Cosmetic exports soar as Chinese beauty soars in overseas markets

China's cosmetic exports in the first three quarters of 2020 amounted to 752,500 tons, up 3.5% year-on-year compared to 2019, and the export value reached $3.139 billion (about RMB 20.6 billion).

From November 1 to 3, more than 7 million overseas Chinese from more than 200 countries and regions around the world bought Chinese beauty products on e-commerce platforms, and some overseas consumers even looked for "Chinese agents" in order to buy their favorite products.

The "Miao Impression" series of makeup by Hua Xizi had a one-day turnover of over one million on November 1; overseas sales of Natural Tong have increased by 121% since May; the Perfect Diary animal eyeshadow palette sold nearly 10,000 pieces in one day; and the products of Royal Mudfang have been sold to 183 countries and regions worldwide ........

What are the reasons for the popularity of Chinese brands overseas?

One is the good quality and price. China has gradually got rid of the stereotype that products are "low-priced and cheap", and people around the world have started to trust Chinese quality products, and high cost performance is the reason why more and more overseas people choose Chinese beauty products.

The second is the booming development of cross-border e-commerce platform. E-commerce platforms, with their natural advantages in information display, information dissemination and information sharing, have provided new development opportunities for the cosmetics industry. In the future, domestic brands with deep insight into foreign consumers and rich experience in operating e-commerce channels will occupy a place in overseas markets.

According to authoritative data, the world beauty market is expected to reach $487.1 billion in 2021. How should domestic beauty brands eat this attractive cake?

First of all, domestic beauty can create a very special Chinese elements. Cosmetics consumption is very personalized, gender, age, income, consumption philosophy and other factors will lead to different consumer demand. Domestic beauty brands can create different personalized products according to different overseas consumer groups.

Secondly, marketing is important. Beauty brands can combine overseas social media platforms for media marketing, understand the specific needs of the target consumer market, explore the mode of operation on major foreign media such as Facebook , Whatsapp and localize cosmetics marketing to attract local consumers.

Finally, products and services. For any product, quality is the first priority. If the quality of the product is not up to par, even if it can deceive consumers for a while, it is impossible to deceive them for a lifetime. In addition, service is also a top priority, businesses can use online communities and other forms of strengthening the management and service of members, after all, good after-sales management and service, to enhance the customer's adhesion to the brand.

It is worth noting that as China joins RCEP, the world's largest free trade zone, with greater advantages in tariffs, there will be more and more national beauty brands coming out of the country and into the world to create the glory that belongs to China.