A VERY MODERN MARKET

摘要

Although the Chinese economy has been slowing down in recent years,the country's retail market is doing pretty well.In fact,according to a new report by market researcher eMarketer,mainland China is set to overtake the US as the world's largest retail market by the end of 2019,with domestic retail spending pegged to grow 7.5% to a total of US$5.64 trillion.A factor shaping the Chinese C&T market is the role played by domestic beauty brands.For many years,Chinese consumers preferred to buy imported food and beauty brands.However,over the past couple of years,the Chinese government has tightened regulatory restrictions and increased safety procedures-and in the domestic C&T market at least these measures are finally yielding results.According to a recent report by Qianzhan Industry Research Institute,domestic brand market share among the top 20 cosmetics brands in China grew 10% between 2011 and 2019,signalling that consumer confidence in China-made cosmetics is finally returning.The popularity of local beauty brands was also reflected in the exhibitor line-up at China Beauty Expo 2019.According to organiser Informa Markets,this year's trade show saw a sharp rise in local brand strength,with the number of domestic brands almost reaching that of the established imported beauty brands.And the 24th edition of mainland China's most important cosmetics trade fair was bigger than ever.There were more than 3,500 exhibitors from 40 countries this year,with 27 exhibition halls and 50 VIP halls(mostly tents)that were spread out over 260,000sqm of exhibition space in Shanghai's New International Expo Centre(SNIEC).