2022 Witnesses Chinese Black Friday Fever to Cool down, Leading Beauty Brands to Go Global, Like Flower Knows
Retrieved on:
Thursday, December 22, 2022
However, after seeing this year‘s Double 12 performance, these beauty brands also encountered setbacks online and offline, partly due to the Covid lockdown impact.
Key Points:
- However, after seeing this year‘s Double 12 performance, these beauty brands also encountered setbacks online and offline, partly due to the Covid lockdown impact.
- This has accelerated the process of Chinese beauty brands buckling down on global market expansion.
- According to the 2022 Pan-Asian Beauty Industry Report, the global beauty market was worth $83.7 billion in 2021, and this figure is expected to rise to $107.6 billion by 2025.
- It is also not difficult to imagine that under the background of the fierce competition in the Chinese beauty market and the slowdown in the growth of the beauty industry, many Chinese beauty brands will go global.