25 April 2008
China Business Solutions Beautifies Cosmetics Export Service to the China Market.
What’s the new trend in China market for the younger generation?
The answer’s not Facebook, but makeover!
According to China Business Solutions’ recent research, sales in China’s cosmetics market are growing between 15% and 20% every year. International cosmetics products represent 70% of the turnover.
The research also quotes an international market study which says the cosmetics market in China reached a total value of RMB116.24bn (US$14.87bn) in 2007. The market is expected to continue to see strong growth over the next few years.
Working with China Business Solutions, several UK cosmetics companies have successfully entered the growing China cosmetics market in the past two years. China Business Solutions is now targeting further entries for western companies into this highly competitive but extremely lucrative market.
Ting Zhang, CEO of China Business Solutions says, “We have enhanced our resources to better help clients’ research and marketing strategies. We also offer partnership management and consulting services.”
“One revelation of our research is that Chinese men born in the 70s and 80s are as interested in using cosmetics as women are. This may surprise many in the West; nonetheless, sales of male cosmetics products of all kinds are increasing.”
Ting Zhang notes: “We can see that the Chinese new generation embraces new consumer ideas and products. Our research focuses closely on client marketing requirements.”
“China’s new generation believes personal image is an important factor in business success. At the same time, income growth allows Chinese consumers to enjoy fashionable products. China’s cosmetics market has continuing growth potential.”
However, the entry barrier of the cosmetics market is very high. Apart from the need for a sanitary license from MoH (Ministry of Health of China) and other official authorisations for each formula, cosmetics companies have to deal with lengthy customs clearances.
“In this situation, an experienced and reliable Chinese agent is critical for western cosmetics companies to meet China?s strict regulation standards and to handle detailed Ministry and customs communications successfully.”
Ting Zhang stresses, “Generally, detailing your products’ formula and ingredients correctly are key factors in getting Government approval. But this is not the end of the story. Finding trustworthy local partners is a crucial task in establishing good sales in this market.”
“China’s cosmetics market is growing exponentially. China Business Solutions continues to help beautify clients’ sales in China.”