An overview of China’s cosmetic market trend From White paper on Chinese cosmetic market
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The following is the An overview of China’s cosmetic market trend From White paper on Chinese cosmetic market recommended by recordtrend.com. And this article belongs to the classification: Deloitte Consulting , Life data, research report.
Deloitte released the first white paper on China’s cosmetics market: an overview of China’s cosmetics market trends. As the preface of the white paper series, the report analyzes the major recent development trends of China’s cosmetics industry, and reviews the major events in the industry from March 2019 to April 2020. The white paper series will launch other theme reports, covering consumer insight, the rise of niche brands, and the evolution of collection stores.
Under novel coronavirus pneumonia, the cosmetics industry was affected by factors such as home segregation and consumers’ dependence on retail outlets, and the performance declined sharply. However, with the gradual improvement of the situation of epidemic prevention and control in China, the process of returning to work and production of offline consumer industry is speeding up, consumer confidence is gradually rising, and the online retail channel is improving day by day.
Zhang Tianbing, managing partner of Deloitte Asia Pacific consumer goods and retail industry, said: “after the epidemic, relying on online emerging business models such as social media and live delivery, as well as the emergence of overseas minority cosmetics brands, China’s cosmetics industry will present a trend of digital and diversified development. Deloitte believes that with the gradual disappearance of the epidemic situation, consumers’ demand for cosmetic products is experiencing a strong rebound. In addition, China’s consumers’ pursuit and upgrading of beauty, the rise of domestic products, the marketing of new media and the help of capital in recent years jointly promote the medium and long-term development potential of China’s cosmetics market
Wang Yi, managing partner of Deloitte’s China consumer goods and retail industry financial consulting, said: “there is still a huge space for development in China’s color makeup market, especially in the second, third tier and lower tier cities, whose consumers are still relatively early in contact with cosmetics products. As the consumption of color makeup extends from single lip makeup to other categories, China’s color makeup market will accelerate the pace of diversified development in the future. “
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