Study on the Development Path of Cosmetics in China

Abstract

With the improvement of economic level and the change of people's consumption concept, cosmetics have become an essential item in people's life, which led to the outbreak of the personal care industry of cosmetics and provided the soil for private business. With the development of China's economy and the improvement of consumption capacity, since the millennium, domestic cosmetics brands have begun to rise, especially as the post-90s and post-95s become the main consumers, China-Chic consumption has become a trend, Since 2016, a large number of cutting-edge brands (such as Huaxizi and Perfect Diary) have emerged to promote the comprehensive rise of domestic products, breaking the long-standing pattern of foreign brands leading the beauty and personal care market. Therefore, China's cosmetic market has made remarkable progress in recent years, and more and more Chinese brands are loved by people, thanks to the rapid development of the Internet, which has indirectly led to the live bandwagon. This paper will introduce the market scale of Chinese cosmetics in detail, as well as discuss the current situation and problems of the development of Chinese cosmetics. Finally, the paper will illustrate the development path and outlook of China's cosmetics in terms of investment in research funding and digital transformation.