jeudi 31 juillet 2014

Cosmetics Market in China

The cosmetics market in China has been delighting global giants in this sector. Indeed, the Chinese are richer in recent years. Their purchasing power today allows them to live in comfort and luxury. The arrival of fashion brands and foreign cosmetics in China immediately made its effects, as sales soared significantly. China now ranks second in the global cosmetics market. China will probably surpass the Japanese world leader by 2020 if economic growth in the country continues to stabilize and this was the case in the past 10 years.

Foreign cosmetic brands flooding the Chinese market

As soon as they have settled in China, foreign cosmetic brands have quickly conquered the Chinese consumers. Today, these account for 90% of the market share, leaving 10% to small Chinese brands who increasingly difficult to assert themselves. Indeed, the Chinese prefer to assert their success by adopting a lifestyle to Western. They even go further by paying a large sum of money in different beauty products that cost a China twice more expensive than elsewhere. If the price of different beauty products more expensive in China is that the Chinese authorities do not want to lose any crumb of this burgeoning market. Sometimes some products are taxed 50% and this is equally valid for products purchased outside China's borders for products already in the country.

Small local brands are emerging

Given the current circumstances where Western brands flooding the Chinese cosmetics market, some Chinese brands still come to assert itself, said Thomas. Indeed, the products that they offer on the market start their entry into range for a few years. To attract Chinese consumers, their main strengths lie in the exploitation of local natural resources developed by pharmaceutical companies. If China is known to the world through poor quality products, today this is no longer the case, via googleplus

Quality is increasingly present in various Chinese products on the market. If today, Chinese brands have 10% share of the cosmetics market, this trend can quickly switch a few years as in the textile industry where Chinese manufacturers today have a monopoly in the world.
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