Olive Young’s Mid-Year Sales Data Reveals Color and Fragrance Demand
Olive Young is a health and beauty store owned by the CJ Group, one of South Korea’s largest conglomerates.
According to a report released by the retailer, the data showed that sales patterns were different from the previous year.
This year, consumers focused on ‘color and fragrance’, signaling a return to pre-pandemic trends.
The retailer analyzed data from its annual summer sale, which took place June 2-8 at Olive Young stores nationwide as well as its online channels.
This event was the first major sales event since local health authorities relaxed social distancing measures.
Previously, the company had observed a “clear trend of offline recovery”and the crowds in its offline stores during the sale reflected that.
Furthermore, he observed that “Repressed consumer sentiment has exploded” during the sales period.
In particular, colored cosmetics, “fashion” hair dyes and perfumes posted solid performances. This was attributed to the return of outdoor activities and social gatherings.
Olive Young observed that the demand for color cosmetics has been steadily increasing since authorities lifted COVID-19 social distancing measures.
According to a previous report from the retailer, sales of color cosmetics increased by 56% from April 18 to May 10 compared to the previous year.
The upward trend in color cosmetics also continued for this sale. Top-performing color cosmetics categories included compact pad, lipstick, and eyeliner. Compared to the same sales period last year, sales of the latter increased by 54%, 54% and 24% respectively.
Sales of hair dyes also increased by 26%. It was pointed out that the demand for hair coloring products was driven by consumers’ desire to change their hair color and style.
It wasn’t like during the height of the COVID-19 pandemic, when the hair dye spike was blamed on the need to cover gray hair and maintain styles while hair salons were closed.
Finally, the retailer also saw a spike in consumer demand for fragrances, which broke into the top 10 of the charts. Olive Young noted that this was unusual because perfume sales typically peak during the winter season.
Olive Young believes the data from the last summer sale was a barometer of rampant beauty trends and said she expects growth based on the competitiveness of her products and channels.
“With the first large-scale discount event since the distance was lifted, we were able to maintain the offline vibe and observe rampant trends. On the strength of our competitiveness, we will strengthen our position as a commercial platform representative of the [millennials and generation Zs].”