is becoming a cosmetics channel
Convenience stores are becoming a new channel for cosmetics in Korea. 7-Eleven said it started selling wet n wild products, a U.S. brand targeting women in their teens and 20s. It is introducing 14 items from wet n wild.
(Author : Retail in Asia)
The brand is well-known for gaining a cruelty-free certification from People for the Ethical Treatment of Animals. It is sold in 40 countries globally. Wet n wild products are currently available in LOHB’s, a health and beauty franchise. In terms of wet n wild, 7-Eleven sells eye shadows, eye shadow palettes, lipsticks, and foundations. They are selectively sold in 100 stores and will become available nationwide next year. The convenience store is focusing on cosmetics items that seem to be gaining popularity.
Its cosmetics sales in 2017 increased 10.8 percent on year but grew 21.4 percent last year. The accumulated sales growth this year through November jumped 28.6 percent. 7-Eleven pointed to easy accessibility and affordability as the main factors driving the sales growth. Wet n wild was selected because of the brand’s affordable price range. People in their teens and 20s accounted for 44.9 percent of the sales of 7-Eleven’s cosmetics products last year. The figure as of November jumped to 49 percent.
“Convenience stores have risen as a new channel where people purchase cosmetics. We plan to expand the types of products that are affordable and have high quality at the stores,” said a spokesperson for 7-Eleven in a statement. Since 2017, CU has been working with affordable beauty brands, like Etude House and Holika Holika. It introduced nine cosmetics items with LG Household & Health Care in May. Targeting young women, they are peach-themed and pink-colored. GS Retail does not sell color cosmetics products. It limits itself to basic skin care products, like lotions and oils.