Going for China's glam market
Updated: 2015-01-16 12:02
By Zhang Yuwei(China Daily USA)
Foreign brands are using Chinese e-commerce platforms, including Alibaba, Jumei and JD China's e-commerce giant Alibaba's online retail Tmall also helps open retail channels for foreign brands, especially those new brands including Peter Thomas Roth and Erno Laszlo.
JuE Wong, CEO of StriVectin, a brand known to be the pioneer in clinical anti-aging skincare, said the power of these social media platforms will help increase sales further as "buy" components are added and evolved.
"Shopability will make it even more convenient for consumers via guided reviews and recommendations to support buying decisions, and ease and security of purchase," said Wong. "Together with the power of data collection and analytics, which allow brands to tailor and customize communications with the consumer, the experience is essentially like having a personal shopper in your pocket for every aspect of their consumption needs."
iReserach, a market research firm focusing on China's internet industry, said the reason for the stable growth in China's cosmetics market - which is to hit 113.9 billion yuan in 2017 with an annual growth of over 20 percent - is its well-developed online shopping market.
Frank Lavin, a former US undersecretary of Commerce for International Trade and founder of Export Now, which has a partnership with Tmall, said e-commerce is a powerful tool for foreign brands because it allows them to test products quickly and inexpensively.
"Similarly, digital communications allows brands to test themes and messages quickly and inexpensively.E-commerce allows the newer and smaller brands to compete on the same footing as the larger and well-established brands," said Lavin.
But everything has two sides. Online retail brings certain concerns too.
"The main challenge and caution for the consumer using e-commerce is making sure the products they buy come from an authorized dealer to ensure the product is authentic and comes directly from the brand," said Clairesonic's Akridge.
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Lu Huiquan in New York contributed to this story.
(China Daily USA 01/16/2015 page19)