China Attitudes towards Prestige BPC Products Market Report 2022
£ 3,695 (Excl.Tax)
Description
“Younger entry in the category becomes prevailing and brands are now required to act fast and dig deeper product offering diversifications and channels strategies to better accommodate younger consumers’ needs on functional benefits and sensorial experience during use. Also lead the conversation and movement in tackling pressing social issues to build stronger emotional connection with consumers. Benefiting from COVID-19, online channel further boomed and serves as a place to both gather information and make orders. But brand counter still plays an important role in guiding trials to appeal young consumers and providing services and consultation to impress mature women. Brands can continue to polish the services and offer on both online and offline channels, to deliver a more seamless and effortless shopping experience.”
– Renee Gu, Senior Analyst
This report covers the following issues:
- Spend on different skincare products
- Starting age of using prestige skincare products
- Reasons for starting use of prestige skincare products
- Purchase channels and desired channel features for purchasing prestige skincare products
- Information source for prestige skincare products
Table of Contents
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Overview
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- Key issues covered in this Report
- Covered in this Report
- Subgroup definitions (Prestige Products Users)
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Executive Summary
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- Market and competition
- The consumer
- Spending on prestige skincare remains stable, and eye care products gain traction among young consumers
- Figure 1: Money spent on different facial skincare products, 2021 vs 2022
- Starting age of using prestige skincare becomes younger
- Figure 2: The age of consumers started to use certain types of prestige skincare products, 2022
- Prestige skincare products mainly adopted to manage signs of ageing early on as well as pleasant usage experience
- Figure 3: Reasons for starting using prestige skincare products, 2022
- Comprehensive shopping websites and brand counters are crucial in delivering key touchpoints for information
- Figure 4: Information source used for learning about prestige skincare products, 2022
- Online channels grew in popularity while offline channels are still indispensable
- Figure 5: Purchase channel of prestige facial skincare products, 2022
- Consumers desire a consistent treatment across channels, and real user reviews provide assurance for shopping online
- Figure 6: Desired features for purchasing channels, 2022
- What we think
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Issues and Insights
- Think about lowering the target consumers’ age further
- Resonate with consumers’ value, pioneering in discussion of social issues
- Figure 7: Kiehl’s Campaign in corporation with Zhouliuye Zoey, China, 2021
- Think about lowering the target consumers’ age further
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Market Factors
- Beauty groups acquisition, continue to expand its territories
- Tightened regulation on labelling brings challenges in delivering credible benefit claims
- The prevalence of age management triggers young consumers to trade up to prestige skincare products
- Figure 8: Selected treatment used to deal with aging, by age, 2021
- Beauty groups acquisition, continue to expand its territories
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COVID Influences
- COVID-19 China context
- COVID-19 impact on the market and consumer
- Financial status and spending confidence have got impacted already
- Purchase channels are also being disrupted, which impacts spending levels
- Figure 9: Spending change on beauty products – Spent less, by month, 2022
- On the positive side, consumers’ desire for luxury beauty products remains
- Production is disrupted, and prices of raw materials continue to rise
- COVID-19 China context
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Marketing Activities
- Societal marketing is on the rise, addressing more pressing social issues
- Figure 10: Lancôme write her future – The philanthropic programme, China, 2021
- Figure 11: YSL “Abuse is not love” campaign, China, 2021
- Safeguarding emotional and mental wellbeing
- Figure 12: Erno Laszlo’s Poppy Happy Box Skincare Set, USA, 2021
- Prestige brands are offering new options to attract younger consumers
- Figure 13: No.1 de Chanel, China, 2022
- Figure 14: Armani Crema Nera Liquid-to-Cream, China, 2021
- More prestige brands debut on emerging online channels to be less vulnerable in black swan events
- Societal marketing is on the rise, addressing more pressing social issues
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New Product Trend
- ‘Sugar’ concept in both anti-glycation and ingredient continues to be the hot topic in prestige skincare
- Figure 15: Pola B.A Lotion Immerse Moisturising Toner, China, 2022
- Figure 16: Decorté Hydra Clarity, China, 2022
- Tech innovation shift from diagnosis to prediction
- Figure 17: Kosé HADAmite Skin Diagnostic Tool, Japan, 2022
- Making potent ingredients less irritating
- Figure 18: Kiehl’s Retinol Skin-renewing Daily Micro-Dose Serum, China, 2021
- Figure 19: Clinique’s Smart Clinical Repair Wrinkle Correcting Serum, China, 2021
- Solution for irregular and digital-heavy lifestyle-induced skin problems
- Figure 20: Examples of eye care products with lifestyle-related skin problem benefit claim, China, 2021
- Refill jars make prestige skincare more environmentally friendly
- Figure 21: Examples of refill packs in prestige skincare lines, China, 2022
- ‘Sugar’ concept in both anti-glycation and ingredient continues to be the hot topic in prestige skincare
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Spending on Different Skincare Products
- Spending habits on prestige skincare remained stable in 2021
- Figure 22: Money spent on different facial skincare products, 2021 vs 2022
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- Figure 23: Average spending on different facial skincare products, 2020 VS 2021
- Spending habits on prestige skincare remained stable in 2021
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Starting Age of Using Prestige Brands
- Very early engagement of prestige brands
- Figure 24: The age of consumers started to use certain types of prestige skincare products, 2022
- Young consumers show very early engagement, and the trend is only getting earlier
- Figure 25: The age of consumers started to use certain types of selected prestige skincare products, by age, 2022
- Young consumers in lower cities show greater interest in prestige skincare products than urbanites in tier one cities
- Figure 26: The age of consumers started to use certain types of prestige skincare products, by city tier, 2022
- Very early engagement of prestige brands
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Reason for Starting to Use Prestige Brands
- Prestige brands are mainly adopted to prevent ageing skin in its early stages
- Figure 27: Reasons for starting using prestige skincare products, 2022
- Young consumers are enthusiastic about early age management
- Figure 28: Selected reasons for using prestige skincare products before the age of 30, by age, 2022
- Younger consumers feel the time to use prestige skincare has come earlier than their older counterparts
- Figure 29: Reasons for starting using prestige skincare products – At the age of use, by age, 2021 vs 2022
- Prestige brands are mainly adopted to prevent ageing skin in its early stages
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Information Source
- Comprehensive shopping websites and beauty counters provide the key touchpoint for information
- Figure 30: Information source used for learning about prestige skincare products, 2022
- Douyin and livestreaming platforms become information channels for one third of consumers
- Younger consumers in their 20s are more drawn to online KOL recommendations
- Figure 31: Selected information source used for learning about prestige skincare products, by age, 2022
- Consumers in their 30s/40s are relying more on comprehensive websites and counter services
- Figure 32: Selected information source used for learning about prestige skincare products, by age, 2022
- Comprehensive shopping websites and brand counters serve as the most important information source
- Figure 33: TURF analysis of information source of prestige skincare products, 2022
- Comprehensive shopping websites and beauty counters provide the key touchpoint for information
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Purchase Channel Overview
- Online channels remain dominant while offline destinations are also indispensable
- Figure 34: Purchase channel of prestige facial skincare products, 2022
- Younger consumers prefer trials in-store, while mature consumers are more confident in purchasing directly based on online information
- Figure 35: Purchase channel of prestige facial skincare products, by age, 2022
- Online channels remain dominant while offline destinations are also indispensable
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Desired Features for Purchasing Channels
- The offline channel should work on the synchronised offer with online platforms
- Figure 36: Desired feature for purchasing channels, 2022
- More real user reviews are the most desirable feature for online channel
- More affluent consumers desire more high-tech experience, spa services with simpler sales rules
- Figure 37: Desired feature for purchasing channels, by monthly personal income, 2022
- Consumers in tier one cities are more drawn to new product stimulation, and in lower-tier cities, logistic efficiency is the key
- Figure 38: Desired feature for purchasing channels, by city tier, 2022
- Young people are driven by refreshing store experiences and wanting hassle-free shopping experiences
- Figure 39: Desired feature for purchasing channels, by age, 2022
- High-tech tools and genuine user reviews are more attractive to mature consumers
- Highlighting new products also attracts a considerable amount of consumers
- Figure 40: TURF analysis of desired features for purchase channels, 2022
- The offline channel should work on the synchronised offer with online platforms
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Beauty Personas
- Who are they?
- Enthusiastic Experimenters are more likely to trial a product out of curiosity, while Holistic Wellbeing Followers find themselves approaching the age of use
- Figure 41: Reasons for starting using prestige skincare products, by beauty persona, 2022
- Aggressive Apprentices value KOL recommendations on Xiaohongshu, and Functionalists rely on proof from people around them
- Figure 42: Selected information source used for learning about prestige skincare products, by beauty persona, 2022
- Functionalists and Enthusiastic Experimenters pay more attention to high-tech tools in-store
- Figure 43: Desired feature for purchasing channels, by beauty persona, 2022
- Who are they?
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Appendix – Methodology and Abbreviations
- Methodology
- Abbreviations
- Methodology
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