Olive Young / Kpopmap
Every year, Olive Young, the famous beauty and health retail brand in Korea, celebrates the most outstanding brands and top-selling beauty products. The 2023 edition took place during an in-person ceremony held at Seoul’s iconic Dongdaemun Design Plaza from December 13th to 17th.
Here are some of the key trends of 2023 stated during the ceremony.
- Inner Beauty: The distinction between beauty and health is fading away. Emphasizing the importance of nurturing oneself from within through supplements for example.
- Clean Beauty: 2023 has been a shift towards more meaningful and ethic consumption.
- New Luxury: Consumers, in general, are being more careful when selecting brands, with a growing interest in home-spa products like beauty devices.
- FOBO: The "Fear of Better Option" phenomenon manifests as individuals lean towards others have bought.
- Early Care: A trend in early care emerges as people in their early twenties start to already adopt aging care routines.
Shedding light on the latest trends in K-Beauty, this year Olive Young Awards Festa saw an overwhelming response, with 15,000 tickets selling out in just 30 seconds. A total of 79 brands, including renowned names like Goodall, Dr. G, and Round Lab, participated in this prestigious event. The results for 2023 were determined by analyzing over 150 million purchase records collected between July 2022 and June 2023, providing a glimpse into the ever-evolving world of Korean beauty.
Winners of the 2023 Olive Young Awards
Olive Young
Best Toner of 2023: Round Lab – 1025 Dokdo Toner, buy here
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