South Korean beauty brands most popular
Chinese local brands are outperforming western brands, but Chinese women's appetite for South Korean beauty products continues, according to an industry report.
According to a report on Facial Skincare released by Mintel Group Ltd this month, domestic companies including Pehchaolin Daily Chemical Co Ltd and Shanghai Shangmei Cosmetics Ltd saw significant gains in market share. Intensive investment in mass marketing and distribution channels has helped both companies grow rapidly in the short term. Booming e-commerce has also helped both companies to acquire more users without opening physical stores during the last five years.
More importantly, consumers have realized local brands are better value for money than most of the international brands. Mintel has tracked the product usage in 2015 and 2016.
