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Domestic cosmetics flourish, aim for high-end market

(People's Daily Online)    13:26, June 21, 2019

(Photo/pixabay.com)

Domestic cosmetics are becoming more popular thanks to their improving quality. In 2019, domestic brands took a 56 percent share of the market, according to a report released by Tencent in May.

For three consecutive years, the online sales of traditional skincare brand Pechoin ranked first among cosmetics brands sold on Taobao on Double 11, China's biggest shopping festival.

The Tencent report indicated that 42 percent of consumers prefer domestic cosmetics brands to overseas brands, and 90 percent said they would continue to buy domestic cosmetics in the future.

Fei Qiwen, a marketing manager with Pechoin, attributed the increasing popularity of domestic products among consumers to the improved quality and the rich cultural background of the products.

However, despite the growing market and surging sales, domestic cosmetics are still less competitive than international brands in the high-end market, which includes names such as L'Oreal and Estée Lauder.

The number of high-end domestic brands is small, said Zhuang Mudi, an official in Shanghai who is familiar with industry and business administration.

However, some brands have already started to act. Shanghai Jahwa United Co Ltd, a Chinese consumer goods firm based in Shanghai, has engaged in building high-end brands such as Herborist, by investing more in research and development.

Cao Ping, chief of the R&D department of Shanghai Jahwa, pointed out that to compete with international brands, their products feature traditional herbal ingredients and adopt useful formulas derived from ancient medical books.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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