Financial advisors reported that potential best-seller cosmetic brands should have strong brand loyalty amongst non-discretionary products, which means that the consumers will keep spending even during the recession time.
What will be essential to be highlighted as the global cosmetic brands tapping into the Chinese consumers?
The hero products will be identifiable as genuine good products. For instance, the biotech and green ingredients inside the products are key to attracting young audiences as they trace the details beyond the surface level.
Brands that adapt inclusion, diversity, and localization concepts into their retailing and marketing strategies will build better connections with their audiences. For instance, the brand offering personalized services or customized products will meet the desire of the local audiences.
Regardless of the saturated cosmetic marketplace, China market will still be a ‘now or never’ opportunity for overseas beauty brands to break in. The key step for the newcomers is to identify the right brand positioning and figure out the resonances with their China consumers.
While the Chinese audience is used to the sophisticated digital life, the best approach for the brands to reach their potential buyers and audiences is through the omnichannel. Amid the changing customer behavior and market dynamics, brands will need to consolidate their values and work on their brand perception.
That is because customers nowadays would spend more time exploring the brands. The process of nurturing the audiences with the right product, localized product concept, and personalized brand experience have become an essential part to grow sustainably in China.
Source: https://www.voguebusiness.com/beauty/which-beauty-brands-will-investors-snap-up-next
