Covid has challenged the commercial strategies of exporting companies. In order to help them get back on track, Business France hosted a series of webinars during the e-cosmetic 360 trade show. Each session had for a theme a country with the presentation of its market and its specificities. China opened the ball.
According to Mélanie Gaudin, export manager at Business France, it is important for French companies to focus on China “because it is the second largest market in the world in terms of beauty, behind the United States and the largest in Asia, ahead of Japan. Analysts forecast 10 to 14% annual growth between now and 2024. There are 170,000 specialty stores and three million institutes across the country. It is estimated that the number of healthcare users will reach 400 million by 2020.”
Trends
Business has identified some rising trends that may represent opportunities for French companies.
Eco-responsibility
China, like many other countries, is swept by a wind of naturalness. Consumers are paying more and more attention to the formulation, the ingredients used, as well as to the ecological concept, sustainable development and reducing the impact of pollution. They are also interested in products that promote a healthy lifestyle.
Men’s skincare
“According to Euromonitor, the market for men’s cosmetics reached $2.09 billion, representing an annual growth of 8% in 2018. Chinese men of the younger generation are paying more and more attention to their physical appearance and are looking for premium products,” explains Mélanie Gaudin.
Children’s products
The baby/child care …
