2021
0
China Attitudes towards Prestige BPC Products Market Report 2021
2021-05-09T04:52:27+01:00
OX1046209
3695
137935
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Report
en_GB
“Serum and essence products are still the most popular skincare category in the prestige sector and the main pursuit is anti-aging related claims. Chinese female consumers continue to seek products…

China Attitudes towards Prestige BPC Products Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

“Serum and essence products are still the most popular skincare category in the prestige sector and the main pursuit is anti-aging related claims. Chinese female consumers continue to seek products that satisfy their high demands for skin solutions and are willing to trade up for products that offer advanced performance. Compelling brand stories and proven efficacy are the key to attract consumer stickiness, as well as providing emotional benefits. In the future, products with sustainable claims that focused on ingredients and texture are worth developing, since consumers are becoming savvier and have a higher requirement for brands to justify their premium prices.”
– Amy Jin, Research Analyst

This Report looks at the following areas:

  • Spend on different skincare products
  • Difference in image of international brands
  • Shopping behaviours amongst prestige brand users and reasons for purchasing
  • Preferred marketing offer
  • Reason for usage prestige skincare products
  • Consumers’ interests in CSR related features

Table of Contents

  1. Overview

      • Key issues covered in this Report
        • Definitions
        • Executive Summary

            • Market and competition
              • The consumer
                • Prestige skincare products show stable performance after the pandemic
                  • Figure 1: Money spent on different facial skincare products, January 2021
                • Domestic shopping websites become a leading channel
                  • Figure 2: Purchase channel used for buying prestige skincare products, January 2021
                • Better efficacy remains the most important reason for using
                  • Figure 3: Reasons for using prestige brands, 2020 vs 2021
                • International prestige brands are seen as professional skincare solutions
                  • Figure 4: Image associated with prestige skincare brands, January 2021
                • Marketing strategy focus on skin solutions is more important
                  • Figure 5: Brand activities that increase favourability, January 2021
                • Ethical related claims are on the rise
                  • Figure 6: Interested sustainable activities for a prestige skincare brand, January 2021
                • What we think
                • Issues and Insights

                  • Launching prestige products customized to serve Chinese skin type
                    • Figure 7: NUMBER skincare set
                  • Legacy means more than just history
                    • Figure 8: Vive brand story
                  • Focus on creating value to justify premium prices
                    • Figure 9: L’Oréal celebrating 50 years of its slogan on International Women’s Day, 2020
                • Market and Competition – Key Takeaways

                  • Opportunities for local brands entering prestige market
                    • Long-established brands continue to upgrade iconic products
                    • Market Factors

                      • Competition from domestic brands
                        • Prestige brands acquiring niche brand
                          • Relaxed policy on animal testing means more ethical brands enter China market
                            • Live streaming continues to heat up
                            • Competitive Strategies

                              • Brands continue updating classic iconic products
                                • Figure 10: Prestige brands with upgraded iconic products, China 2020
                              • Gamifying an icon
                                • Figure 11: Serum Quest by Estée Lauder, US 2020
                              • Launch pop-up stores to support duty-free shops
                                • Figure 12: Pop-up stores in Hainan, China 2020
                              • Domestic brands build up prestige brand image by promoting technology
                                • Figure 13: Quadha brand story
                              • Methods of product application to enhance efficacy and professional image
                                • Figure 14: Brands’ posters on products application
                            • Launch Activity and Innovation

                              • More prestige skincare products launched compared to previous years
                                • Figure 15: Price positioning of new product launches in facial skincare category, China, 2018-20
                              • Prestige products focused on anti-aging related claims
                                • Figure 16: Top 10 claims in prestige facial skincare products launches, China, 2020
                              • Rose petal concentrate ingredients became a popular ingredient
                                • Figure 17: Newly launched prestige skincare products with rose ingredients, China, 2020
                              • Prestige make up brands entering skincare
                                • Figure 18: Jones Road eye/facial cream, US, 2021
                                • Figure 19: Charlotte Tilbury magic cream, UK, 2020
                              • Extend product range from iconic products
                                • Figure 20: Product set from Fresh Guyuan and Helena Rubinstein green bottle, China
                            • The Consumer – Key Takeaways

                              • Spending per each skincare category unchanged
                                • Domestic comprehensive shopping websites becomes a key channel
                                  • To get better results is still the top reason for using
                                    • International brands boast a professional image
                                      • Chinese consumers are looking for products designed for their skin
                                        • Sustainable activities are the new trend
                                        • Price Spent on Different Skincare Products

                                          • Spending habit on prestige skincare products unchanged by COVID-19
                                            • Figure 21: Money spent on different facial skincare products, January 2021
                                            • Figure 22: Average spending on different facial skincare products, 2020 vs 2021
                                        • Purchase Channel

                                          • Online channels become a key shopping destination
                                            • Figure 23: Purchase channel used for buying prestige skincare products, January 2021
                                          • Younger consumers prefer to buy from social media sites
                                            • Figure 24: Purchase channel used for buying prestige skincare products, by age, January 2021
                                            • Figure 25: Gen Z unboxing Chanel cotton
                                            • Figure 26: Types of purchase channel used for buying prestige skincare products, by age, January 2021
                                          • Offline counters attract affluent consumers and lower tier residents
                                            • Figure 27: Purchase channel used for buying prestige skincare products – ‘counters in department stores’, by selected demographics, January 2021
                                        • Reasons for Using Prestige Brands

                                          • Efficacy remains the key driver for usage
                                            • Figure 28: Reasons for using prestige brands, 2020 vs 2021
                                          • Emotional benefits increase with age
                                            • Figure 29: Selected reasons for using prestige brands, by age, January 2021
                                            • Figure 30: L’Oréal campaign on International Women’s Day, China, 2020
                                          • Younger consumers show stronger conformity than older generations
                                            • Figure 31: Selected reasons for using prestige brands, by age, January 2021
                                        • Brand Perception

                                          • International brands do well in building up a professional image
                                            • Figure 32: Image associated with prestige skincare brands, January 2021
                                            • Figure 33: Shiseido’s refillable bottle, Japan, 2020
                                          • Younger consumers regard Chanel and Dior as fashionable
                                            • Figure 34: Image associated with prestige skincare brands – Chanel and Dior, by age, January 2021
                                          • Whereas SK-II’s marketing successfully recruits younger consumers
                                            • Figure 35: Image associated with prestige skincare brands – SK-II, by age, January 2021
                                        • Marketing Strategy Focus on China

                                          • Suitable for Chinese skin condition is the key
                                            • Figure 36: Brand activities that increase favourability, January 2021
                                          • Consumers with higher income pay more attention to innovations
                                            • Figure 37: Selected brand activities that increase favourability, by income, January 2021
                                        • Interested Sustainable Activities

                                          • Sustainability is worth attention now
                                            • Figure 38: Interested sustainable activities for a prestige skincare brand, January 2021
                                            • Figure 39: Lancôme offering reusable filler
                                          • Young consumers have stronger feelings towards cruelty free
                                            • Figure 40: Selected interested sustainable activities for a prestige skincare brand, by age, January 2021
                                          • Organic ingredients drive affluent consumers’ affinity
                                            • Figure 41: Sustainable activities interested in a prestige skincare brand, by monthly personal income, January 2021
                                        • Appendix – Methodology and Abbreviations

                                          • Methodology
                                            • Abbreviations

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