CHINESE MILLENNIALS FAVOUR COLOURS, EYEING HIGH PRICE TAGS
October 1st, 2017
WHEN looking at the future of the mainland China beauty market, the key demographic for brands to look to are Chinese millennials. Not only are they young and so have years of shopping ahead of them, they are prepared to spend generously on high-end personal care products.
According to the German research firm GFK, sales of luxury cosmetics, whose unit prices exceeds Chinese Yuan Renminbi CNY300 (USD45), within department stores in China grew 64% year-on-year in the first half of 2017, compared 56% year-on-year for the whole of 2016. Meanwhile, sales growth for ...
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