Why a B2B marketplace for the Korean cosmetics industry?

COVID-19 has accelerated the transition from offline to online B2B trade

COVID-19 has changed how B2B buyers and sellers interact. During normal circumstances, international buyers and sellers would attend international exhibitions in order to meet new business partners. 

Although B2B trade has been changing for a longer period of time, COVID-19 has accelerated the need to transition from an offline to an online approach to meeting new partners. 

International beauty exhibitions are no longer a viable solution for meeting international partners, and both buyers and sellers are desperately looking for online alternatives.

The role of B2B marketplaces

As in-person events are increasingly difficult to attend, online alternatives are gaining traction. 

These days, people are generally familiar with B2C marketplaces and matching platforms. A platform with a similar user experience for the purpose of B2B trade reduces the need to be educated in a totally new way of communicating online. This makes B2B marketplaces a suitable alternative for international trade.

For buyers, B2B marketplaces offer transparency and it is easy to compare a wide range of suppliers in one place. 

For sellers, it is an opportunity to leverage the user base and trustworthiness of the marketplace. A serious marketplace works to make the buying experience as smooth as possible, greatly elevates a seller's incentive to be present on the platform. 

Sellers that do not adapt to online B2B marketplaces face the risk of becoming obsolete on the international stage.

Why a niche marketplace for K-Beauty?

You might think that Alibaba and Amazon are the only go-to destinations for B2B buyers and that there is no room for other players.

That is most certainly wrong. Yes, the big players have a wide variety of product categories, and their platforms are trustworthy and easy to use. However, they are extremely generalized in their offering, they do not work day in and day out being thought leaders and promoters for a single industry. 

We believe that K-Beauty is a brand. Just like Norwegian Salmon is a brand, Sparkling Wine from Champagne is a brand, Scotch Whisky is a brand.

K-Beauty is a brand that deserves to be treated with pride and care when presented to the world. K-Beauty Connect aims to represent Korean cosmetic suppliers in a transparent and trustworthy manner, with the goal of maintaining and strengthening the K-Beauty brand globally.

K-Beauty connect will be the platform of choice for buyers looking for the great brand promise that is K-Beauty, national pride of South-Korea.

K-Beauty suppliers have a desire to be present on the platform that only cares about making their industry attractive to the rest of the world.

International buyers, whether you are a cosmetic retailer, direct to consumer brand or professional procurement specialist, you want to deal with a B2B marketplace which is the #1 expert on the products you are in the process of buying.

Why are we qualified to the be the #1 destination for K-Beauty suppliers?

The initial need for k-Beauty Connect was spurred by KOECO, the Korean Exhibition Company. KOECO has two decades of experience as the organizer of Korean pavilions at international beauty exhibitions across the US, Europe, China, South-East Asia, and the Middle East. As for so many others, COVID-19 took away KOECO’s ability to serve its customers.

The CEO of KOECO wanted to collaborate with us, with the goal of building an alternative to KOECO’s core business. They saw the need to quickly transition from offline to online, and they believed working with young professionals with international marketing experience was the key.

Our mission is to build a platform that serves as a destination for international cosmetic buyers with a strong interest in the Korean cosmetics industry. In order to be that destination, we need sellers, a lot of sellers. With their deep connections in the Korean cosmetics industry, KOECO has made a commitment to bring thousands of suppliers to K-Beauty Connect. 

Our strategic partnership with KOECO gives us a head start to become the platform we aspire to be. 

We are thrilled about K-Beauty, w am thrilled about the upcoming launch of K-Beauty Connect, and we are thrilled about the upcoming years of hard work.

We are off to an amazing start, and we see great times ahead.