CHINA ‘GUOCHAO’ NATIONALISTIC DESIGN IS STRENGTHENING DOMESTIC PERSONAL CARE PRODUCT MANUFACTURERS’ MARKET POSITION
June 1st, 2021
For evidence that China’s nationalistic ‘guochao’ consumer trend is gathering pace in the personal care product sector, look at the country’s powerful e-commerce sector. In February 2021, the turnover of cosmetics on China’s Taobao platform was Chinese Yuan Renminbi CNY14.7 billion (USD2.3 billion), a year-on-year increase of 11%, with the top brand in sales being the guochao-oriented personal care product brand Hangzhou-based Florasis Hua Xizi. It had a Taobao turnover of CNY276 million, booking a year-on-year increase of 103.5%. Florasis Hua Xizi’s ...
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