad (4,500 won).
7-Eleven stated, "We see the beauty category as a new blue ocean and will enhance our competitiveness by leveraging the unique characteristics of the convenience store channel," adding, "We plan to continue launching differentiated products at reasonable prices." The company aims to strengthen its competitiveness in the cosmetics sector, which is emerging as a new revenue source for the convenience store industry, and to solidify its position as a lifestyle beauty platform.
GS25 collaborates with color cosmetics specialist brand SonandPark to launch the color cosmetics brand SonandPark Hati on the 29th. GS Retail
GS25, operated by GS Retail, is also launching the color cosmetics brand 'SonandPark Hati' in collaboration with color cosmetics specialist brand SonandPark on the 29th. 'Hati' is a combination of 'HANDY,' meaning useful or convenient, and 'BEAUTY,' and represents GS25's exclusive color cosmetics line that offers both reasonable prices and practicality. The new products being introduced by GS25 are five types of Lip & Cheek products, which can be used as both lip and blush products, and two types of eyebrow products, all priced at 3,000 won each.
Since last month, GS25 has also been test-selling color cosmetics from the Musinsa makeup brand 'Whizzy' in partnership with Musinsa. In addition, four new products from Dongkook Pharmaceutical's skincare brand Madeca21, the 'TecaSoside Calming Line,' have recently been introduced at GS25 convenience stores. GS25 has been actively launching value-for-money cosmetics since December of last year. As a result, the annual sales growth rate of GS25's cosmetics category has been rapidly increasing year-on-year: ▲22.4% in 2022 ▲37.9% in 2023 ▲45.6% in 2024.
As convenience stores focus on value-for-money cosmetics, existing beauty distribution channels such as Olive Young and Daiso are also stepping up their efforts to stay competitive. An industry insider said, "As Daiso introduced value-for-money cosmetics, consumers' attention has shifted from Olive Young to Daiso. Now, with convenience stores?offering even greater accessibility than other distribution channels?entering the value-for-money cosmetics market, competition is expected to become even more intense."
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