This aerial photo taken on Oct. 31, 2021 shows the National Exhibition and Convention Center in Shanghai, east China. (Photo by Jiang Zhongcheng/Xinhua)
BEIJING, Nov. 11 (Xinhua) -- As a big stage for the global debut of new products by international beauty giants, the China International Import Expo (CIIE) has, to some extent, shed light on the consumption trend of the international beauty industry.
Many beauty brands, such as Shiseido, Kosé and L'Oreal, have come to the fifth CIIE opening November 5 in east China's Shanghai to explore opportunities for future development.
The new products displayed at the event showed a clear trend of customization.
There is a growing trend among Chinese consumers, particularly among young people, to pursue personalized and customized products and services, noted Mike Hwang, president of Amorepacific China. According to him, Amorepacific, a world-renowned cosmetics group based in the Republic of Korea (ROK), will increase the development of such products and services.
International beauty giants are optimistic about the Chinese beauty market, and many of them believe that the spillover effect of the CIIE will stimulate the innovation of enterprises.
-- New products promote consumption upgrade
The high-tech new products, such as Shiseido's customized skin care products, have attracted a number of visitors at the fifth CIIE.
With the continuous innovation of beauty companies, the personalized beauty consumption experience has continued to upgrade, which further promotes consumption upgrade.
Judging from the new products launched at the CIIE, the new trend of global beauty consumption demonstrates the features of fine differentiation in categories, target population and ages, said Weng Yanling who is in charge of the beauty business of Unilever China, adding that skin care products are becoming more and more transparent in terms of ingredients and formulas, and the guarantee of product safety has become one of the main factors that consumers consider when purchasing.
It is not hard to find that beauty giants are gaining recognition from Chinese consumers through continuous product innovation.
With rapid innovation, the market environment in China is full of challenges which coexist with opportunities, and such environment breeds a broader beauty market, said Fabrice Megarbane, the chief executive officer of L'Oreal China and also the president of L'Oreal North Asia Zone.
From this perspective, competition boosts higher-quality product innovation which is good for consumers and the market, and China's beauty market still has great potential, Megarbane added.
According to Megarbane, with the continuous growth of the Chinese market, L'Oreal has grown into the largest cosmetics group in China, and China has also become the second largest market and core strategic market of L'Oreal worldwide. Meanwhile, L'Oreal continues to increase investment in China to meet the diversified pursuits of beauty by Chinese consumers with scientific and technological innovation, and promote consumption upgrade.
-- Beauty giants invest more in China
In addition to showcase black technologies and new products, beauty giants participating in the fifth CIIE expressed their optimism about the Chinese market.
As one of the first international beauty groups to come to the Chinese market, Shiseido has been actively involving in the development of the beauty industry in China. In this year's CIIE, the company set up an independent booth to showcase the latest achievements of its deep involvement in local innovation and investment.
By leveraging the CIIE platform, Shiseido can carry out in-depth exchanges with many international partners, and has become more and more confident in the Chinese beauty market, said Chen Zhiji, manager of corporate communication of Shiseido China, adding that in the next step, Shiseido will continue to reinforce its brand matrix to bring better products and services to Chinese consumers.
With the increasing spillover effect of the CIIE, beauty giants' expectations for the Chinese market are getting higher and higher.
"We have brought the latest technologies and concepts to the CIIE venue, so that Chinese consumers can learn more about the products, technologies and expectations for the future of Kosé. Kosé has always attached great importance to the Chinese cosmetics market, and for us, the Chinese market is the most important market and we are very optimistic about its future," said Yang Mingyan, an executive with Kosé Cosmetics Sales (China) Co., Ltd.
Chinese consumers have a strong demand for new makeup technologies and products, noted an executive with Allergan Aesthetics China, saying that Allergan Aesthetics values the demand of Chinese consumers very much, and it plans to introduce one or two innovative products at the forefront of the world every year to the Chinese market.
(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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