Sneaker platform KREAM sees beauty transactions surge 106%

South Korea's leading resale platform, KREAM, initially known for limited-edition sneakers and fashion items, is experiencing a dramatic expansion in its beauty category. In the first half of the year, transactions for beauty products on KREAM surged by 106% in volume and 91% in value compared to the same period last year. The number of beauty product buyers also more than doubled, increasing by 107%, with a notable rise in repeat purchases, up by approximately 8%. This growth is largely driven by demand for niche perfumes, with items from brands like Jo Malone and Le Labo trading at an average of 33% below their retail price. Consumers are reportedly flocking to KREAM to find these high-end fragrances at more accessible prices than those offered by department stores or official retailers. The influx of perfume buyers has also spurred increased transactions in other beauty segments. In the first half of the year, eye makeup transactions grew by 366%, skincare by 332%, and men's beauty products by 175%. The platform's expedited shipping service, "Fast Delivery," is particularly popular among beauty shoppers, accounting for about 70% of beauty transactions, a figure 20 percentage points higher than KREAM's overall average. Gift-giving is also a factor, with KREAM's "Shopping Bag Included" option proving highly popular, seeing a ninefold increase in usage within three weeks of its official launch. To further capitalize on this trend, KREAM is hosting a "Beauty Week" event offering discounts and coupons on select products.

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The combination of reasonable prices, authentication services, and fast delivery is driving the rapid growth of beauty transactions.