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Economic Slowdown Fails To Dampen Demand For Beauty Products In China

July 27, 2016: 12:00 AM EST
In China, 65 percent of consumers say they increased their spending on facial skincare products in 2015 than they did in 2014, according to Mintel. Data from the market research firm's report “Beauty Retailing China 2016” revealed 52 percent of consumers say they are buying more beauty supplements, while 46 percent said they buy more color cosmetics. During the years 2014 and 2015, total retail sales of cosmetics in the country grew 12.3 percent to RMB 204.9 billion. Mintel predicts the market will maintain its strong growth to reach RMB 338 billion by 2020, driven by the high demand for skincare products.
Lucy Whitehouse , "Spending on beauty up in China, despite cooling economy", Cosmetics Design , July 27, 2016, © William Reed Business Media SAS
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