The Beauty Boom: Lipstick Sales Reach New Heights in Early 2024

Lip Market Performance Overview

<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/80d96a8c-6949-4f94-0ec3-39ba64b19700/public" alt="Picture: GMV growth of Lip Category” />The Gross Merchandise Value (GMV) of the lip market reached IDR 516.6 billion. With 16.7 million products sold on Shopee and Tokopedia, this surge explains why the lip market is on fire lately. “However, there has been a 14.7% decrease compared to Q3 2023, which reached IDR 605.8 billion,” stated Wilhendra.

Market Share by E-commerce

<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/4d16421c-5e20-4ccb-8b7e-7970c1215000/public" alt="Picture: E-commerce market share of Lip category” />The overall share shows that Shopee dominated the market from January to March 2024 with a 77.3% share, leaving Tokopedia with only 22.7%. Despite Shopee’s dominance as the preferred marketplace, Tokopedia showed more growth compared to Q4 2023. Tokopedia saw a 2.5% increase in GMV, while Shopee experienced an 18.7% decrease.