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Cosmetics continue to dominate the market

Cosmetics continue to dominate the market

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Industry News
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2018/05/16
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化妆品继续主导电商市场

 

  A consumer data report from the Kay Consumer Index and Bain shows that in the past four years, e-commerce has grown at an average annual rate of more than 35% in China, and the market size in 2015 was nearly 4 trillion yuan. China is currently the world's largest e-commerce market. The penetration rate of e-commerce has maintained a double-digit growth rate, and the average online shopping frequency has increased to nearly five times a year.
  Among them, in the first-tier cities, 8.4% of FMCG products were purchased online; in the fifth-tier cities, e-commerce channels accounted for only 2.7%. But this also means that in the lower-tier cities, online shopping consumption still has a lot of room for growth. The Kedos Consumer Index pointed out that the average price of e-commerce channels in the third- and fifth-tier cities is higher, because the consumption of e-commerce channels in these cities is mainly concentrated in a few high-priced categories. For example, skin care products account for 65% of fast-moving consumer goods channels in fifth-tier cities, and this proportion is only 34% in first-tier cities.
  Because of the high penetration rate of e-commerce channels, baby products and cosmetics continue to dominate the market for conductive goods, and other categories are catching up quickly. Home care products and some personal care products have grown rapidly despite the moderate penetration of e-commerce. E-commerce retailers and brands are aggressively promoting these categories to increase penetration. For example, in the "Tmall Washing Festival" in July each year, merchants will promote shampoo, conditioner and personal cleaning products. The Kaidu Consumer Index believes that in the new sales environment, companies should also develop digital capabilities and mindsets within the market and sales teams, combined with in-store promotion and online digital marketing activities to enhance brand penetration.
 
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