Japan’s decision to release treated radioactive water has led to reluctance among Chinese beauty consumers to buy Japanese beauty products.
Since June, chatter on social media platforms such as Xiao Hong Shu, or Little Red Book, emerged questioning the safety of Japanese cosmetic products.
“There’s been a lot of content [on the impact of the wastewater release] on Xiao Hong Shu and Weibo since June. It has continued till now, especially now that China has banned seafood imports from Japan,” said Allie Rooke, founder of Clean Beauty Asia and Chinese beauty market expert.
American beauty multinational Coty is targeting further growth for Burberry Beauty in China after recent successes in makeup and fragrance, alongside the impending launch of its first refillable perfume bottle.
During the company’s fourth-quarter earnings conference, CEO Sue Y. Nabi highlighted that Burberry Hero has climbed the ranks to become the number three male fragrance in China.
According to the firm it is behind blockbuster fragrances Bleu de Chanel and Dior Sauvage.
The Chinese consumer is reining in previously impulsive buying habits and prioritising efficacy and functionality, says a top executive from Yatsen Holdings.
Vice President and head of strategic investments and capital markets, Irene Lyu noted that the shopping habits of Chinese consumers has altered.
“Consumer behaviour has shifted a little bit from previous impulsive buying habits toward more rational behaviour, which also kind of demonstrates that very strong efficacy and functional value actually probably attract more consumer attention and buying.”
The US beauty market could potentially be fertile ground for Asian cosmetic brands which are valued for their efficacy, innovation, and unique approaches to beauty.
In recent years, Asian beauty brands have gained significant recognition and influence worldwide, and the US is no exception. US beauty consumers have increasingly acknowledged the efficacy, innovation, and unique approaches that Asian beauty brands offer.
Cassandra Stern, editor of CosmeticsDesign-US said that US consumers associate Asian brands like Shiseido or Tatcha Skincare with “quality”.
B2B e-commerce platform Alibaba.com plans to help more South Korean SMEs strengthen digital capabilities to expand their overseas sales channels, after successfully enabling cosmetics trading firms like BigPie C&T gain 80% growth.
Alibaba.com is currently available in more than 190 countries, with over 47m active buyers.
Korean cosmetics trading company BigPie C&T, founded in 1999, is an example of a business that has benefited from the platform.
Alibaba.com intends to help more Korean small and medium-sized enterprises (SMEs) create such success stories.