According to a recent report by the Nihon Keizai Shimbun, with the rise of Chinese domestic beauty brands, Korean cosmetics, which have been maintaining growth momentum in the Chinese market, have ushered in drastic changes in the competitive environment.
Now, Chinese young people have a strong tendency to choose products based on the recommendations of popular beauty bloggers. Many domestic cosmetic brands are also constantly improving the quality of their products, stealing many consumers.
Nippon TV News previously reported that Chinese-made cosmetics are very popular among consumers.
A major weapon of these domestic brands is to communicate and interact with consumers online.
They publish a large number of promotional videos on the short video platform, and answer various questions and requests one by one in the comment area.
Based on meticulous customer service and quick grasp of market demand, some Chinese domestic cosmetic brands have been able to develop rapidly.
According to data from the National Bureau of Statistics of China, the total retail sales of cosmetics in China in 2021 will be 402.6 billion yuan, a cumulative increase of 14% year-on-year.
China's cosmetics market has huge potential, and some domestic cosmetics are more and more popular among Chinese consumers, gradually forming a certain competitive advantage.
On the whole, the popularity of "domestic products" in the cosmetics market is mainly based on the following favorable conditions:
First, use new media sales channels to expand new consumer groups.
In recent years, emerging sales models such as live streaming, content e-commerce, and social grouping have emerged.
These new media sales channels have good user stickiness, and sellers guide users to consume by sharing the actual use experience of cosmetics and mining the social attributes of related products.
With the help of this more down-to-earth and diversified sales model, domestic cosmetics continue to increase their market share.
Second, accelerate the integration of production, education and research in product research and development.
By strengthening cooperation with pharmaceutical R&D institutions, some domestic cosmetic manufacturers have gradually extended to the medical beauty and skin care products industry, paying more attention to the health experience of consumers; focusing on product optimization based on user characteristics, and constantly launching new products and new skin care concepts to meet consumer demand In terms of product technology, more and more attention is paid to exclusive raw materials and core formulas, and the technical advantages of domestic products are gradually established.
Third, promote flat management and flexibly respond to market changes.
At present, some domestic cosmetics companies have introduced horse racing mechanism, flexible KPI assessment, equity incentives, excess profit sharing and other means to optimize internal management, reduce internal levels, make the business model more flexible, and be able to respond faster and better to the ever-changing cosmetics market. User needs.
Fourth, the national tide has risen, and domestic cosmetics have become the light of new domestic products.
In recent years, China's domestic consumption trend has gradually moved closer to domestic products.
The increasingly strong sentiment of consumers for domestic products has become a booster for the sales of domestic cosmetics.
Domestic cosmetics are increasingly favored by consumers, which is a vivid epitome of the rise of "domestic products".
It should be noted that while facing development opportunities, domestic cosmetics also face many challenges.
First, sales are still unstable.
Judging from the domestic cosmetics sales list released by the e-commerce platform, the competition has become more intense in recent years, and the brands on the list are constantly changing.
Second, the head of the cosmetics market is clearly concentrated, and international brands still occupy a relatively high market share.
Third, offline brick-and-mortar stores are facing development difficulties.
After the outbreak of the new crown pneumonia epidemic, the sales performance of offline stores was affected to a certain extent; under the impact of the online sales model, it became more and more difficult to expand offline channel business.
Fourth, exports are still in their infancy.
Although the export volume of domestic cosmetics has made some progress, the overall level is not high.
China's cosmetics industry has a large import and export deficit, and the globalization and internationalization of domestic cosmetics has a long way to go.
Driven by the huge consumer demand in the Chinese market and the rising awareness of domestic products, domestic cosmetics not only focus on building internal strength, the industrial chain is gradually mature, and R&D management has made great progress, but also pay attention to borrowing external forces to seize the tide of digital economic development. Get on the e-commerce express train to drive sales growth, and the prospects are promising.
Looking forward to the future, domestic cosmetics should adhere to the road of innovation and development.
On the one hand, product quality is the key for domestic cosmetics to enter the world market.
We should face the challenges head on, insist on promoting development through innovation, invest more efforts and resources in research and development, and develop more effective new products in response to changing user needs.
On the other hand, domestic cosmetics need to pay more attention to brand building, and should actively learn from the global development ideas of some multinational brands to build their own brand reputation.
At the same time, it can learn from the successful sales experience in the domestic market, increase brand promotion through foreign social media, and further enhance the brand influence in the international market.
(Experts interviewed: Co-director and researcher Pan Helin of the Digital Economy and Financial Innovation Research Center of Zhejiang University International Business School, interviewed and sorted by reporter Li Jiabao)