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China’s Consumer Price Wars Are Coming for Botox and Skincare
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The Business of Fashion
Still, the company sees further room to cut prices, approaching the cost of treatments in South Korea, the global benchmark for cut-rate cosmetic work.
Already, e-commerce giant JD.com Inc. has opened two Beijing cosmetic clinics that undercut even So-Young on some procedures.
So-Young aims to not only undercut the local industry, but ultimately offer low enough prices to stop Chinese shoppers from traveling to South Korea for procedures.
Products like Botox offered in South Korean clinics are priced as low as around $30 for 100 units — or about 20% of what So-Young charges.
So-Young plans to lean on convenience to entice customers who’ve made treatments like Botox part of their routine, Jin said.
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'chinese'
'korea'
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'coming']