Why it matters: Coupang (NYSE: CPNG) has launched Rocket Luxury, a new segment dedicated to luxury beauty brands, to enhance the shopping experience for customers.
The move represents a significant development in the region's online retail sector.
It is expected to reshape the dynamics of the luxury beauty market.
The Key Points:
- Launching on July 3, 2023, Rocket Luxury will feature 16 leading local and international luxury beauty brands, including Estée Lauder, MAC, Bobbi Brown, Clinique, Hera, and L'Occitane.
- All products are 100% authentic, sourced directly from the brand's South Korean legal entity, and available for purchase through Coupang's Rocket Delivery service.
- The platform has tried to enhance the customer experience by offering luxurious branded packaging for orders and a Rocket Gift service for gifting items.
- The platform is organized into different sections for efficient navigation, and exclusive sets of best-selling products from each brand are available.
- Regardless of the luxury status of the products, WowMembers are offered free shipping and returns.
The Big Picture: Coupang's move to include luxury beauty brands follows the establishment of its Beauty Data Lab in late 2021, which uses data from 19 million active customers to drive innovation and stay on top of the latest market trends.
Byung-hee Lee, head of Coupang's retail division, affirms that all Rocket Luxury products are genuine, which can build consumer trust in the platform.
The new service is expected to shape the future of luxury beauty shopping, bringing a new standard of convenience and customer service to the industry.
