Although the beauty market was once cold due to the impact of the epidemic, most people are still quite optimistic about the future of the beauty market. It is expected that the global beauty and cosmetics industry will reach US$463.5 billion in the next three years. So, how can cross-border e-commerce companies seize the opportunity to tap the overseas beauty market?
1. Market selection.
European and American markets: European and American countries have developed economies, high consumption levels, high beauty costs, and the overall beauty and skin care market is relatively large. In addition, consumers in Europe and the United States prefer variety and are more friendly to new products. However, competition in the European and American markets is very fierce, and most well-known beauty brands come from Europe and the United States, coupled with high marketing costs, so it is not easy for sellers to share.
Japanese and Korean markets: As Asians, there is not much difference in beauty preferences between Japanese and Korean consumers and Chinese consumers. Therefore, it is easier for sellers to grasp consumer preferences. However, consumers in Japan and South Korea pay more attention to brands, so if sellers decide to target Japan and South Korea, they must attach great importance to product quality, user experience, brand marketing, etc.
Southeast Asian market: With the rapid growth of population and rapid economic development in Southeast Asia, the beauty and skin care market in Southeast Asia has expanded rapidly in recent years. However, if sellers are ready to open up the Southeast Asian beauty market, they will face two main problems. One is that there are many countries with different beauty preferences, and the other is that Southeast Asian consumers are more price-sensitive, so it is difficult to raise prices.
2. Subdivide the track.
Beauty and skin care is the entire track, and naturally there are many subdivided tracks below. For most sellers, their energy and resources are relatively limited, so they still need to start with a small segment and then expand the category.
The skin care segment includes body care, facial care, hand care, skin care sets, etc. Facial care is the largest market segment, accounting for 78% of the entire skin care product market, but obviously the market Big and fierce competition. Body care and hand care have also been growing in recent years. Although the market share is small, competition is relatively less intense.
The beauty segment includes eye makeup, facial makeup, lip makeup, manicure, makeup sets, etc., among which facial makeup accounts for the highest proportion, reaching 38%. In fact, there is not much difference in the market size of each sub-category in the beauty industry. Sellers can choose a small segment to enter, such as makeup, concealer, etc., which is more likely to stand out.
The above is a content sharing on how cross-border e-commerce companies can seize the opportunities in the overseas beauty market. You must know that although the potential of the beauty and skin care track is very considerable, the competition is also very fierce, so sellers should be prepared for this aspect. Be mentally prepared.