Can Chinese Domestic Cosmetics Continue to Thrive?

DOI

10.2991/aebmr.k.220307.270How to use a DOI?

Keywords

Chinese cosmetics; Brand value; Innovation; Key opinion leader

Abstract

The development of China’s cosmetics industry has a long history. It can be traced back to the Xia Dynasty. Until now, with the expansion of the Cosmetics market in China and the development of e-commerce, it has created good conditions for the rise of domestic cosmetics. However, most of the top 10 brands are still international high-end cosmetics brands. This paper puts forward three ways to solve the present situation of domestic cosmetics. The first is to enhance the brand value. It can be built by the company itself or by cooperating with other brands to obtain more added value. The second is do not rely too much on key opinion leader, brand sales need to broaden sales channels. Third is companies focus on product differentiation and actively research and develop new products. The results of this study revealed that Chinese domestic cosmetics have gradually begun to compete with foreign high-end cosmetics, and have made certain achievements. However, due to the low-price positioning, original equipment manufacturing products, and excessive reliance on key opinion leader marketing, the development of Chinese domestic cosmetics is in a bottleneck period, and it is difficult to compete with foreign brands. This research suggests Chinese cosmetics enterprises uphold their advantages while building brand value and continuous independent innovation. This road is indeed difficult, but it is a long-term process to become a global cosmetics industry leader.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Jiawen Liu
PY  - 2022
DA  - 2022/03/26
TI  - Can Chinese Domestic Cosmetics Continue to Thrive?
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1650
EP  - 1655
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.270
DO  - 10.2991/aebmr.k.220307.270
ID  - Liu2022
ER  -