Market for cosmetic products looks good
Jan 15, 2019-
Korean and Japanese brands hold a large share of the cosmetics market in Nepal. According to a Korean cosmetics merchant, monthly sales of Korean and Japanese beauty products total around Rs2.5 million. Ximiso, Miniso and Mumuso brands of cosmetics have gained significant popularity in the Nepali market within a short period of time.Bachelor-level student Ankita Pokhrel has been using Korean cosmetics for four years. She likes BB creams and lipsticks from a Korean brand which she says have been providing good results.
The Korean and Japanese cosmetics market is growing at the rate of 10 percent annually, said Bikash Shrestha, marketing officer at Koreana International. It has been around seven years since the trend shifted towards Korean and Japanese makeup products, he said.
Quality is the main reason behind the increasing demand for the beauty products even though they are comparatively more expensive than other brands, he said. The products are lab tested, and many people have used them without any complaints, he said. Fake products are sold in the market, but original products have their official websites where one can check the facts, he said.
Koreana imports Welcus Korean cosmetics and offers a wide range of beauty products like hair straight cream, BB cream, face wash, shampoo and sunscreen, among others. Monthly sales of cosmetics at the shop amount to Rs300,000 to Rs400,000, he said. Prices of the beauty products range from Rs200 to Rs6,000. Teenagers to middle-aged women make up most of the shop’s customers.
Misumi Cosmetics, a seller of Korean cosmetics, offers a wide variety of skin care products. People prefer our products because of the good results, said a staffer at Misumi. Cosmetics from the brand range in price from Rs135 to Rs5,000, she said.
There is increasing attraction towards these brands especially in city areas, she said. Their effectiveness is also one of the main reasons for people buying them. These brands do not conduct large publicity campaigns, but people find out about these products by word of mouth.
According to the import data of the Department of Customs, Nepal imported eye makeup and lipsticks worth Rs279.3 million in the first five months of the current fiscal year 2018-19. Imports of creams and powders came to Rs1.5 billion during the same period. Most of the beauty products are brought from China, India, Indonesia and Thailand, according to the data.
Published: 15-01-2019 07:47