The psychological differences between millennials and Gen Zs as a result of the last few turbulent years are playing a significant role in driving divergent makeup trends in Asia Pacific.
The beauty needs and shopping habits of Korean millennials have undergone a significant shift on the back of the COVID-19 pandemic, according to a systematic review by researchers.
Digital platform POPxo has entered the beauty space with a brand targeting young consumers looking for affordable and easy-to-use products and is aiming to hit U$13.9m in sales in the next 12 months.
Knowledge of the Gen Z and millennial consumer combined with a burgeoning global reputation are two of the reasons Korean major Amorepacific has taken a 38.4% stake in cult K-beauty brand COSRX, as it looks to expand its own footprint overseas.
Amorepacific-owned South Korean brand innisfree will launch a new anti-ageing line, Black Tea Youth Enhancing, in Singapore, following success in its home market.
Mother and baby care brand Evereden is eyeing untapped opportunities in the Asia Pacific region where it believes younger parents are looking for more natural yet science-backed baby care products.