Musinsa Beauty store in Seoul earns $183,000 in its first three days
The first standalone Musinsa Beauty store in Hongdae, Seoul, South Korea, generated more than 250 million won in revenue, or about $183,000, during its first three days of operation. Foreign visitors accounted for a significant share of its customers, Korea Herald reports, citing the fashion platform operator.
Store in Hongdae
Musinsa Beauty Hongdae opened on Friday. The store covers 1,322 square meters and is located across three levels. The two above-ground floors feature color cosmetics, fragrances, skin, hair and body care products, as well as men's grooming products.
Beauty Onnuri Pharmacy operates in the basement. There, customers can receive consultations from pharmacists and purchase high-efficacy cosmetic products.
More current news is available on the UA.News Telegram channel Telegram.
Share of foreign shoppers
Musinsa chose Hongdae for its offline beauty retail debut because of the district's popularity among foreign tourists and women in their 20s and 30s who are interested in beauty products.
During the first weekend, women accounted for 76% of the store's shoppers. More than 80% of female customers were aged 20 to 39. On Friday and Saturday, foreigners made up about half of customers, while on Sunday their share rose to nearly 60%, exceeding the share of Korean shoppers. The purchase conversion rate among foreign visitors was approximately twice as high as the average at Musinsa's other offline stores.
Popular products included brands with limited presence in major cosmetics chains. The colored contact lens curation platform Phonfisch was among the sales leaders among both Korean and foreign customers. Korean shoppers more often chose color cosmetics from Risky, Snidel Beauty and Mude, while foreigners preferred dermocosmetics and skincare products from Oganacell, Dr. Melaxin and Dr. Althea.
