Spending on beauty up in China, despite cooling economy
By Lucy Whitehouse +, 27-Jul-2016, cosmeticdesign-europe
Chinese consumers are still keen to spend on beauty in China, according to newly released research from Mintel, with the majority of those surveyed stating they spent more on facial skin care in 2015 compared to 2014.
In 2014-2015 the total retail sales of cosmetics in China grew about 12%, as the article points it out and reached therefore the RBM 204.9 billion. According to Mintel the forecast for 2020: There will be still a high demand that will translate itself until 2020 into a RMB of 338 billion.
The senior beauty and personal care analyst at Mintel explains that Chinese purchases move to online retailing, wherefore marketing will be key success factor for Chinese beauty brands. The number of consumers using mobile devices when paying their beauty products has doubled during the past 2 years.
As Chen believes “mobile is becoming the battlefield for beauty retailers”. The next challenge is therefore to engage customers through a pore personalized and targeted presentation of the offers.