Skincare - China - September 2012
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Furthermore, increasing urbanisation also attracts a great migration of Chinese into the urban cities from rural areas for the better working opportunities offered in the urban cities with much higher pay, and with increasing wealth, consumers are looking to trade up and are starting to demand more from the products they are paying for.
Meanwhile, as more foreign investors set up business in China, they bring in new technology and foreign culture as well. The Chinese thus become exposed to all the latest trends, new technology and even new culture. In particular, the younger generation is willing to try to purchase new products and adapt to new things and experiences.
These factors position China as a very attractive market to manufacturers of personal care products, both local and international. Also, the expansion and the development of the retail infrastructure have helped a lot in spreading the skincare market much wider across China regions.
Chinese women nowadays are receiving higher education, getting equal employment opportunities, and are gaining increasing financial independence. They are now looking at beauty purchases as investments for their successful careers, especially those who work in the higher tier cities.
These women are placing a lot of emphasis on facial skincare and their expectations are getting higher and higher, whether they live in Shanghai, Beijing or less developed areas, which indicates not only that research and development in China has become crucial to brands in creating excellent skincare products, but also that it is critical that companies understand these most demanding consumers and that products meet their needs.
This skincare report covers the retail market for facial and body care products for women in the People’s Republic of China. Market value is based on sales to consumers through all retail channels including direct to consumer. It includes mass-market and prestige lines, but excludes the professional sector, including beauty salons.
The skincare market has two sub-sectors, which are defined below.
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