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2021 China Beauty Cosmetics Collection Store Industry Report Original iResearch

Research report on beauty cosmetics collection shop

Core summary:

Concept definition: Beauty Collection Store is an offline retail format that integrates multi-category and multi-brand cosmetic products in one store. It provides end consumers with product display, experience and sales services including cosmetics, skin care products, personal care, perfume, sunscreen products, cosmetic instruments and tools.

Business model: The structural changes of domestic beauty consumers have spawned new demands for beauty collection stores. Compared with traditional beauty collection stores, the business model of new beauty collection stores has achieved innovative changes in people, goods and fields.

Driving factors: traditional beauty collection stores have been deeply involved in the domestic market for many years, and their large-scale store expansion has promoted market growth. The new beauty collection store has achieved rapid development in recent years under the joint drive of client, brand and capital.

Market size: In 2020, the market size of China beauty collection stores will be 41.9 billion yuan, of which the proportion of new beauty collection stores will reach 7.6%. With the transition from the embryonic stage to the stable development stage of the new beauty collection store industry, its market share is expected to increase to 15.8% in 2023, and the market scale is expected to reach 13 billion yuan.

Trend insight: the just-needed attributes of the offline beauty channels and the integration opportunities of the domestic beauty collection store industry have long-term favorable investment prospects. Optimizing the product pallet structure and choosing a healthier operation mode will become an important development direction of the beauty collection store industry in the future.

Analysis of Business Model of Beauty Collection Store

Market development background of beauty cosmetics collection store

Under the background of Yan value economy, the market scale of cosmetics industry has grown steadily.

The "14th Five-Year Plan" defined the brand creation action of China, and proposed to protect and develop Chinese time-honored brands, enhance the influence and competitiveness of independent brands, and take the lead in cultivating high-end brands belonging to China in the consumer fields such as cosmetics, clothing, home textiles and electronic products. The future development prospects of the cosmetics industry can be expected. In 2020, China’s cosmetics market will reach 430.3 billion yuan. In the next three years, the overall market size is expected to maintain a stable and sustained growth of about 10% after the epidemic is repaired, and it will reach 600 billion yuan in 2023. As the largest category in the cosmetics industry, skin care products will account for about 55% of the market in 2020, and the growth rate will tend to be stable; In contrast, cosmetics, perfumes, men’s cosmetics and other sub-categories have greater growth potential.

The domestic cosmetics supply chain has gradually matured.

The upstream of the cosmetics industry chain mainly includes raw material suppliers and cosmetics manufacturers who produce cosmetics raw materials and packaging materials. Cosmetic manufacturers mainly adopt two modes: independent production and OEM production. Most cosmetics companies don’t have independent production lines, and usually entrust foundries to produce finished cosmetics. Among them, new domestic brands adopt OEM mode for the sake of cost and new product listing efficiency. The rapid expansion of the cosmetics market and the rise of local brands have promoted the development of the domestic cosmetics OEM market. In recent years, with the gradual maturity of China’s cosmetics supply chain, head cosmetics foundries such as Northbell, Cosmeishi China and Shanghai Zhenchen have cooperated closely with many brands at home and abroad, and the market entry threshold of cutting-edge cosmetics brands has continued to decline.

Domestic cosmetics retail online and offline show a trend of integration, promoting the development of beauty collection stores.

In 1990s, international high-end cosmetics brands represented by L ‘Oré al and Lancome entered the China market, taking department store counters as the main channel, which gradually cultivated domestic residents’ awareness of cosmetics consumption and promoted the establishment of marketing awareness of domestic cosmetics industry. Around 2000, a group of regional distributors of foreign brands familiar with cosmetics operation skills began to establish their own domestic brands, and the embryonic forms of classic domestic products such as Marubi, Zirantang and Polaiya were born, which led to the development of traditional beauty collection stores with lower threshold and wider distribution. Around 2012, the growth rate of cosmetics industry was dragged down by weak macro demand, and the competition in offline channels intensified. Domestic and international brands touched the net one after another, and they developed with the help of two waves of dividends from traditional e-commerce and new media e-commerce. However, in recent years, with the high operating cost of e-commerce, the online traffic dividend has declined, high-end products have driven the counter-cyclical growth of the cosmetics industry, and the value of offline channels in terms of user experience and brand building has once again been valued. The channels have shown a trend of online and offline integration, and new beauty collection stores have emerged, driving the beauty collection store channel generate to show new growth vitality.

Traditional VS new business model of beauty cosmetics collection shop

The new beauty collection shop is more suitable for the needs and preferences of contemporary young consumers.

The target customers of the new beauty collection store are directed at young people, so the selection of products and the layout of scenes are all around young consumers who pay attention to experience and cost performance. On the one hand, the new beauty collection store is more tolerant of cutting-edge brands, and cooperates with many online celebrity beauty brands full of design and personality; On the other hand, the new beauty collection store provides consumers with high-value scenes that are convenient for social punching through very stylish store decoration, and at the same time adopts light BA mode to create free shopping space.

Industry insight of beauty collection store

The Driving Force for the Development of New Beauty Collection Store: Client

Consumer demand of new generation beauty users: pursuing scene experience

The business areas of offline channels such as beauty collection stores are mainly large business districts, which provide consumers with comprehensive and diverse cosmetic products through rich brand structure and product levels while satisfying convenience. On-site trial can help consumers fully feel the products in a one-stop shopping scene, and make purchase decisions that best meet their personal needs, and its strong experience attributes far exceed online channels. According to the survey data, nearly 70% of consumers choose to buy cosmetic products offline because they want to try them on the spot. Specifically, in terms of product categories, cosmetic tools, cosmetics and skin care products have the highest willingness to buy offline, and more than 90% of consumers have tried and bought these products offline. In addition, the offline purchase intention of perfume fragrance and sunscreen products has reached more than 80%.

Consumer demand of new generation beauty users: high acceptance of domestic products

Multiple factors, such as consumption upgrading and the rise of national tide, have jointly promoted the rise of local beauty brands. Many new brands have opened the market with product innovation and diversified marketing models, and achieved breakthroughs under the long-term strong brand effect of international brands. The new generation of beauty consumers, mainly young people, have a higher acceptance of new things, have a more personalized evaluation system in the choice of beauty consumption, are not obsessed with big names, and pay more attention to face value, efficacy, reputation and cost performance. According to the survey data, consumers have a high acceptance of domestic brands, and the proportion of consumers who tend to buy domestic traditional brands and emerging brands is over 40%. Another 34.3% of consumers have no obvious preference for domestic and foreign brands, and pay more attention to whether the products themselves are suitable for them.

Consumer demand of new generation beauty users: market gap of "sample economy"

Beauty product samples can make consumers invest lower trial and error costs when fully trying new brands or new products, and it is easier to make purchase decisions, so they can play a greater role in attracting new users and promoting formal dress purchase, and become an important marketing contact for brands. Samples usually reach consumers in the form of brand gifts and holiday suits, and there are few formal channels to sell samples separately in the market. The new beauty collection store captures the demand of the new generation of beauty users for sample products, and sells them as independent products in the store, which can not only attract passengers, but also generate revenue. According to the survey data, users who spend 300-500 yuan per month on cosmetics are most likely to be attracted by the samples, and then go to the new beauty collection store for consumption.

The driving factor of the development of new beauty collection store: brand end

Demand for offline channel expansion of emerging beauty brands: high operating cost of online traffic

The domestic e-commerce industry has entered a stage of rapid growth since 2010. With the mature development of e-commerce, more and more businesses are pouring into the online market, traffic competition is becoming increasingly fierce, e-commerce dividends are gradually declining, and market growth is slowing down. At present, the online platform channels are diversified, and the distribution of consumers is decentralized and the e-commerce traffic is fragmented, which makes it more difficult to obtain customers. Beauty brands, especially domestic emerging beauty brands, have been able to rise rapidly through online channels in recent years, but at the same time, they are faced with the problems of high online traffic cost and continuous increase in marketing and promotion expenses. Expanding offline sales channels and reaching consumers in multiple dimensions will become a breakthrough for beauty brands to achieve long-term development. The new beauty collection store provides a tonal matching channel for emerging beauty brands, which increases brand exposure. At the same time, on the basis of sales, it empowers the brand operation value of the channel. For example, H.E.A.T likes to provide data feedback for the brand, helping the brand to intuitively understand the consumer’s preferences and needs.

Demand for offline channel expansion of emerging beauty brands: the cost of opening independent stores offline is high.

With the rising real estate prices and labor costs in recent years, the cost of facade rent and employee expenses of single-brand beauty stores has increased, and domestic emerging beauty brands have taken on higher operational risks, especially in the initial stage of development and market grabbing. The channel model of beauty collection stores is conducive to reducing the pressure on funds, inventory and operation of emerging beauty brands. For overseas brands, the sales of brands in China are mainly based on the distribution agent model, and department stores or independent stores are mostly located in first-and second-tier cities. The distribution of offline channels in low-tier cities requires fixed costs and labor costs borne by dealers. The model of brand counters or independent stores is risky in the sinking market, and it is relatively difficult to reach. The model of beauty collection stores can alleviate the account period and inventory pressure of dealers to a certain extent, and at the same time meet the demand of consumers for overseas brands in the sinking market.

Demand for offline channel expansion of emerging beauty brands: traditional beauty collection stores have high entry barriers.

The purchasing mode of traditional beauty collection stores in China mainly includes consignment and distribution: under the consignment mode, the beauty collection stores adopt actual sales and settlement, and the goods are delivered directly by the brand; Under the distribution mode, the beauty collection store signed a batch sales order with the brand, and the ownership of the goods actually transferred. The traditional beauty collection store has obvious advantages in supply chain, stable channel sales, strong voice, high proportion of consignment mode, sales risk borne by the brand, and relatively long account period. At the same time, the traditional beauty collection store has a certain threshold for the purchase choice of emerging beauty brands because of the consideration of marketing. The purchase mode of new beauty collection stores is mainly one-time buyout, and the account period and supply discount are more friendly to the new brands of the country. On the other hand, the entry of new explosive products attracts consumers to the store, and also brings passenger flow to the new beauty collection store, realizing two-way empowerment.

The Driving Force for the Development of New Beauty Collection Store: Capital End

Players in the new beauty collection store have been favored by capital many times.

The format of the new beauty collection store keeps up with the changes in the new offline retail scene, and has become a "flow harvester" in major business districts with its strong appeal to young consumers. Therefore, it has received great attention from capital and has been frequently financed in recent years. Among them, Colorist, Plum Blossom and WOWCOLOUR have received several rounds of financing, and the financing scale has reached several hundred million yuan; In addition, rising stars such as NoisyBeauty, Hi Burning and Black Hole have also won the favor of well-known investment institutions such as Gaochun Venture Capital and Zhenge Fund. With the help of capital, the new beauty collection store industry has entered the stage of staking.

Market scale of beauty cosmetics collection store

The overall scale of the industry has grown steadily, and the proportion of new beauty collection stores has increased.

With the advantages of multi-brand operation and location close to consumers, the beauty collection store channel can help cooperative brands to effectively explore the market. Watsons, which is positioned in the mass market, and Sephora, which is positioned in the middle and high-end market, have gradually become the mainstream of domestic traditional beauty collection stores after years of deep cultivation, and their chain stores in China have driven the growth of the market scale of traditional beauty collection stores. Since 2019, domestic new beauty collection stores have started to develop, and innovative brands represented by colorists and plum blossoms have emerged one after another, which has had a certain impact on traditional beauty collection stores. At present, the new beauty collection store industry is in transition from the embryonic stage to the stable development stage. In 2020, the domestic new beauty collection store will account for 7.6% of the total beauty collection store market, and its market share is expected to increase to 15.8% in 2023, and the market size is expected to reach 13 billion yuan.

Industry atlas of beauty cosmetics collection shop

The beauty collection store industry is scattered and there are many players.

The head players of traditional beauty collection stores mainly include Watsons, a chain brand of beauty cosmetics and daily chemicals, and Sephora, which focuses on high-end selected brands in Europe and America and its own brands. The new beauty collection store is represented by the colorist under KK Group, WOWCOLOUR under the famous products and the plum originated from online. Colorists and WOWCOLOUR focus on cost-effective domestic and foreign beauty brands, opening hundreds of stores all over the country; Huamei and Heikong mainly sell overseas big-name and niche brands, positioning high-end, and mainly opening street stores in first-tier and new first-tier cities. Other players’ stores are more regional and smaller in scale, and their brand positioning is different. NOISYBeauty, Dongdian West Point and other players cut into the track from the sinking market.

Beauty cosmetics jihe branch industry concentration degree

Many players in beauty collection stores adopt differentiated strategies to cut into the market, and the industry tends to be integrated.

Players in the beauty collection store industry can be divided according to players’ background, brand positioning and store area. In the background of players, it can be divided into independent new brands, retail brand incubation and department store incubation, and the beauty collection stores incubated by the group may be supported in terms of capital and supply chain; In terms of brand positioning and store area, the brand stores located in the high-end niche are mainly large stores, while the players located in the cost-effective and sinking market mainly operate medium-sized stores. In terms of industry structure, the traditional beauty collection store industry developed earlier and the market concentration was higher, while the new beauty collection store is still in a period of rapid development. In the future, head players are expected to gradually increase their market share through industry integration.

Core competitive elements of new beauty cosmetics collection store

The core competitive advantages of the new beauty collection store are embodied in three aspects: people, goods and market

In order to maintain benign operation and enhance differentiated advantages, the new beauty collection store needs to optimize the service quality and professionalism of the store BA in terms of "people", and requires the management team to be forward-looking in important decisions such as selecting products and opening stores. In terms of "goods", the new beauty collection store needs to match the consumer’s demand preferences to the greatest extent in brand selection, and enhance the interaction with consumers through diversified marketing activities; Improve the supply chain capacity and quality, ensure the regularity of goods, improve the turnover efficiency and control the inventory water level. In terms of "field", new beauty collection stores are usually located in popular areas with dense traffic in key cities, while paying attention to convenient transportation and location in business districts, such as subway floors, escalators or the most conspicuous places near entrances and exits; The decoration style in the store has a strong sense of design, and at the same time, the long-term appeal to consumers is enhanced through regular adjustment of decoration and shelves.

Prospect of the future trend of beauty cosmetics collection store

Long-term challenge of new beauty cosmetics collection store

The long-term profit model needs to be verified: low customer unit price and low efficiency.

At the same time of large-scale expansion, the long-term profitability of the new beauty collection store still needs to be verified by the market, and its uncertainty is reflected in many aspects: in terms of passenger flow scale, the new beauty collection store attracts the first batch of young consumers in the city to punch in with its design-conscious store decoration and novel scene experience, but after the novelty gradually ebbs, it still needs stores to give full play to their advantages in product selection to maintain the sustainability of passenger flow; In terms of pallet structure, stores may optimize the store model by increasing the proportion of high-margin products such as cosmetics, niche brands and exclusive agency brands, but it is still uncertain whether the low-margin products and the passenger flow attracted by samples can be converted into the purchasing power of high-margin products; In terms of expenses, the location of new beauty collection stores is usually located at no cost to attract passengers and make positioning. The high rental cost for this purpose is also one of the main reasons for the low efficiency and difficulty in making profits.

Price advantage impact of other channels such as online and duty-free shops.

According to the survey data, 42.2% of the consumers who choose to shop in the new beauty collection store said that one of the main reasons is that the product prices of the new beauty collection store are cheaper than those of department stores and online official stores. Compared with the official channels where there are few discounts except shopping festivals and live broadcast rooms, the price of the new beauty collection store does have certain advantages intuitively. However, the rise of the domestic duty-free market has a certain impact on the price advantage of new beauty collection stores, even without considering the activities such as sample giving and point redemption through official channels. Take HARMAY as an example. The retail price of 30ml Hailan Mystery Essence Cream is 1292 yuan, which is 15% off the official price, while Sanya International Duty Free City is priced at only 1180 yuan. Due to the great difference in pricing between international brands at home and abroad, the pricing of Taobao Haitao purchasing stores is mostly around 800 yuan. In contrast, the price advantage of the new beauty collection store is not obvious, and it is difficult to attract price-sensitive consumers for a long time.

The opaque supply of goods and the stricter regulatory environment will make the continuous supply of products face uncertainty.

At present, the supply channels of new beauty collection stores in China mainly include: 1) purchasing in large quantities through department store counters, usually obtaining some price discounts and tying a large number of samples; 2) through the purchase of dealers or agents, merchants specializing in wholesale samples have also been formed in the process of industry development; 3) Secondary sales of large hotels, mainly care and fragrance products; 4) A small number of beauty collection stores are authorized by brands to directly purchase products, which are mainly authorized by small and medium-sized overseas brands and domestic brands, and most products are not directly authorized by brands. In addition, some new beauty collection stores take sample products as an important drainage method, which has the problem of opaque supply. With the introduction of relevant national regulatory policies and the requirements of retail platform specifications, beauty collection stores with samples as their selling points may adjust their procurement channels, and there is some uncertainty in the continuous supply of products.

Future trends of new beauty cosmetics collection stores

The operation mechanism of the big store model is healthier

At present, the operation types of new beauty collection stores in China mainly include small stores and big stores. Small-store model is conducive to expanding the market in the early stage, but the speed of opening stores is too fast, and there is a mismatch between the customer quality of some stores and the positioning of new beauty collection stores, especially in the case of limited brand building and supply chain management capabilities, consumers are not sticky enough, which affects the sales and profitability of stores and leads to the closure of stores. Comparatively speaking, the location of large stores with an area of 500 square meters or even more than 1,000 square meters is usually the landmark core business district of the city. The business district has its own high passenger flow, rich SKUs in stores, better shopping scene design experience, better floor efficiency performance of stores, and it is not easy to close stores. The "one city, one store" big store model will become an important development direction of the new beauty collection store industry in the future.

Category and brand structure tend to be diversified, and the pallet structure is optimized.

The early product layout of domestic new beauty collection stores mainly focused on make-up, which attracted consumers to enter the store to try on makeup and achieved the purpose of drainage. However, cosmetic products generally have a long use cycle and low consumption frequency, which affects product repurchase. According to the survey data, only 15.8% of users said that they bought makeup most frequently in different categories of cosmetics, while the proportion of users who chose to buy skin care products most frequently was as high as 60.1%. As a fast-growing category, the domestic demand of perfume is gradually increasing, which makes the selection strategy of new beauty collection stores inclined. The new beauty collection store will gradually adjust the category structure and increase the proportion of skin care products and perfume products. In terms of brand types, the new beauty collection store has relatively strong bargaining power and higher gross profit for domestic cutting-edge brands and overseas niche brands, and will become the future development direction of the new beauty collection store.

Original title: China Beauty Collection Store Industry Report in 2021

Affected by the latest tone of the Politburo meeting, real estate stocks are boiling collectively.

After the market opened on July 25th, the real estate development sector continued to strengthen, with Rong Sheng Development, Jinke and Zhongnan Construction increasing daily, while Dima, Huayuan Real Estate, Tianfang Development, gemdale, Binjiang Group, Caixin Development, Xincheng Holding, Poly Development, Huafa and SIC were among the top gainers, while only one of the sector’s constituent stocks declined slightly.

In terms of Hong Kong stock real estate, Longhu Group increased by as much as 21.92%, Country Garden Service increased by 21.32%, Hejing Taifu Group increased by 17.58%, New Town Development increased by 16.54%, Longguang Group increased by 15.94%, Country Garden increased by 15.87%, New Town Yue Service increased by 14.65%, Zhongjun Group Holdings increased by 14.10% and Agile Group increased by 13.88.

The real estate-related industrial chain has also been boosted, with stocks such as Goodwife, Piano, Zhibang Home and Wrigley Home in the home sector trading daily; The building materials sector also showed positive performance, with Zhengyuan shares and Bunny trading daily, and Oriental Yuhong approaching the daily limit.

Such rare fervor of real estate stocks stems from the latest tone of the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting on real estate.

On July 24th, the Politburo meeting pointed out that it is necessary to effectively prevent and resolve risks in key areas, adapt to the new situation in which the supply and demand relationship in China’s real estate market has undergone major changes, adjust and optimize real estate policies in a timely manner, and make good use of the policy toolbox because of the city’s policy, so as to better meet the rigid and improved housing needs of residents and promote the stable and healthy development of the real estate market. It is necessary to increase the construction and supply of affordable housing, actively promote the transformation of urban villages and the construction of "flat and emergency dual-use" public infrastructure, and revitalize all kinds of idle real estate.

Compared with previous Politburo meetings, this meeting has adjusted the latest situation judgment of the real estate market: the relationship between supply and demand in the real estate market in China has undergone major changes, and it is first proposed to adjust and optimize the real estate policy in a timely manner, and change "supporting" the newly changed demand into "better meeting".

The major change in the industry situation means that the property market has stepped into a flat or even depressed situation from the high state in the past few years. According to the data of Ping An Securities, the property market transaction has been weakening since the second quarter. In June, the sales of commercial housing fell by 18.2% in a single month. In the medium and long term, with the slowdown of urbanization rate, the per capita living area of cities and towns has been greatly improved, and the potential demand is also under pressure.

Ping An Securities said that the domestic real estate market has once again entered a new stage after experiencing "demand exceeds supply" to "structural demand exceeds supply". The meeting pointed out that the real estate policy should be adjusted and optimized in a timely manner, and the demand-side policy optimization such as restricting loans and purchases in short-term key cities is worth looking forward to because the city makes good use of the policy toolbox to better meet the rigid and improved housing needs of residents.

Huatai Securities also said that the "new" real estate situation is aimed at the "old" situation that the market demand exceeds supply for a long time in the past, which led to the continuous rise of house prices, so it is necessary to "live and not speculate". At present, the real estate market has returned to decline after a short period of repair. In the first half of 2023, the sales area and sales amount of commercial housing were -2.8% and +3.7% respectively, and house prices rose first and then fell. In June, the prices of new and second-hand houses in 70 cities were -0.1% and -0.4% respectively.

"It is precious and timely to readjust the real estate industry at the current time." Huatai Securities said that in the past 22 years, a total of 835 relaxation policies have been introduced in various places. Since the first quarter of 2023, the pace of relevant policies has obviously slowed down. After the meeting of the Political Bureau, the policies of key cities are expected to be gradually optimized, such as the relaxation of policies such as restricting purchases, loans and sales, and recognizing housing and loans in core cities.

Yan Yuejin, research director of Yiju Research Institute, believes that the surge in real estate stocks on the 25th fully demonstrates the market’s absorption of the spirit of the Politburo meeting, and also reflects the positive adjustment expected by the market. Some enterprises with debt problems or operating pressures also showed relatively high stock performance, indicating that the impact of the Politburo meeting was comprehensive and universal, and the expectation of continued loose policies in the real estate sector was significantly enhanced, and macroeconomic and real estate expectations continued to improve in the second half of the year.

It is worth noting that the Politburo meeting also mentioned the transformation of villages in cities, which is considered to be an "important part" of the new real estate model.

The industry believes that the transformation of villages in cities is an inevitable choice to repair domestic demand and consumption potential, which will help to build a new model of renting before buying, gradually let new citizens upgrade their housing consumption, and create conditions for the sustainable development of the commercial housing market. The policy not only drives some construction opportunities, but also gives birth to a large number of business opportunities for operational services, which is beneficial to enterprises with comprehensive asset operation capabilities.

Huatai Securities said that it is necessary to pay attention to the detailed rules of each city in the future. Local state-owned assets with resource advantages will give priority to this policy, and they are optimistic about cities with abundant supply flexibility and high-quality housing enterprises with sufficient value and replenishment ability in mainstream cities.

Editor-in-Chief: Qin Hong

Text Editor: Yang Rong

Author: CBN

Source of the title map: upper view of the title map

Photo editor: Yong Kai

　　CCTV News:In 1990s, American football star O·J· Simpson’s "suspected wife murder case" caused a sensation, which was also called "trial of the century". Although Simpson was acquitted in that year, in 2008, the famous American black sports star was jailed for "kidnapping and armed robbery". On the 1st, after serving nine years in prison, seventy years of age Simpson was released on parole.

　　The Nevada Bureau of Corrections and Rehabilitation confirmed that Simpson left Lovelock prison in northern Nevada at 0: 08 am local time on the 1st after signing the release papers.

　　Although the American media generally predicted that Simpson would be released on parole at the beginning of this month, the Nevada Bureau of Corrections and Rehabilitation released Simpson in the early hours of Sunday, which was somewhat unexpected. This also enabled Simpson to avoid the media when he was released from prison. After he got out of prison, he was picked up by an unidentified friend.

　　Former football star Simpson was jailed for robbery.

　　In 2007, Simpson and others clashed with two sports souvenir sellers in a hotel in Las Vegas, Nevada, trying to snatch thousands of dollars worth of souvenirs with guns — — Simpson claimed that the photos, badges and football souvenirs were his own belongings. After the incident, Simpson was arrested by the police and charged with 12 counts including kidnapping and armed robbery.

　　In 2008, the court sentenced Simpson to 33 years in prison, but he could be released on parole after nine years.

　　In July this year, four members of the Nevada Parole Adjudication Board voted unanimously that Simpson was "unlikely to commit another crime" and agreed to grant him parole.

　　"Trial of the Century" — — Simpson’s "Suspected Wife Killing Case"

　　Simpson was once a star of the National Football League. In June 1994, Simpson’s white ex-wife and boyfriend were found dead in their residence in Los Angeles, and all the evidence showed that Simpson was the biggest suspect — — The case was a sensation, but after a tortuous trial, Simpson was acquitted by a jury in October 1995. This case, known as the "trial of the century", has caused public controversy about the fairness of the American judicial system, highlighting the differences of opinion among different ethnic groups in American society.

The contest between domestic brands and international brands has always been a hot topic in the beauty industry.

In the past double 11, domestic brands finally won a staged victory: Polaiya won the first place in the beauty industry of Tmall and Tik Tok, and the first place in the beauty industry of JD.COM, which is the first time that domestic brands have topped the beauty list of Tmall double 11 since 2018. Earlier in October, Polaiya released the third quarter financial report, and the company’s revenue in the first three quarters reached 5.249 billion yuan, ranking first among cosmetics listed companies in China. From these perspectives, the industry pays attention to and studies Polaiya not only to find an answer for its success, but also to find the direction of the evolution of domestic beauty products.

At the same time, international brands are still aggressive. L ‘Oré al China’s double 11 Battle Report shows that it is the beauty group with the largest number of short-listed brands in the TOP list of Tmall, Tik Tok and JD.COM, and maintains a leading position in high-end beauty, high-end dermatological skin care, make-up, hair care and so on. During the 6th China International Import Expo(CIIE), many beauty giants announced the launch of new products and new skin care technologies, showing their attention to the China market.

As important industry weathervanes, double 11 Dapromotion and China International Import Expo(CIIE) represent the "offensive and defensive" strategy and evolution direction of beauty enterprises. It is difficult for us to draw any conclusions from the short-term ranking changes and new trends in enterprises, and we need to lengthen the cycle to look at it, but perhaps we can find the frontier trends of the beauty industry and the development opportunities of domestic beauty.

On the ups and downs of domestic beauty cosmetics from double 11

The performance of domestic brands is not a new topic in double 11 this year. Taking stock of previous double 11, there are many domestic brands in the beauty industry, but compared with international brands, the ranking of domestic brands is unstable, and there are many "one-round tourists". Taking the Tmall platform as an example, the domestic beauty products shortlisted in the TOP10 list have experienced the iteration of Amoy brand, local big brands and a new generation of domestic brands. Taking 2020 as the boundary, the domestic brands in the head have been greatly replaced, and only Winona has been shortlisted in the TOP10, ranking steadily and rising; Polaiya has made great efforts since last year and has become one of the representatives of new domestic products.

This year, the beauty category was affected by multiple factors, and there were not many surprises in the overall transaction performance. The domestic beauty products rose obviously and became one of the highlights. Among them, Tmall’s head beauty brand pattern has undergone a major renovation. SK-II and Shiseido fell out of the TOP10 due to the Japanese nuclear pollution incident, and Polaiya pushed a number of foreign brands to the top. From the perspective of brand types, comprehensive beauty brands occupy the mainstream, and functional skin care brands represented by Polaiya, Winona and Xiulike gradually rise.

In Tik Tok, another important position of beauty cosmetics, the brand pattern is different. Before that, some international brands didn’t enter Tik Tok, but domestic brands took advantage of the traffic bonus to win some opportunities. In the face of international big-name competition this year, domestic brands still have comparative advantages, achieving breakthroughs with high cost performance and refined channel operation. It is worth noting that the beauty instrument brand is outstanding in the beauty category in Tik Tok, which may be due to the live e-commerce gene of the platform, and the anchor can convey the complex principle, function and use experience of the beauty instrument to consumers.

The change of brand pattern is only the appearance, and behind the replacement of domestic brands, there are some phenomena worthy of attention.

On the whole, in addition to the cost-effective advantage, the rise of domestic brands is largely due to the accurate understanding of the needs of local consumers and the targeted launch of large single products. This feature is particularly evident in the category of skin care products. Domestic brands focus on consumers’ anti-aging anxiety and popular skin care concepts such as formula skin care, morning C and evening A, and barrier repair, and launch large single products that focus on maintaining stability, anti-aging and anti-wrinkle, contributing an important sales share to the brand. Winona Soothing and Repairing Freeze-dried Mask, Quaddy Essence, Kanshuhong Waist Suit, and Polaiya Early C Late A Suit have all appeared on the list of explosive items in double 11 on the e-commerce platform. Guoji Feigua’s 2022 double 11 Yuehaowu Power Saver Data Report shows that Polaiya’s early C late A combination contributed about 35% of its sales in double 11, Tik Tok in 2022 (from October 15th to November 11th, 2022).

Hot topics related to skin care on social platforms, image source: Fruit Collection "Insights into Accurate Skin Care Crowds on Social Media Platforms in 2023"

Large single products help domestic brands occupy a place in the list, but whether the brand stands stably enough and rushes high enough depends on whether the product iteration and category expansion can be carried out around the core efficacy to extend the product life cycle. Take Polaiya as an example, its core product series has been iterated for 2-3 generations, and many categories such as essence, water emulsion, cream and eye cream have been introduced. This helps the brand to enrich the sku portfolio, continuously create a "freshness" and increase the customer unit price. Before double 11, Polaiya released Ruby Cream 3.0 series, which contains three textures of lightness, moisture and lightness to meet the needs of different skin types. This product is also the best-selling product of brand Tmall flagship store in the past year. According to the official list of Tik Tok, Polaiya’s Early C Late A Essence Cream Set was shortlisted in double 11’s beauty explosion list. The price of this group member is close to 700 yuan, which greatly improves the price range of the product.

Compared with the field of skin care, the overall competitiveness of domestic brands in makeup is still not as good as that of international brands, especially in the high-end price band. The reason is that domestic cosmetics are mostly designed innovatively around "Chinese aesthetics", and the advantage lies in color-related categories, but the fashion trend of cosmetics changes rapidly, which is difficult to bring high consumer loyalty to brands. Domestic brands still need to make breakthroughs in skin feeling and makeup effect in order to break the situation dominated by international big brands and explore the high-end price. Perfect Diary, which was criticized for focusing on marketing, gradually paid more attention to the functional attributes and technical barriers of products. Before double 11, the brand released its "bionic membrane" essence lipstick, which is the research result of "integration of makeup and nourishing", focusing on the combination of red makeup effect, lip essence effect and lip membrane, to show the brand’s breakthrough in scientific research and innovation.

Another obvious feature of the great promotion is that the pattern of domestic beauty cosmetics is moving towards differentiation. Judging from the performance of domestic brands in different stages of Tmall double 11, many brands have become "dark horses" with the help of the initial promotion atmosphere, super-anchor delivery and other factors, but they often have bright short-term performance and insufficient stamina, and few of them can continue to lead in the whole cycle. Under the trend that Japanese and Korean brands are cold and consumers are disenchanted with international brands as a whole, the development of domestic brands is welcoming, but it is still necessary to continue to precipitate the normal operation ability and cultivate brand endurance on the basis of explosive power.

Generally speaking, domestic beauty cosmetics have ushered in a "reversal" moment during this double 11 by accurately understanding the needs of local consumers, constantly expanding the matrix of large items, high cost performance and refined channel operation.

More than "big items"

Relying on the explosive strategy to meet the current hot demand, domestic beauty brands have the opportunity to "go to the table" and gradually narrow the gap with international brands. However, from the results, it is difficult for domestic beauty products to obtain long-term growth momentum by relying on explosive products. Only by creating a "big single product" and developing a "big brand" can a brand resist a round of shuffling and sit at the poker table for a longer time.

It is not without trace that domestic brands represented by Polaiya and Winona have won great victories. They benefited from the rise of the component party and the efficacy party, and implemented the strategy of "big single product", but they did not rely on this strategy. As mentioned above, the three series of Polaiya Double Antibody, Ruby and Yuanli have been extended from essence to different categories. This year, Polaiya launched a new energy series for the anti-aging needs of mature muscles, and its three-piece energy set, which cost more than 1000 yuan, entered the live broadcast room in Li Jiaqi during its stay in double 11, which shows the brand’s intention to push this series. Winona, Kerfumei and other brands are also constantly expanding their category matrix and reducing their dependence on a single big item. After verifying the heat of recombinant collagen components with collagen rods, Kefumei accelerated the pace of promoting new products, supplemented the categories of emulsion and mask, and its water supply line and oil control line also launched different types of products one after another.

The richness of brand category structure, on the one hand, represents the life cycle and anti-risk ability of brand products, on the other hand, represents its coverage of different levels of consumer demand and different scenarios. The application of patented ingredients to the technical threshold such as essence and cream with higher premium ability also helps domestic brands to gradually get rid of the image of relying on low prices and explore high-end prices. According to Polaiya’s financial report, the average selling price of the company’s skin care products increased by 57.05% year-on-year, mainly due to the year-on-year sales increase of essence and cream products with higher unit price.

From the above results, we can see that domestic beauty cosmetics are taking enhancing product research and development capabilities as a strategic goal and tearing off the label of "emphasizing marketing and neglecting research and development". Local beauty companies have increased the proportion of R&D investment, and focused on components, raw materials and other links that can help enterprises build barriers. In recent two years, synthetic biology, molecular biology and other technologies have been accelerated to be applied to skin care products, and "skin care+biological components" has become a high-growth concept of beauty track, which requires enterprises to carry out collaborative research on basic research, functional raw materials and formula system. According to Zhongxin. com, there are currently 121 research and development projects on raw materials and synthetic organisms in Huaxi Bio. Double 11’s outstanding Fumei brand, its parent company Juzi Bio has four collagen medical beauty products under research, two of which are expected to be approved in 2024, becoming a new source of growth for the enterprise.

Image source: CBNData《2023 Oriental Beauty Valley Blue Book "

Another dimension that domestic brands have been examined for a long time is the ability to operate omni-channel. This batch of new domestic brands have risen online. When the traffic dividend is gradually divided up, on the one hand, brands need to treat online channels in a refined way to improve profit margins. On the other hand, they begin to respect traditional channels, return to offline and near-field e-commerce, and even enter duty-free shops to find new growth opportunities. However, with the new channels, there are new ways of playing and brand logic, as well as powerful opponents. Domestic brands still have a long way to go.

Grouping proposition

From the perspective of single brand, domestic brands initially have the right to speak in the beauty industry with big names. However, from the perspective of the group, there is still a big gap between the comprehensive strength of domestic brands and international beauty cosmetics. As mentioned at the beginning of the article, almost half of the seats in double 11’s e-commerce platform beauty list this year belong to L ‘Oré al’s brands. Although the performance of Estee Lauder Group declined in fiscal year 2023, the main brands of the same name, Estee Lauder and Hailan Mystery, are still relatively strong in the high-end price band.

"L ‘Oré als" have achieved the coverage of different categories, price bands and sub-groups by virtue of top-class, high-end, Volkswagen, cinema and other brands, and better enhanced the Group’s ability to resist risks. No matter how the external environment and consumer demand change, there are corresponding sub-brands in the group to undertake.

However, domestic beauty cosmetics have not yet owned their own "L ‘Oreal" and "Estee Lauder". Although Polaiya, Huaxi Bio and Juzi Bio take the multi-brand route, at present, their dependence on a single brand is still relatively high, or the differences between sub-brands are not obvious. Although the ingredients and focus areas of Fumei and Kelijin under Juzi Bio are different, the brand needs to further formulate differentiation strategies in order to make consumers clear about their differences. According to the data of Polaiya’s financial report, in the first three quarters of 2023, the main brand contributed about 80% to the Group’s revenue, and Caitang accounted for about 10% of the total revenue. The sub-brands such as Off&Realx and Yuefushi made little contribution, and it remains to be seen whether they can become the "N-th growth curve". At the brand’s 20th anniversary strategy conference, Polaiya said that she would innovate the strategic planning, from "troika" to "6*N strategy", and broaden the multi-category matrix of skin care, make-up, toiletries and high-efficiency categories.

In addition to self-incubation, some brands refer to L ‘Oré al’s acquisition strategy to build their own brand matrix. Take Yixian Group as an example. Since 2019, it has successively acquired cosmetics brand Odin, French high-end skin care brand Kelanli, British high-end beauty brand EVE LOM, and functional skin care brand DR.WU (business in Chinese mainland). On the one hand, it has improved the layout in the field of skin care, on the other hand, it has told high-end stories. Increasing the proportion of skin care business has indeed improved the financial situation of Yixian e-commerce. The financial report shows that Yixian e-commerce has maintained an upward trend in gross profit margin in the past four quarters, with a gross profit margin of 74.7% in the second quarter, up 11.9% year-on-year, the highest in a single quarter since listing.

In addition to the width of demand, the gap between domestic brands and international brands lies in the depth of brand value. Beauty has always been regarded as a category with great emotional value, and emotional skin care is also a hot topic on social platforms. Polaiya has recently made intensive speeches on gender equality, mental health and emotion to show the social value of the brand. On the basis of brand-level vocalization, domestic beauty cosmetics are also integrating emotional concepts into products. During the 6th China International Import Expo(CIIE), Yixian E-commerce unveiled the Shanghai Global Innovation R&D Center, and "emotional skin care" is one of its four major R&D fields in the future. EVE LOM brand bears the realization of this concept. It launched the fragrance candle of "Manor after Rain" in China International Import Expo(CIIE), and tracked and analyzed the emotional changes of users when they experienced the SPA through the AI brainwave emotional test instrument to show the brand’s emotional skin care technology.

From supplementing research and development, creating large single products, enhancing brand power in multiple dimensions and developing towards collectivization, domestic beauty cosmetics are constantly evolving. However, compared with international brands that have experienced long-term accumulation, there are still many gaps that need to be filled. At present, China consumers’ recognition of domestic products has increased, and Japanese and Korean brands have given up some market share in the cold, so domestic beauty products have ushered in new development opportunities. This year’s double 11 can be said to be the best performance of domestic beauty products. Jumping out of the promotion atmosphere and price advantage, domestic brands need to make more efforts to prove their unique value. As consumers, we may wish to give more opportunities and patience to domestic beauty cosmetics, so as to wait for the brand to hand over better answers.

Cover image source: unsplash

In the 15th round of the French Lixion, Paris, who fought away, pulled three goals in a row first, and finally defeated Saint Etien with 3-1, scored 3 points. But after the game, many fans of Paris are not happy, because the superstar Neymar in their team is seriously injured, and he will be absent from 6-8 weeks. Neymar’s curtain performance in 2021. When everyone was still regretting Neymar, the Spanish "World Sports News" recently broke out a controversial news, and the wind direction of the fans has gradually changed from blessings to criticism!

At 10 o’clock in the middle of the night on November 29th, Beijing time, Spain’s well -known media "Daily Sports News" broke the news that Neymar was immediately treated with a brief treatment after being injured and leaving the scene. Participants listened to music, smoking smoke, and playing poker together. They kept carnival until 6 o’clock in the morning. And singer JOTTAPE also posted a photo of the two on social media early in the morning, which has also become the best evidence of the matter!

After seeing this news, many of the fans who were still worried about Neymar turned their faces directly and began to severely criticize the Brazilian foot on the Internet. Some fans left a message: "I was very distressed by Neymar. Now seeing this news, I can only say that it deserves it. Perhaps he wants to participate in the party more than the stadium." And the fans said: "After all, the fans said:" After all, the fans said: "After all It is a Brazilian, you can understand. The examples of Xiaoluo and Ade are all in front. "However, some fans made suggestions for Neymar:" I hope he will learn more from the elder brother Alveis and extend as much as possible as possible. In his career, if he retire early, it is a huge loss for Brazil and fans! "

In fact, there has been no interruption on the lace news of Neymar’s field. He loves to visit the nightclub and likes to open the party. It is almost well known in the Paris team. His swaying behavior has also recruited a lot of doubts, but Neymar disagreed with this. He had publicly recovered the reporter at the press conference: "Why can’t I go to the nightclub? You will definitely live like me like this. I will go to the nightclub in the future. I think this is not a problem! "

In the season, Neymar played 14 games for the Paris team, contributed 3 goals and 3 assists, creating a new low since landing in Ligue 1. This "third person in the world" that was once inferior to Mero, if he could not focus all of his attention on football, then his career would be missed with the Golden Globe.