Here are a few key takeaways from the Chinese language report:
Traditional marketing methods such as sales promotions or using popular models have begun to cool down. Instead, content that can bring emotional satisfaction has gained more praise.
The demand for anti-aging, anti-oxidant & sun protection is rapidly drawing attention from consumers.
Niche categories that cater to consumers' psychological demands such as ‘exquisite upgrades’, ‘skincare for lazy people’ etc. are gaining attention. For example, searches of disposable facial masks increased by 857% YoY.
Sales of toners, cleansers & eye care products are more driven by hero products, whereas make-up, facial masks, sunscreen products are more driven by WOM recommendations.
Foreign brands account for 53% of the industry’s best-selling products, showing strong competitiveness in the creation of hero products. On the other hand, local brands are more active in the creation of new products, contributing nearly 80% of the new products in the category.