RMAA - Marketing & Advertising Agency’s Post

🌟 Lessons from Benefit's Journey in China 🇨🇳💄 I recently was quoted in BeautyMatter on why Benefit has pulled back in China – some key takeaways 💡 Adaptability Matters: The brand, while experiencing success with certain products on platforms like Tmall but it’s launches were out of step with the trends in the market. 🎨 Changing Faces of Beauty: Initially positioned as the epitome of "girly style" the brand failed to grow with its audience. As the fan base matured, desires shifted towards sophistication, and with the younger generation who did not appreciate the American retro style. 💲 Pricing Dilemma: While consumers in China are willing to pay a premium, clarity in targeting and value proposition is crucial. Benefit found itself in a precarious middle ground position, perceived by some as having a mass market feel at a premium price point. 🚀 Market Dynamics and Competition: There is fierce local competition in the color cosmetics from Chinese brands. Yet, success stories exist with brands like Charlotte Tilbury and Urban Decay, who navigated the landscape by carving out distinct niches. This is a call to action for beauty brands to adapt to China don’t expect China to adapt to you💄✨ #BeautyIndustry #ChinaMarketInsights #AdaptabilityInBusiness #BeautyBrandsInChina

🏮Understand the Chinese Guochao trend 🇨🇳 The cultural movement known as Guochao is reshaping consumer preferences and challenging the dominance of international brands in China. Our latest article delves into the significance of this phenomenon and its impact on businesses operating in the Chinese market. 👉 Read the full article here: 🔗 https://lnkd.in/dkpRESKP #Guochao #FashionTrend #ChinaBusiness #ConsumerBehavior

North Asian countries already comprise the world’s largest markets for beauty and personal care products. China, Korea and Japan together represent 35% of the global market, with above average growth. China skyrocketed to become the industry leader in this region, but has witnessed a troubling market hangover in the last 12 months. BDA's latest insights report highlights the trends in the beauty sector within Asia. The market is evolving and shifting fast. BDA is carefully monitoring these market dynamics, working on multiple transactions in the space. We’ve closed a number of exciting beauty transactions. We’re seeing strong dealflow. Let us know if we can help you. #theglobalinvestmentbankingadvisorforAsia #BDAPartners

China remains the largest worldwide market for beauty products, on par if not bigger than the US if you account for all the channels that serve Chinese consumers (local stores, cross-border both official and daigous, travel retail both local and international). However, since 2022, Chinese consumers are much more responsible in their spending and keep arbitrating between local, large international brands, and indie specialized brands. Growth has been sluggish and depending on deeper promotions. So, how can one succeed in such a market? The Business of Fashion has some interesting insights from local experts, including Gregoire Grandchamp Grampchamp from Next Beauty. My experience in China (with Feelunique's local JV) tells me that it is not a market for the faint-hearted. You need commitment, resilience, fast pivoting, and a good, reliable local partner if you are to succeed. What is your view on this market? #beautyinchina #chinesebeauty #successinchina #cbeauty #indiebeauty #beautydemand

China's top 10 new domestic brands were published, according to the Research Report on China's New Domestic Goods Consumption Behavior Monitoring and Development Trend from 2023 to 2024, released by iiMedia Research on Dec 4. New Chinese domestic goods are those with brand heritage and excellent product quality. They attract consumers by introducing new and creative products or finding fresh ways to interact with them to match the aesthetics of today's Chinese generation. Which brands have you experienced? Are they comparable to foreign brands? #brandawareness #brandexperience #qualitymatters #chinaeconomy #chinamarket #chineseeconomy #chinesemarket #chinatech

China's consumers are some of the most powerful in the world, and Jessie Xu, our lead China consumer discretionary analyst, recently shared her views with South China Morning Post SCMP on how their behaviours are changing. Jessie’s key takeaways include: ➡️Chinese consumers are less willing to pay high premiums for brand names as they are turning to value-for-money alternatives ➡️For products of the same quality, Chinese consumers will opt to pay a lower price ➡️For goods at the same price point, Chinese consumers will look for improvements and upgrades in technology or design This shift in mindset is reflected in the significant outperformance of white labelled products or unbranded apparel on budget shopping platforms like Douyin and Pinduoduo which have been seizing market share from apps targeting upscale customers. Subscribers to SCMP can read the full article here: http://deu.ba/60494hd0z #dbresearch

Key Figures from China's Beauty Landscape 👀 Annual Growth: RMB 1086.2 billion in Q1 of 2024, a growth of +4.12% year-on-year. 👀 Quarterly Analysis: Despite a seasonal dip in Q4 2023 (-8.62%), the market rebounded strongly in the first quarter of 2024. 👀 Segment Insight: Post-New Year's boost with January-February sales hitting RMB 677.8 billion, up +4.47% from the previous period. 🚀 China's beauty retail continues to show resilience and growth, bouncing back strongly after seasonal fluctuations. What strategies do you think are driving this sustained growth in China's beauty sector? #chinamarketing #wechat #tmall #douyin

It’s publication day! YASO is excited to announce the release of its inaugural trends report, “China Next: A Changing Beauty Landscape.” With an annual growth rate of around 5% and a market value of $67.18 billion in 2023, China’s beauty and skincare market offers almost unrivalled potential. Accelerated by increasing disposable incomes, an expanding middle class, a strong cultural emphasis on self-care, and the rise of highly creative domestic players, China’s personal care market is undoubtedly one of the most dynamic in the world. It is no exaggeration to define China as one of the cornerstones of growth and innovation across global beauty and skincare. Yet beyond this top-line growth, the Chinese consumer landscape continues to undergo significant transformation in the post-Covid world. A changing economic environment, shifting social norms and pressures, tightened regulation of the channel ecosystem, and increasing cultural confidence are all shaking up the ways in which Chinese shoppers discover and purchase beauty products. This report seeks to unpack some of these trends and changes, examining both the potential and the pitfalls of operating in the Chinese beauty space. Drawing on data and case studies from both Chinese and foreign brands, in this report we pick out some of the biggest shifts driving the sector forward, as well as the key product sub-categories to watch in 2024. To download your free copy click the link in the comments. #skincare #beauty #china #socialcommerce #chinamarket #trends #report

Unlocking 𝗖𝗵𝗶𝗻𝗮: A Fashion-Beauty Adventure 👠💄 Brand success in China isn't just about product exportation. It's about 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗯𝗿𝗮𝗻𝗱 𝘀𝘁𝗼𝗿𝘆 into the rich Chinese culture 🏮 and understanding their unique consumer behavior 🧠. Your 𝗯𝗿𝗮𝗻𝗱'𝘀 𝗻𝗮𝗿𝗿𝗮𝘁𝗶𝘃𝗲 is key in a tradition-rich country like China. Align your brand with their values and aspirations 🌟. Dominating China's unique digital marketplace 📲, with platforms like WeChat and Tmall, is a must. Live streaming 📡, 𝗞𝗢𝗟 𝗰𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝗼𝗻𝘀, and AR try-ons aren't trends but prerequisites. Lastly, navigate the regulatory runway ✈️. Understanding import regulations and customs duties is as vital as creating a couture line. So, are you ready to charm, engage, and expand in the world's top fashion and beauty market? 🌍 Comment your thoughts or DM me to unravel the Chinese fashion-beauty market. #fmb1 #ChinaFashion #ChinaBeauty #BrandStorytelling #ChineseConsumers #DigitalMarketplace #WeChat #TMall

It's publication day! YASO is excited to announce the release of its inaugural trends report, "China Next: A Changing Beauty Landscape."   With an annual growth rate of around 5% and a market value of $67.18 billion in 2023, China’s beauty and skincare market offers almost unrivalled potential. Accelerated by increasing disposable incomes, an expanding middle class, a strong cultural emphasis on self-care, and the rise of highly creative domestic players, China’s personal care market is undoubtably one of the most dynamic in the world. It is no exaggeration to define China as one of the cornerstones of growth and innovation across global beauty and skincare.   Yet beyond this top-line growth, the Chinese consumer landscape continues to undergo significant transformation in the post-Covid world. A changing economic environment, shifting social norms and pressures, tightened regulation of the channel ecosystem, and increasing cultural confidence are all shaking up the ways in which Chinese shoppers discover and purchase beauty products.   This report seeks to unpack some of these trends and changes, examining both the potential and the pitfalls of operating in the Chinese beauty space. Drawing on data and case studies from both Chinese and foreign brands, in this report we pick out some of the biggest shifts driving the sector forward, as well as the key product sub-categories to watch in 2024.   To download your free copy, click on the link below. https://lnkd.in/eac_qwBb #skincare #beauty #china #socialcommerce #chinamarket #trends #report