Beauty Store Business

JUL 2018

Beauty Store Business provides solutions for better retailing! New products, industry news, savvy business moves and important trends affecting both brick-and-mortar and online retailers are included in each issue.

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Page 31 of 91

BlackJack3D/ 30 July 2018 | More than a passing fad, here's how J-beauty is leaving a permanent mark on the industry. By Karen Wilhelmsen I f you have not heard already, J-beauty is most definitely on the rise. Otherwise known as Japanese beauty, Japan has actually been influencing the U.S. beauty industry for decades with longstanding brands like Shiseido, SK-II and Shu Uemura. The second largest beauty market in Asia (behind China), Japan generated more than $25 billion in revenue from personal care products in 2017–with $2.75 billion in beauty exports last year, according to the Japanese Cosmetic Industry Association. A report from the International Trade Administration also found that per capita, Japanese consumers were among the most prolific, spending $223 on cosmetics annually, compared to $139 by the average U.S. consumer. Although J-beauty brands have a history of influence in the U.S. market, in recent years, K-beauty (or Korean beauty) has gained both market share and far-reaching trend influence–particularly in the skincare market. Characterized by unique ingredients like truffle oil, propolis and snail mucin, K-beauty products are recognizable for their playful packaging and distinctive formulations à la two-tone lipsticks and waterless products. To help prevent the early signs of aging, it's common for Korean skincare aficionados to adopt a comprehensive, 10-step skincare regimen.

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