In the mirror: Face of China's cosmetics market
By David Ho in Hong Kong | China Daily | Updated: 2018-06-18 07:28
Chinese women are splashing out more on beauty products, and at an earlier age than ever. As increasingly sophisticated consumers, they are pushing an already enormous global industry to new heights and reinforcing the rise of Asian-born companies in the sector.
According to a recent survey by OC&C Strategy Consultants, 88 percent of respondents increased their skincare spending in the last year. The study also found that 90 percent of respondents aged 18 to 24 started using skin-care products before the age of 20.
In China in 2016 retail sales of skin-care products were worth 169 billion yuan ($26.8 billion) and retail sales of makeup products were worth 28.3 billion yuan.
Photo