The price of cosmetics is experiencing a downward trend on the back of a slowing industry and free trade agreements designed to ease the tariffs on such products.

On Thursday, Shiseido of Japan said it would be lowering the prices of three top-selling sunscreen products from its Anessa line by 5,000 won ($4.60), starting next month.

Stila, a U.S.-based cosmetics brand, has slashed prices on 120 products since last week, with discounts of up to 10 percent.

Stila’s One Step Correct, which cost 62,000 won, dropped to 58,000 won, while the convertible color was reduced to 38,000 from 42,000 won.

“This is not a temporary reduction, but a decision based on many factors, mainly the free trade agreement with the United States that ease the tariff duties,” said a Stila spokesperson.

Others, however, saw a downturn in the cosmetics industry as one of the bigger reasons explaining the price cut.

Starting at the end of last year, other high-end makeup brands such as Lancome, Dior and Estee Lauder all lowered their prices or boosted their product sizes.

The industry has been suffering on the back of sluggish global markets.

By Kim Ji-hyun (jemmie@heraldcorp.com)