▲ This photo provided by Musinsa shows visitors shopping at the Musinsa Beauty Festa pop-up store event. (PHOTO NOT FOR SALE)(Yonhap)

 

SEOUL, July 3 (Yonhap) -- Musinsa said Friday that transactions in the beauty category on its global online store more than quadrupled in the first half of the year, driven by growing overseas demand for K-beauty products and an increase in cross-category purchases by fashion shoppers.

 

According to Musinsa Beauty, the beauty segment's transaction value on the Musinsa Global Store jumped 361 percent from a year earlier during the January-June period, representing about a 4.6-fold increase.

 

The Musinsa Global Store operates in 13 markets, including the United States, Japan and Southeast Asia, and carries products from about 400 beauty brands.

 

The company said the beauty business has emerged as a new growth driver as the global popularity of K-beauty continues to rise and more shoppers purchase fashion and beauty products together. It attributed the trend to a growing number of overseas consumers viewing fashion and beauty as part of a single lifestyle and style experience.

 

The trend was particularly evident during the company's "Monster Sale," its biggest discount event of the first half, held June 14-24.

 

About 3,000 fashion and beauty brands participated in the promotion, offering discounts of up to 80 percent. Beauty sales rose sharply during the event, helping the category post its highest-ever monthly transaction value in June.

 

Musinsa also cited its differentiated product lineup as a competitive advantage.

 

The global store offers more than 500 exclusive or differentiated beauty products that are difficult to find on other international beauty platforms, attracting overseas beauty enthusiasts seeking new Korean brands and products.

 

The company added that its private-label brands, including Oddtype, Whizzy and Musinsa Standard Beauty, have served as anchor brands that encourage first-time purchases by overseas customers and lead them to buy products from other brands available on the platform.

 

▲ This image provided by Musinsa shows its private-label brand product. (PHOTO NOT FOR SALE)(Yonhap)

 

Among overseas markets, Japan posted the strongest growth, with transaction value surging 770 percent on-year in the first half.

 

Musinsa attributed the strong performance to its offline marketing strategy in Japan.

 

About 75,000 people visited a pop-up event in Tokyo in April featuring Musinsa Beauty's private-label products as well as Korean brands such as One Thing, Dewytree and The Tool Lab. Participating brands recorded average transaction values four times higher than before the event.

 

The company said the event created a virtuous cycle by encouraging customers who experienced the brands offline to continue shopping through the Musinsa Global Store.

 

"As barriers to overseas expansion continue to decline through the global store, interest from partner brands has steadily increased," a Musinsa Beauty official said. "We support the entire overseas sales process, including automatic translation of product reviews, integration of domestic product codes and global fulfillment services, allowing brands to focus on expanding in overseas markets."

 

jwc@yna.co.kr

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