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The first China-Japan Beauty Summit Forum concludes in Shanghai

Tao Beauty and Cosmetics Chamber of Commerce (TBCCC)
2019-10-25 14:59 606

SHANGHAI, Oct. 25, 2019 /PRNewswire/ -- Co-organized by the Tao Beauty and Cosmetics Chamber of Commerce (TBCCC), The Japan External Trade Organization (JETRO) and Alibaba's shopping platform GMall, the first China-Japan Beauty Summit Forum was held in Shanghai on September 23, 2019. The event consisted of two sub-forums, one for retailers and the other for brands, where 12 Chinese and Japanese beauty professionals engaged in in-depth discussions during which they analyzed the trends taking place across a number of Japan's cosmetics- and personal care-related sectors, including their characteristics, latest developments and technological innovations, in addition to looking at how several Japanese cosmetics brands have entered and then further expanded their footprint in the Chinese market.

The first China-Japan Beauty Summit Forum concludes in Shanghai
The first China-Japan Beauty Summit Forum concludes in Shanghai

Tao Beauty and Cosmetics Chamber of Commerce (TBCCC) president Jian Weiqing said, "With the hosting of such a professional industry event, the Chamber aims to promote the joint development of both the Chinese and Japanese cosmetics markets, injecting a new round of dynamism into the international cosmetics industry."

The first China-Japan Beauty Summit Forum concludes in Shanghai
The first China-Japan Beauty Summit Forum concludes in Shanghai

Currently, Japan is the world's third largest cosmetics market following the United States and China. Japan's exports of cosmetics have been increasing since 2016 and are now double that of the country's cosmetics imports. Notably, exports to China now account for 70 per cent of Japan's total sales of cosmetics, making it the country's largest external destination for the sector.

The first China-Japan Beauty Summit Forum concludes in Shanghai
The first China-Japan Beauty Summit Forum concludes in Shanghai

The more stringent expectations among Japanese consumers when it comes to what they will apply to their face has promoted continuous innovation in the R&D divisions of Japanese cosmetics manufacturers while driving the rapid growth of the country's cosmetics exports, according to Tetsuya Kambe, Director for the International Division of the Japan Cosmetic Industry Association.

"In the international cosmetics arena, only the best products can survive," indicated Saticine CEO Satoshi Yamazaki. "Research and development by the industry's OEMs that combines effectiveness and safety is not only necessary for the manufacturing of top-notch products, but also a key factor in helping Japanese cosmetics manufacturers maintain their strong competence in R&D and production."

"In 2019, ahead-of-the-curve products, an approach that meets the personalized expectations of today's consumers and technology empowerment are the three major investment opportunities on tap for the cosmetics industry," stated Zhao Ge, investment promotion director at Tmall Global for Asia. "To help global brands access the opportunities in the Chinese cosmetics market, Tmall Global has been committed to assisting new international merchants in selling products on the platform by constantly improving its cross-border infrastructure.

"Driven by the constant updating in what consumers expect from their personal cosmetics lineup, the Chinese market for products originating from outside the country is entering a period of rapid growth, with Japanese brands leading the way," said Tu Xian, head of brands and supply chain at GMall. "As the largest overseas shopping platform in China, GMall plans to take a highly personalized approach to introducing high-quality overseas brands to domestic consumers, while, at the same time, incubating small and medium-sized international premium brands to help them grow and thrive in the Chinese market."

"Japanese brands need to do some research and set their market expectations, by working with China's leading Key Opinion Leaders (KOLs) to improve their marketing performance, before assembling resources to launch marketing campaigns in the Chinese market," noted Xu Sheng, co-founder of Chinese cross-border e-commerce firm Bolome. "Marketing targeting young consumers is particularly important as they have become the main force of consumption. As a result, Japanese brands should focus more on promoting themselves on Bilibili, China's leading online video platform that mainly targets the youth segment, in addition to other popular Chinese social platforms, including Douyin.com and kuaishou.com."

In addition, several other guests also shared their thoughts on the trends sweeping the industry at the event, including Kanebo Cosmetics (China) Co., Ltd. deputy marketing director Li Wenji, Beauty Evolution Chief Marketing Officer Zoe Chou, Tmall merchant strategy head responsible for investment promotion of international brands Dao Qi as well as YANO Research managing director Akihiro Yoshida.

This marks the first time that the Tao Beauty and Cosmetics Chamber of Commerce (TBCCC) has hosted a professional national beauty forum. The event focused on Japanese cosmetics brands due to their great growth potential in the Chinese market. Besides the forum, the Alliance also held an investment and trade fair featuring brands from a single foreign country for the first time, attracting some 5,000 visitors.

Photo - https://photos.prnasia.com/prnh/20191025/2622222-1-a?lang=0
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Source: Tao Beauty and Cosmetics Chamber of Commerce (TBCCC)
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