Shopee to ramp up focus on K-beauty brands
It has tied up with Amorepacific to expand it’s digital reach in Southeast Asia and Taiwan.
Shopee has expressed plans to premiumise its beauty offerings by ramping up its focus on K-beauty brands, IGD reported
Amorepacific, maker of Laneige and Innisfree, is working together with Shopee on its data-driven marketing strategies, recently signing a Memorandum of Understanding (MOU) with Shopee to expand its digital reach in Southeast Asia and Taiwan.
Since its launch in 2018, Laneige and Innisfree have been consistently in the top five of the beauty category on Shopee’s monthly promotions from 9.9 to 12.12, enabling Amorepacific to double its ecommerce business in the region in 2020, IGD noted.
“As more affluent and younger people in the region choose to buy their premium beauty products online, brands that target this consumer segment need to differentiate themselves through partnerships,” IGD’s senior retail analyst Francis Ramos said.
Korean beauty products remain as amongst the top-selling products of Shopee. The retailer has seen more shoppers searching and buying K-beauty brands on its platform, due to the popularity of K-pop culture, Ramos said.