Herbal cosmetics are cosmetics that made or contained certain effective ingredients in Chinese medicinal materials that have cosmetic effects, which makes them more popular not only in the Korean market but also in the world. In particular, as China,...
Herbal cosmetics are cosmetics that made or contained certain effective ingredients in Chinese medicinal materials that have cosmetic effects, which makes them more popular not only in the Korean market but also in the world. In particular, as China, a large population country, occupies a large market share due to the influence of the Korean Wave, it is drawing attention as an export-oriented product to enhance global competitiveness.
The purpose of this study is to compare and analyze the effects of purchase propensity, purchase determinants on herbal cosmetics repurchase intention between Korean and Chinese female consumers. To accomplish the aforementioned purpose, a survey has been conducted among female consumers in Seoul, Korea, and Beijing, China who had bought herbal cosmetics. The final analysis of this survey is based on the interviewers of a total of 410 people including 205 people in Korean and 205 people in China. This study aims to provide basic data and information for cosmetic companies to ensure competitiveness in the Korean and Chinese markets, seize the domestic market in each country, and establish multifaceted marketing strategies in the future.
This study especially analyzes the purchase propensity, purchase determinants and repurchase intention of Korean and Chinese female consumers for herbal cosmetics. This will ensure cosmetic companies reconsider and formulate market strategies to indicate their development directions.
The main results and suggestions are summarized as follows.
First, according to the differents results between the target consumers' purchasing propensity, purchase determinants, and repurchase intention, Chinese consumers show higher purchase propensity because of rational purchase propensity and conspicuous consumption propensity, and higher brand determinant and product determinant are shown in purchasing determinants.
Therefore, companies that want to enter the Chinese herbal cosmetics market must establish a marketing strategy that enhances the quality of their products to meet the rational purchasing tendency and at the same time enhances the brand image to satisfy the conspicuous consumption tendency.
Second, according to the general characteristics of Korean consumers and differences in purchase propensity, purchasing determinants, and repurchase intention, The purchase determinants are higher in the group of unmarried people, students and people who work in specialized fields. Moreover, the higher the education, and the lower the age, the higher the purchase determinants. Therefore, companies seeking to enter the Korean herbal cosmetics market need marketing strategies for brand image management to achieve the purpose of pursuing a luxurious and youthful style and freeing from the existing perception that cosmetics are used by high aged groups.
Third, when evaluating the relative influence of factors that affect the repurchase intention of Korean consumers, impulsive purchase propensity, product purchase determinant, and brand purchase determinant are in order.
Fourth, when evaluating the relative influence between factors that influence Chinese consumers' repurchase intention, brand determinant, impulsive purchase propensity, and conspicuous consumption propensity are in order. It can be seen that the more impulsive and showy tendencies of Chinese consumers along with their preference for foreign brands, the higher their intention to repurchase oriental medicine cosmetics. This is because Chinese consumers prefer new brands and have a strong sense of face, so it is thought that the brand determinant and impulsive and showy purchasing propensity influence the repurchase intention.
Summarizing the above results, it appears that female consumers in Korea and China have differences in purchasing propensity, purchasing determinants, and repurchase intention. The results of this study can be used as basic data to help Korean cosmetic companies to increase the competitiveness of herbal cosmetics in establishing marketing strategies when entering the Chinese market, and it is expected to promote the vitalization of the cosmetics and beauty industries in China.