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Description

Description

“Scientific factors including ‘developed by experienced researchers’ and ‘uses advanced processing technique’ are the top features linked with a prestige brand image, which implies that brands need to focus on developing better products instead of allocating their budgets on marketing-related activities, since consumers are constantly seeking better results to justify the premium prices they are paying.”
– Amy Jin, Research Analyst

This report examines at the following areas:

  • Focus on anti-ageing benefits as well as the basic need for moisturising
  • Consumers seek better results from prestige brands but also know their limitations
  • Brands using scientific techniques and delivering innovative images are capturing the prestige market

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Covered in this report
        • Subgroup definitions (Prestige Products Users)
        • Executive Summary

            • Market and competition
              • The consumer
                • Facial serum and eye cream are the top products in spend
                  • Figure 1: Money spent on different products, February 2020
                • Estée Lauder and Lancôme capture large market share
                  • Figure 2: Top prestige skincare brands used in the last six months, February 2020
                • Increase skin’s firmness/elasticity is the top purpose for using prestige products
                  • Figure 3: Benefits sought when using prestige products vs regular products, February 2020
                • Advanced R&D is the key to obtaining prestige image
                  • Figure 4: Features associated with prestige skincare brands, February 2020
                • To get better results remains the top reason
                  • Figure 5: Reasons for using prestige brands, February 2020
                • Most consumers believe prestige skincare brands have the best innovation technique
                  • Figure 6: Attitudes towards prestige products, February 2020
                • What we think
                • Issues and Insights

                  • Focus on anti-ageing benefits as well as the basic need for moisturising
                    • The facts
                      • The implications
                        • Consumers seek better results from prestige brands but also know their limitations
                          • The facts
                            • The implications
                              • Brands using scientific techniques and delivering innovative images are capturing the prestige market
                                • The facts
                                  • The implications
                                    • Figure 7: Estée Lauder’s product story
                                    • Figure 8: Helena Rubinstein brand story
                                • Market and Competition – What You Need to Know

                                  • Niche international brands joining Chinese market
                                    • More ways of enhancing prestige brand image
                                    • Market Overview

                                        • Figure 9: Price positioning of new product launches in facial skincare category, China, 2017-2019
                                        • Figure 10: Price positioning of new product launches in facial skincare category, by sub-category, China, 2019
                                        • Figure 11: Money spent on different products, February 2020
                                    • Market Factors

                                      • Niche brands to enter prestige market in China
                                        • Figure 12: Niche brands opening Tmall official stores, China
                                      • Prestige brands secure high awareness through expanding retailing channels
                                        • Figure 13: Lancôme live streaming, China
                                      • Consumers prefer ingredient stories to upgrading to more premium products
                                        • Figure 14: Guerlain’s Abeille Royale serum, China
                                        • Figure 15: Decorte’s Emulsion First concept, China
                                      • Impact of COVID-19
                                        • Figure 16: BA live streaming on Tmall, China, 2020
                                        • Figure 17: Sulwhasoo’s new eye cream, China, 2020
                                    • Competitive Strategies

                                      • More marketing themes centring on female independence
                                        • Figure 18: L'Oréal Weibo post on International Women’s Day, China, 2020
                                        • Figure 19: Dior WeChat advert, China, 2020
                                      • Prestige brand image created through art exhibitions
                                        • Figure 20: SK-II art exhibition in Shanghai, China, 2019
                                        • Figure 21: Lancôme’s exhibition poster
                                      • Effective solutions for modern lifestyles
                                        • Figure 22: Clarins’ Recovery serum, China
                                        • Figure 23: Guerlain’s Midnight Secret moisturisers, China
                                      • Pairing with drinks to enhance beauty from both the inside and outside
                                        • Figure 24: Bio-E Lemon drink/Swisse juice drink, China
                                      • Show leadership in some areas
                                        • Figure 25: POLA white shot, China
                                        • Figure 26: Elixir eye cream, China
                                      • Who’s Innovating?
                                        • Flower extract ingredients
                                          • Figure 27: Facial skincare products with flower extract, China, 2019 and 2020
                                        • Anti-stress claims
                                          • Figure 28: Facial skincare products with anti-stress claims, Norway and US, 2020
                                        • More focus on dermocosmetics
                                          • Figure 29: Tula’s probiotic products, US, 2019
                                          • Figure 30: Dermocosmetics products, UK, 2020
                                      • The Consumer – What You Need to Know

                                        • Consumers are willing to pay more for facial serum than eye serum
                                          • Estée Lauder and Lancôme have the highest penetration
                                            • To increase skin’s firmness/elasticity and antioxidation are the top two reasons for using prestige brands
                                              • Using prestige brands to get better results and more confidence
                                                • Advanced R&Ds are the key to obtaining prestige image
                                                  • Prestige skincare brands are seen as having the best
                                                  • Price Spent on Different Skincare Products

                                                    • 38% of women are willing to pay over RMB500 for a facial serum
                                                      • Figure 31: Money spent on different products, February 2020
                                                    • Profile of prestige brand buyers
                                                      • Figure 32: Profile of prestige brand users vs. non-users, February 2020
                                                  • Prestige Skincare Brands Used

                                                    • Estée Lauder has the highest penetration
                                                      • Figure 33: Top prestige skincare brands used in the last six months, February 2020
                                                    • SK-II is preferred more by younger consumers
                                                      • Figure 34: Prestige skincare brands used in the last six months, by age, February 2020
                                                      • Figure 35: SK-II limited editions, 2020
                                                      • Figure 36: Estée Lauder Re-Nutriv
                                                    • Chanel and Dior snatch up more consumers in lower tier cities
                                                      • Figure 37: Prestige skincare brands used in the last six months, by city tier, February 2020
                                                  • Benefits Sought When Using Prestige Products vs Regular Products

                                                    • Increasing skin’s firmness/elasticity is the top purpose for using prestige products
                                                      • Figure 38: Benefits sought when using prestige products vs regular products, February 2020
                                                    • Prestige products face competition from other beauty methods when dealing with ageing concerns
                                                      • Figure 39: Benefits sought when using prestige products vs regular products – ‘neither’, February 2020
                                                    • Thirties and forties are turning points for using prestige products to treat fine lines and wrinkles
                                                      • Figure 40: Benefits sought when using prestige products vs regular products – ‘prestige products’, by age, February 2020
                                                  • Reasons for Using Prestige Brands

                                                    • To get better results remains the top reason
                                                      • Figure 41: Reasons for using prestige brands, February 2020
                                                      • Figure 42: Brand marketing claim
                                                    • Innovative product features becoming more of a winning factor
                                                      • Figure 43: Reasons for using prestige brands, 2018 VS 2020
                                                    • Professional services are perceived as having more importance
                                                      • Figure 44: Professional services offered, China
                                                    • Younger generations are more likely to be influenced by others
                                                      • Figure 45: Reasons for using prestige brands, by age, February 2020
                                                    • High-income consumers enjoy emotional benefits
                                                      • Figure 46: Reasons for using prestige brands, by monthly personal income, February 2020
                                                  • Features Associated with Prestige Skincare Brands

                                                    • Advanced R&D is the key to attaining prestige image…
                                                      • Figure 47: Features associated with prestige skincare brands, February 2020
                                                    • …whereas long brand history appeals to non-users
                                                      • Figure 48: Features associated with prestige brands, by usage, February 2020
                                                    • Spa service is a plus for high-income consumers
                                                      • Figure 49: Features associated with prestige brands, by monthly personal income, February 2020
                                                  • Attitudes towards Prestige Products

                                                    • Rise of domestic brands
                                                        • Figure 50: Attitudes towards prestige products, February 2020
                                                      • Provide more options to attract new users
                                                        • Figure 51: Yuesai’s natural product range, China
                                                        • Figure 52: Attitudes towards prestige products, by usage, February 2020
                                                      • Providing prestige product lines for younger consumers
                                                        • Figure 53: Attitudes towards prestige products, by age, February 2020
                                                        • Figure 54: myCLARINS blemishing cream, China, 2019
                                                    • Meet the Mintropolitans

                                                      • Similar brand usage among both Mintropolitans and non-Mintropolitans
                                                        • Figure 55: Prestige skincare brands used in the last six months, by consumer classification, February 2020
                                                      • Mintropolitans have stronger opinions about prestige brands
                                                        • Figure 56: Attitudes towards prestige products, by consumer classification, February 2020
                                                      • Mintropolitans are more interested in product R&D
                                                        • Figure 57: Features associated with prestige skincare brand, by consumer classification, February 2020
                                                      • Mintropolitans are looking for more professional services
                                                        • Figure 58: Reasons for using prestige brands, by consumer classification, February 2020
                                                    • Appendix – Methodology and Abbreviations

                                                      • Methodology
                                                        • Abbreviations

                                                        About the report

                                                        This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                                                        • The Consumer

                                                          What They Want. Why They Want It.

                                                        • The Competitors

                                                          Who’s Winning. How To Stay Ahead.

                                                        • The Market

                                                          Size, Segments, Shares And Forecasts: How It All Adds Up.

                                                        • The Innovations

                                                          New Ideas. New Products. New Potential.

                                                        • The Opportunities

                                                          Where The White Space Is. How To Make It Yours.

                                                        • The Trends

                                                          What’s Shaping Demand – Today And Tomorrow.

                                                        Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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