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| ▲ This photo, provided by Hyundai Department Store, shows B CLEAN vegan beauty store. |
SEOUL, Feb. 13 (Yonhap) -- It has become evident over the past few years that the consumption craze of young people growing in South Korea. The younger generation, also dubbed the MZ gen, that used to sit on the edge of consumption in the past due to low income, has become the core of the consumption group in South Korea.
One of the noteworthy characteristics of these MZers is that they buy what they believe in. The buzzword “meaning-out” implies that the younger generation buys products from brands that would reflect their personal beliefs and values. Such a trend has been witnessed by the recent rise of vegan beauty products.
B CLEAN, a vegan beauty select shop run by Hyundai Department Store, announced Monday that the brand’s sales in the 20s and 30s consumers this month increased by 70% compared to that of last month. Its sales account for more than 33.7% of the total sales of all cosmetic stores that have launched at the Department Store.
B CLEAN selectively sells products that only contain natural ingredients or do not conduct animal experiments. Last year, the select shop held a total of 251 pop-up events either to launch new beauty brands or celebrate the pre-release of new products.
Hyundai Department Store plans to promote vegan beauty as its anchor content that would attract the MZ generation to visit the offline stores.
As one of the three major department store chains in South Korea, Hyundai Department Store is considering opening new B CLEAN stores in Cheonho and Jung-dong branches this year, and having B CLEAN stores stationed at more than 16 department stores nationwide in the future.
(This article is translated from Korean to English by Ha eun Lee)
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