Korea to inspire at International Beauty Expo 2016
As companies from around the globe adopt Korean beauty and trends, the 14th International Beauty Expo Korea will showcase the latest innovative colour cosmetics, skin care formulations, design innovations and trends to represent the leading region and how it is evolving.
In light of the country’s rapid growth and overseas success, the annual cosmetic trade show has been certified by the Ministry of Trade, Energy and Industry (MOTIE) as an international trade show and was recognised as outstanding in both 2013 and 2015.
Riding the Korean Wave
With the K-beauty boom and K-pop power travelling across APAC, Europe and the US, non-Korean based retailers are now specialising in Korean Wave concepts and product development strategies.
Hosted by Seoul Messe International, this year’s Beauty Expo is expecting 200 exhibitors from six countries, along with 1,200 visitors travelling from over 40 countries.
Amid this Korea’s global exposure in 2016, this year’s event expects to attract 20% more attendees than 2015’s show.
Keen to develop their relationships with Korea, China, Hong Kong, Taiwan, Japan, and Thailand will all feature brands representing their cosmetics and beauty development at the event.
In addition, there will be an international hall containing Chinese materials to encourage the relationship between the two leading cosmetics heavyweight nations.
South Korea's largest ODM, Cosmax, has recently partnered with leading Chinese e-commerce hub Alibaba to develop a new platform.
In a move that will close the route to market for Korean products in China, the site aims to improve the distribution of Korean cosmetics throughout China.
Marketing priorities
As the APAC region strives to improve its marketing performance through adopting a range of contemporary digital channels and innovative campaigns, this year, Seoul Messe International has partnered with K-beauty marketing specialist Leferi Beauty Entertainment.
Twenty influential and renowned creators will film the event itself over the three-day period. The show will provide live broadcasts and publish the latest news on the event website and other media.
It will also seek engagement from fans and supporters on both eastern and western social media including YouTube, Facebook, Instagram, Meipai, and Weibo.
As Korea has generated mounting interest in the US and other key marketplaces throughout APAC including China and more recently India, it is emphasising the importance of marketing with a conference entitled "Foundation of 2017 Beauty Marketing".
The aim of the conference will be to share information and understanding of influencer marketing and global marketing through new media, and the potential impact this can have.
Korean appeal
In April 2016, Euromonitor International reported that domestic manufacturers in the South Korean beauty and personal care landscape dominated the sector.
In fact, South Korean brands held four of the top five position in terms of value share in 2015, collectively accounting for a 52% value share.
The top two places are held by consumer goods giant LG Household & Health Care and leading cosmetics conglomerate AmorePacific, which boast a variety of brands across multiple sector categories that span mass-market price points to luxury premium ranges.
Compared to the cosmetics brands outside of the country, South Korean players also prioritise product innovations and base developments on multiple or new benefits, innovative application methods and striking packaging designs.
Clever marketing and celebrity endorsements are also a key focus for Korean creators and manufacturers, who use local celebrities as spokespersons to appeal to their target customers both online and offline.
On the opening day of the show, 50 overseas buyers will also be matched with brands on a one-to-one basis to discuss commercial opportunities available and learn more about the country’s mass appeal.
A wide selection of sub-sectors within the cosmetics, beauty and personal care industries will be present, including nail and synthetic eyelash products, hair electronic devices, and home care devices.
