Chinese beauty market continues to boom

Endaba Group

The Chinese beauty market continues to boom! Despite less frequent purchases, the market is expected to reach $50bn by 2020 due to the high demand for skincare products. The beauty retailing market seems resistant to decline; total retail sales of cosmetics in China grew 12.3% to $30.7bn last year, at a time when the Chinese market as a whole had been struggling. M-commerce is growing alongside the beauty market, with as many as 44% of consumers using a mobile device to pay for cosmetics in 2015 – double the number in 2014