Fast-Changing Young Chinese Consumers Are Redefining the Beauty Industry

LONDON — China is a booming market for beauty, with consumers aged between 20 and 35 spending more than 518 billion renminbi, or $77 billion, on beauty products in 2018, according to Tmall, Alibaba’s business-to-consumer e-commerce platform. Reuter: Intelligence, the research and insights arm of Reuter Communications, a China-based luxury intelligence, digital, communications and marketing agency, will release a report on Wednesday called “The New Face of Beauty in China” that points to the rapidly changing consumer mind-set in one of the world’s biggest beauty markets. Chloé Reuter, founder and chief executive officer of Reuter Communications, said the report reveals that new e-commerce platforms; demand for hi-tech, holistic retail experiences, and the impact of Gen Z means that international beauty brands must understand the new tastes and expectations of China’s demanding consumers. “Creating this report gave us a fascinating insight into the real thoughts of the customers that are making the China beauty market one of the biggest in the world — and one that luxury brands can’t afford to miss out on. Years ago in China, we saw the same few beauty brands. Today, the market couldn’t be any more different. According to Tmall, over 3,000 global beauty brands are sold via m-commerce,

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