Codes and seduction: what trends for the Chinese beauty industry?
Coveted by the cosmetics industry and keen on skincare, China has also been able to impose its codes and its vision in this very competitive sector. Emerging trends to which the major brands are striving to respond in order to seduce this ever growing market. But what are the new concerns of the Chinese clientele and how can they best be addressed? Analysis.
A growing market
More connected, more sensitive and more engaged, the Chinese clientele confirms its weight and its leading role in the beauty sector.
Indeed, beauty in China was estimated in 2021 at 34.6 billion euros, and should reach 49 billion euros in 2024, which makes it the largest cosmetics market in the world. Significant figures that concern more particularly skincare products (especially anti-aging creams and serums) but also make-up, the perfumery sector and no gender ranges.
At the top of the shopping list? Mostly young people: in 2019, 18-25 year olds represented 39% of the clientele.
As Thibaut de La Rivière, director of Sup de Luxe, points out, "This surge is due in particular to digitalization, the advent of virtual reality and, above all, to the share of e-commerce in general strategies. The proof is in the pudding, as e-commerce now represents more than 10% of sales. An essential element in capturing and building the loyalty of this generation".
Specific codes and new concerns
Beyond this youthful craze, many other trends are visible and it is crucial for brands that want to maintain their positioning and status in China to understand and master them. Among these key market codes, we find :
Moving towards the top of the range seems to have become a general rule and even a priority. Indeed, more than marketing appeal, it is the idea of performance and advanced research that seduces Chinese customers. The importance of social status is also an integral part of the process and everything seems to converge towards a dynamic of purchasing premium products, especially when it comes to personal care and cosmetics.
Health as a vector:
This valorization of luxury is also reflected in the new relationship and considerations of the Chinese towards health. Health crisis, counterfeit drugs, long term risks ... Today, customers want total transparency and do not hesitate to trust brands offering functional skincare and integrating the notion of parapharmacy in their discourse. A perfect illustration is the success of the Skinceutical brand of L'Oréal and its strategic positioning between dermatology and aesthetics.
The eco-responsible challenge:
Another crucial trend to consider is the ecological awareness.
What was only a utopia a few years ago is now a reality. More informed and more sensitive, Chinese customers are demanding clean formulations, ethical commitments and more controlled traceability. Natural, vegan, organic... The big names in beauty have an interest in adapting to continue to exist in this competitive and constantly changing market.