BUSINESS Spending Smart: China’s color cosmetics market sees booming growth

BUSINESS

Spending Smart: China’s color cosmetics market sees booming growth

CGTN

01:21, August 23, 2018

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A wide array of color cosmetics products on the dresser. (Photo: VCG )

Lipstick economy seems to bloom revival over the Chinese market, which is mainly driven by the young consumers.

“Lipstick is growing extremely popular in China right now. Actually, they are looking for self-identity through lipstick products. And they have the strong needs to express themselves socially, on the social platforms. And at the same time, I would say it serves as a weapon for the young females when they go to workplaces," said Laura Chu, account director of beauty sector in Kantar Worldpanel.

Consumers today are more sophisticated than ever in applying makeup - Crafting modern looks with multiple layers and shades, rather than a few simple accents. When it comes to the lipstick market, in particular, a whole kaleidoscope of colors is making an appearance on the mouths of China's women. 

Ms. Zhang, the beauty consultant for Yves Saint Laurent, said that the real boost has been in the sales volume of lipstick, along with the promotion of the products. And the young people are reckoned as the force with spending power in the lipstick market. 

“Nowadays young women and students are the main target audience for the lipstick market. When choosing color cosmetic products, the power of Key Opinion Leaders, like beauty bloggers and internet celebrities, can't be ignored. Also, pop-up stores are helping to offer those consumers a greater choice,” Zhang added.

Accelerated urbanization, improved living standards and the trend of posting photos on social media are just a few of the key factors driving the growth in the cosmetic products market. Lifestyle products represented by lipsticks which are affordable to individuals in every section of society are now becoming ubiquitous on the streets of China. 



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