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Cosmetic companies go to Daiso for price comparison and cost-effectiveness consumption patterns

71% of consumers search for price information → The number of cosmetics companies entering Daiso is increasing... Tony Moly launches ‘Daiso exclusive brand’

It was revealed that 'price' and 'cost-effectiveness' were the top priorities in consumers' product selection criteria. Accordingly, cosmetics companies are also launching mid- to low-priced lines one after another, including launching Daiso-exclusive cosmetics.  

According to the Korea Consumer Agency's survey on 'Consumer Product Purchase Behavior Patterns', the majority of consumers value practical consumption, such as comparing 'price' and 'quality/performance' through information search before purchase and selecting products with excellent 'cost-effectiveness'. It was found that it does. 

This survey confirmed that 71% of people searched and collected product information before purchasing through a preliminary survey last March, and it is the result of a survey of 15,000 people (male, in their 20s to 60s) who received quality comparison information. 

First, it was confirmed that the majority of consumers (71%) search and collect related product information before selecting and purchasing a product. For that reason, the top responses were ➊ price comparison (30.3%) ➋ confirmation of cost-effectiveness (23.5%) ➌ quality and performance comparison (23%). It is observed that this reflects rational consumption of domestic soba by considering quality and price and purchasing cost-effective products. 

In addition, the channels through which consumers collect product information were ① online shopping mall purchase reviews (71.4%), ② internet cafe/blog reviews (60.4%), and ③ videos such as YouTube and TikTok (46.7%). It was found that rather than looking for company advertisements, they look for channels where they can get actual product usage experience, reviews, and latest trend information. 

The Korea Consumer Agency announced that it plans to reflect consumer behavior patterns in the future by expanding the provision of quality comparative information on products with excellent cost-effectiveness and ▲ providing purchasing and selection guides through various contents (videos, infographics). 

Meanwhile, the number of companies launching Daiso-exclusive cosmetics is increasing significantly. It has already been shown that many companies, regardless of size, are considering entering the market or opening stores, including VT, Too Cool for School, APIEU, and Dongkook Pharmaceutical. This year alone, 8 cosmetics brands launched new products at Daiso. 'Following the launch of 19 brands in 2023, it is expanding at a rapid pace. The lineup, which was only 4 in 2021, now has 34 brands and 310 SKUs. 

Recently, Tony Moly also launched 'Bonsep' as a Daiso-exclusive brand, launching 6 types of retinol as a basic line and plans to introduce a color line in May. In addition, it appears that famous large corporations are discussing opening Daiso stores, so Daiso's beauty corner is expected to become even more abundant. 

In particular, it is becoming a hot topic among the MZ generation and consumers who prefer cost-effectiveness by releasing 'Daiso versions' of hit products or using high-functional ingredients but selling in the 1,000 to 5,000 won range. For this reason, Daiso's beauty sales are said to have grown by 85% compared to last year. Daiso's overall sales also increased from KRW 2.605 trillion (2021) to KRW 3.46 trillion ('23), with the beauty and fashion sectors driving the increase in sales as new growth engines. 

The Korea Consumer Agency predicts that the consumer price index will rise by 3.1% (February 2024), and prices of highly consumed products essential for daily life are also rising sharply, increasing household burden, and rational consumption will continue. It is confirmed that price comparison and cost-effectiveness consumption patterns are leading to an increase in the number of cosmetics companies entering the ‘Daiso Beauty Corner’. 

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