L ‘Oré al launched the 2023 China ＂Good Consumption＂ Trend Report： Decoding ＂Beautiful New Potential Energy＂.

At the launching ceremony of "2023 Shanghai International Beauty Festival" held on May 11th, the report "Beautiful New Potential Energy" jointly produced by L ‘Oré al China, Shanghai Jiaotong University Industry Research Institute and national business daily-2023 China "Beautiful Consumption Trend Report: Decoding" Beautiful New Potential Energy "was officially released.

It is understood that the report expounds the great power of beauty cosmetics and social development in China from 10 changing trends in concept, industry, market and society and five developing directions in the future, hoping to provide a new perspective for the government, cosmetics enterprises/industries and partners in other industries to analyze the innovation and development of cosmetics and find and embrace new opportunities.

The report also shows that consumers in China are continuously increasing their spending on cosmetics. In 2017, the domestic per capita consumption of cosmetics was 181 yuan, and in 2022, the domestic per capita consumption of cosmetics reached about 407 yuan, an increase of about 125%. It is estimated that in 2025, the domestic per capita consumption of cosmetics will reach about 600 yuan.

The report points out the five endogenous kinetic energy of China’s beauty-more innovative, more inclusiveness, more polarization, more global localization and more sustainability, which makes beauty become a "hyperlink" of beautiful consumption, and realizes the two-way development of beauty and beautiful China.

After 26 years in China,

L ‘Oreal’s Road to Growth

It is also the beauty industry in China.

The epitome of the magnificent development road.

At the end of 2022, L ‘Oré al put forward a brand-new concept of "beautiful new potential energy" for the first time, and provided a brand-new perspective for all walks of life to embrace the development opportunities of the beauty industry through a comprehensive interpretation of the dynamic and potential energy transformation of the beauty industry and China’s economic and social development. In L ‘Oré al’s view, the definition of beauty cosmetics is no longer the same as in the past. The status and development of beauty cosmetics in China is more like a scene in which industry and socio-economic development promote each other and complement each other. The process of dynamic and potential energy conversion between beauty cosmetics industry and socio-economic development constitutes an ecological circle with constant positive circulation.

"In the past three years, everyone has changed a lot about consumption, its behavior and significance, and beauty has become a beacon industry for consumption, not only contributing to economic development against the trend, but also becoming a development accelerator, and more importantly, bringing people a beautiful yearning."

Lan Zhenzhen, Chief Corporate Affairs and Public Linkage Officer of L ‘Oré al North Asia and China, said that this research is another breadth and depth improvement of L ‘Oré al’s consumption concept and social significance to the beauty industry after it put forward the concept of "good consumption" in 2020. I look forward to working with all my beauty colleagues to contribute to L ‘Oré al’s beautiful new potential for boosting consumption, expanding domestic demand, and promoting a better life and high-quality development.

In addition to the first report, as an old friend who participated in the "Shanghai International Beauty Festival" for four consecutive years, L ‘Oreal was awarded the "Shanghai Beauty Festival Special Contribution Award". Lancome, Uemura Hideyoshi, urban decay and Paris Cashi participated in the live broadcast of the Beauty Festival, bringing multidimensional experience of online and offline linkage to consumption, and won the "x wwd Fashion Leading Award of 2023 Shanghai International Beauty Festival".

Scan the code to get the full text of the report

Reporter: Huang Xiaoqing

Photo: L ‘Oré al China

Editor: Xu Yuelin

Please indicate the official WeChat from Jing ‘an, Shanghai.

ShangguanNo. Author: Shanghai Jing ‘an