There’s no need to guess here : you can tell by just the number of innovative products and packaging that they come up with.
Yes, according to Patrick Rasquinet, global head of La Prairie Skincare, the world’s most demanding skincare consumers are the Japanese and South Koreans.
Women in those countries also use on average the world’s highest number of skincare products each day, with seven to 12. They are particularly demanding of texture, which is one reason La Prairie tests some of its products in both countries.
Japanese and Korean customers also spend the bulk of their beauty budget on skincare, whereas in many markets makeup is the priority.
Do you agree? Who do you think are more demanding – the Koreans or the Japanese?
Not only that, L’Oreal data showed that Korean and Japanese consumers have more advanced/demanding skin care needs, using at least seven skin care products in their regular skin care routine.
In my opinion, Japan has been a leader for in Skincare for a long time especially when it comes to Beauty Gadgets. In 2007, Japan accounted for 20% of global skin care consumption with $13.1 billion in sales, while making up only 2% of the global population.” No other countries in the world can beat Japan when it comes to Beauty Gadgets.
However, Korean Skincare has been advancing at a really alarming, and fast pace in the world in the past few years. Only two decades ago, Korea was not even on the map for the global cosmetics industry but now it is fast moving toward the center, thanks to a craze to “look better,” a fad that applies regardless of age or gender. Even senior management at global industry leaders like Estee Lauder flies from its Fifth Avenue headquarters to Gangnam in southern Seoul to monitor the latest developments in the Korean market. In particular, Korean men, who lead male skincare product sales with an astounding 18 percent global market share, or $386.5 million last year, have been a happy conundrum the industry wants to reproduce in other parts of the world.
In terms of sales, Korea accounts for 7-9 percent of global ELCA ( Estee Lauder Companies ) sales, taking both domestic and duty-free outlets into consideration. Korea is already the fifth largest cosmetics market for ELCA even by performance at just domestic outlets, after the United States, the United Kingdom, Japan and China ― surpassing countries with a larger population like Germany and France. When duty-free sales are added, Korea is the fourth largest customer for ELCA, overtaking Japan, even before the earthquake and ensuing tsunami ravaged the country earlier this year and dented its consumption.
I can even say that the Koreans are even more creative and innovative when it comes to catching up with trends and coming out with the cutest packaging and the most ridiculous names. From fermentation skincare to snail creams, bee venom, and snake venom and of course BB Creams – it wouldn’t be surprising to see the Koreans taking over Japan in the next decade.
And of course – let’s not forget China. Japan (43%), China (20.2%) and South Korea (9.3%) make up 72.5% of the total cosmetic and toiletries market in Asia, which was valued at just under $71 billion in 2007 according to Euromonitor International. Although Japan remains the No. 1 Asian market (with cosmetic and toiletry sales of $30.5 billion in 2007), China continues to lead with the most dramatic rise, with an annual average rate of more than 10% for the five years leading up to 2007.