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Xinhua Silk Road
Economy

Booming beauty consumption boosts China's economic recovery

March 31, 2020


Abstract : With the orderly resumption of work and production, beauty consumption in China has ushered in a peak season, helping quicken the recovery of the country's economy amid the COVID-19 outbreak, reported Securities Daily on Monday.

BEIJING, March 31 (Xinhua) -- With the orderly resumption of work and production, beauty consumption in China has ushered in a peak season, helping quicken the recovery of the country's economy amid the COVID-19 outbreak, reported Securities Daily on Monday.

Chinese consumers have posted strong demands for oral and medical beauty products as well as beauty and hairdressing services after nearly two months work from home, said the report.

As of March 30, according to data from Koubei-Eleme, an Alipay digital life platform, the sales of oral and medical beauty products and services over the past ten days had increased by 30 times month on month.

Besides, the beauty economy in east China's Shanghai Municipality had outsold Nanjing, capital city of east China's Jiangsu Province and the China's capital city Beijing.

Data showed that hydrating, teeth cleaning and whitening, hair grafting, anti-wrinkle and skin firming, hyaluronic acid products are the top five most popular products among consumers. The month-on-month sales increase of hair grafting products even hit 1120 percent.

Changchun, capital city of northeast China's Jilin Province, Wuhan, capital city of central China's Hubei Province, and Nanjing are the fastest-growing cities for sales of hairdressing and beauty products, data from Koubei-Eleme showed.

To cater to this trend, a total of 800 oral and medical beauty institutions across China have participated in the "City Life Week" campaign initiated by Alipay to boost consumption, offering aggressive promotional discounts and rolling out pre-consumer vouchers of a 90-day period to attract consumers.

Many consumers bought the 90-day vouchers on Alipay, said Mr. Lin, a staff from Shanghai-headquartered oral medicine service provider MYOUR, adding that about 70 percent of the consumers are men and 70 percent of the consumers are young people aged 20-30.

"Young people love beauty, and the increase of the consumption in teeth cleansing and whitening also shows that everyone is looking forward to enjoying life after the epidemic, and we didn't expect that male consumers would take such a high proportion."

Beauty industry and medical beauty services related to the beauty economy would be one of the fastest-growing areas in the post-epidemic economic recovery, as well as a wind vane for the rising spending power and business confidence in China, according to industry insiders. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

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Keyword: consumption Chinese economy

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