Is Daiso: South Korea’s  New Haven for Beauty

Is Daiso: South Korea’s  New Haven for Beauty

THE WHAT? In response to rising prices, Daiso, a popular single-price store in South Korea, has become an attractive retail channel for beauty products, drawing interest from small cosmetic brands seeking to gain shelf space. The store’s success stories, such as Nature Republic and VT Cosmetics, highlight its potential as a lucrative platform for cosmetic sales in the current economic climate.

THE DETAILS  Daiso has seen a surge in beauty sales, with an 85 percent increase compared to the previous year, fueled by over 250 products from 26 cosmetic brands as of the end of 2023. This growth has led to a flood of inquiries from cosmetic brands eager to secure a presence in Daiso’s beauty section, indicating its emerging role as a key retail outlet for cosmetics in South Korea.

THE WHY? Small to medium-sized cosmetic brands are launching Daiso-exclusive products and brands to capitalize on the store’s widespread popularity, especially among teenagers, due to its affordable price range and extensive network of over 1,400 stores. This strategic approach aims to enhance brand visibility and appeal to a younger demographic, leveraging Daiso’s accessible pricing and status as a cultural shopping destination.