A recent report conducted by Daehaknaeil Research Laboratory for the Twenties, a market research institute specialised in young adults in their 20s, revealed Korean millennials’ favourite brands for 2019.
For the purpose of this study, the agency looked at the most popular products and services within men and women aged 19-34, and compared every company according to a Millenial-Z Generation Brand Power Index (MZ-BPI), which combines Brand Awareness, Brand Loyalty and Brand Image.
Brand Awareness is determined by Top-of-mind-awareness (최초상기도) and Aided awareness (보조인지도), whereas brand loyalty is calculated based on Customer preference (선호도) and Purchase Intention (확장구매의향). Lastly, Brand Image is subject to Value for Money (가격 대비 가치) and Fashionability (트렌디함).
Within beauty brands, the Korean Innisfree was ranked first with a total of 47.8 points (scoring 4.8 points in Brand Image, 31 in Brand Loyalty and 12.1 in Brand Awareness).
Next we find Chanel with a score of 30.1 points, Yves Saint Laurent with 29.1, Hera with 25.7 , Missha with 24.4, Etude House with 23.5, Mac with 22.6, Tonymoly with 20.8, Dior with 20.1 and Clio with 15 points.
What really surprises about this study, is that men are revealed to be Innisfree’s biggest supporters, giving the brand a total score of 50.1. Women, on the other hand, gave the company only 45.6 points.