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Article: Chinese cosmetic market continues to surge: marketers have been reducing prices to increase their market share. (Notes from China).
- Article from:
- Household & Personal Products Industry
- Article date:
- October 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Rodman Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE CHINESE COSMETICS, fragrances and toiletries industry, posted excellent results last year, according to industry experts. A study conducted by the China National Fragrance & Flavor Cosmetics Industry Association found that total cosmetic sales increased 14.3% last year to $4.8 billion. The growth rate of the cosmetic industry is far higher than that of the GDP of China, which was 7.3% last year.
Competition between multinationals and local players is heating up across the country, but some key consumer purchasing patterns are beginning to emerge. For example, consumers in large cities with a higher level of disposal income have a preference for well-known ...