Beauty in the East

Recently a report I read on Marketing Daily from the US was saying that the under the effect of recession, the high-end beauty industry was affected. The industry's sale was falling, especially for fragrance and make-up, the sales declining rate is higher. For premium skin care, it keeps flat even there is no decline. From a consumer point of view, skincare is more a necessity compared to fragrance or make up, so it is not a surprise to see make up and fragrance's sales drop more compared to skincare.

In China, the drop seems not as much as the west, but I think the market is still affected especially for those minor brands. For stronger or major brands, the effect may be less. But one thing which is true is that consumers are still spending, but their spending habit has been changed, becomes more selective and careful.

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