seoul
English, Korean
Soomin works as a Research Analyst in Euromonitor's Seoul office, across a diverse range of industries.
Soomin's primary research focus is service and payments and retail industries in South Korea. Her research perspective is positively informed based on experiences living in both South Korea and the US. In her prior role, Soomin worked as a business development consultant at KOTRA's Chicago office. During that time, she gained research and marketing experience of the US, over multiple industries, including fmcg, automotive and other manufacturing industries.
Retailers are navigating disruption from generative AI, new technologies, economic shifts, and changing consumer behaviours. This article examines how retailers are integrating GenAI and evolving their social media strategies to build closer, personalised connections with customers.
In 2024, US beauty and personal care e-commerce sales increased by of 16%. The share of beauty and personal care sales taking place online also increased, from 35% to 39%. Within this expanding digital landscape, Amazon further solidified its dominance, 47% market share in 2024, an increase from 44% in 2023. Meanwhile, Sephora, the second-argest online retailer for beauty and personal care in the US, experienced a slight market share dip from 10% in 2023 to 9% in 2024 despite growing value sales.
The global online marketplace landscape is evolving rapidly, driven by technological innovations, shifting consumer behaviours and fierce competition. Established giants must increasingly contend with fast-growing upstart platforms, creating new opportunities for brands and sellers.