Chloé Goncalves | Exfoliating China's Cosmetics Industry

<p><strong>Topics Discussed and Key Points:</strong></p><p>●      A general overview of the cosmetics market in China</p><p>●      The most popular beauty products in China compared to the rest of the world</p><p>●      The popularity of live streaming in the beauty space</p><p>●      A primer on Key Opinion Consumers (KOCs)</p><p>●      How consumer behaviors in China differ from those in the West in the cosmetics market</p><p>●      Hero products by the largest cosmetics brands in China</p><p>●      Why there are significantly more male consumers for beauty products in China than in the West</p><p>●      Advice for cosmetics brands looking to enter China</p><p>●      Cutting-edge marketing tactics particular to China</p><p>●      What up-and-coming companies are doing to compete with large, even global, brands</p><p>●      How COVID-19 has affected the Chinese cosmetics industry</p><p>●      L'Oréal’s China strategy</p><p><strong> </strong></p><p><strong>Episode Summary:</strong></p><p>Today on The Negotiation, we speak with Chloé Goncalves, Asia E-Commerce Manager at L'Oréal. Previously, she served at Alibaba as a Digital Marketing Manager, working up to the role of International Business Development Manager for Tmall Global before leaving the company in January 2021 to work with L'Oréal.</p><p>The cosmetics market has grown exponentially for the past several years, and today is the second-largest in the world after the U.S, with an estimated revenue of $22 billion—an amount that is expected to triple by 2024. 25% of sales take place via E-Commerce, and this number has been rising faster than ever thanks to COVID-19.</p><p>Chinese women generally have a more extensive skincare routine than those in the West. Skin whitening products are also a staple in the market. Also, because of the high pollution problem alongside high-stress lifestyles, Chinese consumers tend to seek products that address specific problems, including blemish, wrinkle, and acne removers. Finally, there has been a rise in the popula