GMV over $1.39 million! Korean cosmetic brand COSRX ranked top on TikTok Shop US｜EchoTik
TikTok Shop U.S. market continues to grow. According to EchoTik's Marketplace Big Board statistics, in the last week, from September 18th to September 24th, total GMV has reached $31.8 million, with an average daily GMV of $4.5 million. The highest sales were made on September 22nd with over $8 million. This number will continue to grow.
Cosrx, which has been in the top 5 of the care and beauty hot list for 3 consecutive months since TikTok Shop's small US store began operations, is the only skincare brand from Asia. Whether it's from the June to August hot list or the list of the best-selling items in the last 30 days, you can see this serum from Cosrx, and it even shot to the top of the hot list in July.
- Product Name: COSRX Advanced Snail 96 Mucin Power Essence 100ml
- Explanation: This product is the COSRX Advanced Snail 96 Mucin Power Essence. It is a lightweight essence that contains 96% snail secretion filtrate to hydrate, nourish, and repair the skin. Snail mucin is known for its ability to promote skin regeneration, improve elasticity, and reduce the appearance of fine lines and wrinkles. This essence is suitable for all skin types and can be used as a part of your daily skincare routine.
- Target Users: This product is suitable for anyone looking to improve their skin's hydration, texture, and overall appearance. It is especially beneficial for those with dry or aging skin concerns.
According to EchoTik's TikTok Beauty and Personal Care Industry Trend Report, in the North American market, the average price of the beauty and personal care category is at $21.4. This original liquid is inexpensive and focuses on the sinking market. The average customer unit price is $5/100 ml. Consumers also choose the price of 2 pieces of $17.60 and 3 pieces of $29.50 to increase the repurchase rate with promotion. According to EchoTik, the SKUs with the most orders are 2-piece combos, followed by 3-piece combos.
In the past 30 days, a total of 278 videos have brought goods for this product, with an average of 131,600 plays, and moreover attracted the interest and attention of countless netizens, bringing a 2.65% product conversion rate (product sales/video views) and $51.41 GPM (turnover amount per 1,000 views), which is at a higher level when looking at other skincare products on TikTok.
KOLs who promote Cosrx serums usually show their full face and shoot the whole time without filters to restore the real skin condition to gain the trust of their fans. In addition to showing the packaging, materials, and uses of the item, they also include the product's efficacy and ingredients on the screen, attracting a lot of attention and interest from those with specific skin concerns. The length of the video is usually limited to 15 seconds to 1 minute.
The video shown below has 230,000 likes and favorites. The influencer promotes the product by responding to the question "What daily skincare products do you usually use?", which is a marketing technique that is more relevant to the lives of netizens, and thus triggers a lot of likes and favorites from netizens, who then pay for the product.
COSRX, a skincare brand from South Korea, was founded in 2002 and eventually formalized in 2013 as "Cosmetics + Rx = COSRX" COSRX believes that cosmetics should bring more than just external beauty. They are committed to helping individuals find solutions to their skin conditions. They strive to help their customers gain confidence and ultimately find their own unique inner beauty.
In addition to TikTok, the main sales channels include the brand's independent website, e-commerce websites (e.g. Shopee), beauty and skincare online collection stores (e.g. Lookfantastic), and offline stores (e.g. Watson's) in the layout. Currently, the brand sells its products in 146 countries and has won 119 global beauty awards between 2014~2021.
COSRX categorizes products based on type, skin concerns and ingredients. They offer a comprehensive range of options to meet different skincare needs - ranging from basic cleansing products to professional care products. Ensuring that customers are able to find the right product option for their specific needs.
COSRX also specializes in addressing specific skin concerns. They offer solutions for acne and blemishes, anti-aging, dehydration, pore problems, dullness, redness, and irritation. The various skincare ingredients and their corresponding efficacy are the selling points that make the products attractive for people to order. The ingredients used by COSRX include snail essence, Retinol, propolis, and AHA/BHA. These ingredients have specific benefits to fulfill different skincare needs.
In recent years, Korean skincare products are booming in the North American market and are highly sought after by consumers. North American consumers uphold a comprehensive skincare philosophy that reflects their attitude toward the enjoyment of beauty. This attitude is largely influenced by Korean skincare programs, creating a strong connection between the two markets.
Female consumers are particularly attracted to Korean skincare products, with a growing preference for light textures and unique natural ingredients. Korean skincare products are also emerging in the market with their innovative and attractive packaging, becoming the center of consumer attention. According to official statistics from Market Data Forecast Analysis in the U.S., the market size of Korean skincare products in the U.S. will reach $20 billion in 2027 at a CAGR of 11.3%, from $10 billion in 2022. The women's market is expected to continue to grow and account for the largest share of the Korean skincare market. At the same time, the distribution channel of specialty and branded stores will be the main sales channel for Korean skincare products in the North American market. As a result, the market for Cosrx in North America is also expected to continue to climb.
EchoTik.live( https://echotik.live) is a third-party platform for analyzing international TikTok short videos and live e-commerce data. We have currently received angel round financing in the tens of millions. Based on big data and continuous exploration in the field of AI, EchoTik ( https://echotik.live ) closely caters to user needs, driving product and service iteration and upgrades. We help global sellers, creators, MCNs, and brands to access easy marketing methods for short videos and live streaming rooms, enabling them to sell and promote products.
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