– S’Young International Hosts Exclusive Cosmetics Forum and Provides Insights on China’s Beauty Market in the Post-COVID-19 Era
SHANGHAI, March 24, 2023 /PRNewswire/ — S’Young International (“S’Young”, “the Company”), the initiator of the CP (China Partner) cooperation model, an open platform powered by digital for global beauty brands connect with the Chinese market, hosted an exclusive cosmetics forum at Palazzo Gnudi, Bologna, Italy on March 17, joining Tmall Global, China’s largest cross-border online marketplace and Pier Augé, an innovator of beauty products for sensitive skin, to analyze the reality of China’s beauty market in the post-pandemic era. At the event, Marshall Chen, CEO and Co-Founder of S’Young International, shared his thoughts on what NOT to do and what to do to help global beauty brands navigate the challenges and reap the benefits. benefits in the changing Chinese market.
As China has relaxed its Covid-19 prevention measures, the Chinese beauty market has shown further growth potential. The data indicated that per capita beauty consumption in China still has five times more room to increase. However, Marshall also cautioned that despite the many opportunities the burgeoning Chinese beauty market is also fraught with difficulties. Focusing on the challenges, Marshall provided three essential DO NOTs to help brands avoid potential pitfalls:
The current Chinese beauty space could be roughly divided into three categories: Chinese domestic brands, well-known international brands, and international niche brands. Competition between the first two categories is fierce, while niche brands often enter the market by targeting specific market segments to avoid intense competition. To break into these specific market segments, brands need to focus on building their brand image for a more targeted audience. China’s urban structure ranges from first-tier to eighth-tier cities, and is influenced by different channel environments and marketing conditions. To grow a brand efficiently, it is important to differentiate marketing strategies based on the city level. Compared with foreign markets, the Chinese beauty industry has a higher percentage of e-commerce channels and relies heavily on social media and short video marketing. It is also important to pay attention to the differences in beauty demands between Asian ethnicities, which requires a differentiation of foreign market strategies.
So, under the current circumstances of the Chinese beauty market, how can brands survive and achieve long-term success in such a complicated market with promising prospects and diverse challenges? Marshall responded to the question with three things that DOES need to be essential:
“Given the complexity of the beauty market in China, brands must not only identify customers’ explicit needs, but also their underlying desires to offer innovative products that meet their individual demands. For example, a traditional foundation or a product to Skin whitening products can only meet the basic needs of Chinese customers, while products such as a Spanish whitening cosmeceutical brand’s drinkable supplements and a long-lasting foundation with Milanese fashion DNA can provide additional benefits that meet their deepest demands,” Marshall said.
She also highlighted the importance of brand building in today’s scenario, emphasizing that beauty brands need to explore their brand strengths, historical roots and cultural identity. This is crucial to developing a distinctive and attractive brand image that strikes a chord with customers and sets them apart from rivals in China’s fiercely competitive and congested beauty industry. Furthermore, to build a successful brand holistically, it is also essential to integrate product development, marketing strategies, efficient operations, and logistics management for domestic and international sales, both online and offline.
At the event, Kristina Hui, UK & Nordic Beauty Director at Tmall Global, presented the rapid digital evolution of China’s retail landscape in recent years. She also noted that the changes brought about by the pandemic have led the platform to look for new solutions to connect and engage with customers.
Charles Dupont, CEO of Pier Augé, shared the importance of choosing the right Chinese partner who can help global brands achieve long-term sustainable growth. In 2022, Pier Augé and S’Young reached a strategic cooperation. Under CP’s collaboration model, leveraging S’Young’s experience in the Chinese market, sales of Pier Augé’s flagship product Douce Aura posted a whopping 259% year-on-year growth. As a result, Pier Augé’s popularity among Chinese customers skyrocketed and its sales figure quadrupled in 12 months.
“As the initiator of the CP collaboration model, S’Young has partnered with more than 30 international brands to provide them with market expertise and essential tools to overcome challenges and achieve sustainable growth in China. Our end-to-end solutions span brand positioning , unique communication strategies, marketing, retail and supply chain management, and we work together with our partners to clarify their main objectives and map out action plans for each phase of development, allowing them to create hero products and establish strong capabilities deep, partner cooperation with our partners to ensure the success of their brand in China, just like raising a child through close collaboration,” Marshall said.
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S’Young International, the initiator of CP’s collaboration model, is a digital-driven open platform that enables global beauty brands to access and connect with the Chinese market by providing a complete solution that addresses its multiple dimensions, omnichannel and complete. development life cycle. S’Young International has now cooperated with more than 30 beauty brands globally.
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