Beauty Brands Benefit From Consumption Upgrade in China04/03/2019
SHANGHAI — Leaders of some of the top beauty and FMCG brands in Alibaba’s multifaceted ecosystem of platforms, stores, innovation labs and more met here Monday for the Tmall Beauty Summit 2019. The world’s second tallest building, the Shanghai Tower, played host to the event and epitomized the dizzying heights that the innovative online beauty sector has reached in China.
Sales of beauty products on Alibaba’s Tmall increased by over 60 percent last year, exceeding the industry’s average growth rate, according to a report released by Tmall and market research firm Kantar during the summit. The report showed that online sales of cosmetics and personal care products grew by 37 percent and 36 percent, respectively, in China for the previous year. These two categories came in ahead of the FMCG sector’s 32 percent average.
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