Olive Young is a health and beauty store owned by the CJ Group, one of South Korea’s largest conglomerates.
According to a report published by the retailer, data showed that sales patterns were different compared to the previous year.
This year, consumers were focused on ‘colour and scent’, signalling a return of pre-pandemic trends.
The retailer analysed the data from its annual summer sale, which took place between June 2 to 8 in Olive Young stores nationwide as well as its online channels.
This event was the first major sales event since local health authorities loosened social distancing measures.
Previously, the company had observed a “clear offline recovery trend” and crowds at its offline stores during the sales event reflected that.
Furthermore, it observed that “suppressed consumer sentiment exploded” during the sales period.
In particular, colour cosmetics, ‘fashion’ hair dyes, and perfumes showed strong performance. This was attributed to the return of outdoor activities and social gatherings.
Olive Young has observed demand for colour cosmetics rising steadily since authorities lifted COVID-19 social distancing measures.
According to a previous report from the retailer, sales of colour cosmetics increased by 56% from April 18 to May 10 compared to the previous year.
The upward trend for colour cosmetics continued for this sale as well. Top-performing colour cosmetic categories included cushion compact, lip tint, and eyeliner. Compared to the same sales period last year, sales of these increased by 54%, 54%, and 24% respectively.
Sales of hair dye also increased by 26%. It was highlighted that the demand for hair dye products was driven by consumer desire to change hair colour and styles.
This was unlike at the height of the COVID-19 pandemic when the spike in hair dye was attributed to the need to cover grey hairs and maintain styles while hair salons were shuttered.
Lastly, the retailer also saw a spike in consumer demand for perfumes, which broke into the top 10 rankings. Olive Young noted that this was unusual as perfume sales typically peak in the winter season.
Olive Young believes that the data from the latest summer sale was a barometer of the endemic beauty trends, and said it expected growth based on its product and channel competitiveness.
“Through the first large-scale discount event since the lifting of the distance, we were able to keep the offline vibe alive and look at the endemic trends. Based on our competitiveness, we will strengthen our position as the representative shopping platform of the [millennials and generation Zs].”
