Over 2016-2021 hairdressing and beauty treatment industry is projected to see a 3% CAGR in revenue, fuelled by popular K-pop culture, booming beauty product market, and growing demand for anti-ageing beauty and hair care services
In 2016 Samsung presents its transparent mirror display at a Seoul hair salon, allowing hairdressers to provide interactive consultations and allowing customers to test different hair colours and styles
As domestic market is overcrowded with beauty products, beauty salons experience growing demand for more exotic skin care treatments, such as using snail- or human placenta-based beauty services
Households’ expenditure on hairdressing and beauty treatment services records less than 1% increase as household debt grows and unemployment reaches 4% – the highest rate since 2010
In 2016 hairdressing and beauty treatment industry’s revenue growth remains relatively flat, negatively affected by growing unemployment and households’ surging debt in the country
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