Retail sales of cosmetics in China by month 2023-2024
In October 2024, cosmetics retail sales in China amounted to around 47 billion yuan. The highest retail sales value of cosmetics in China was often recorded in January/February, June, and November, when the shopping festivals took place.
Cosmetics retail development
In the last decade, the cosmetics market in China has been developing rapidly. In 2023, the retail sales value of cosmetic products reached 414 billion yuan. As the demand for cosmetic products expands further in second-and third-tier cities of China, cosmetics retail is expected to maintain its growth momentum in the near future. In addition, the changing attitude among men towards skin-care fosters the booming of the men's cosmetics market in China. Generation Z was the main consumption force of men's makeup products.
Brands and sales channels
Foreign cosmetics brands play an important role in China’s cosmetics market, with 13 out of the 20 leading beauty and cosmetic product brands in China being foreign-funded. L’Oréal Paris, the world’s largest cosmetics brand, still holds the largest share in China’s overall cosmetics market as well as color cosmetic product market. However, with the popularity of China-chic, national cosmetic brands have gained traction recently. In 2023, domestic brands contributed over half of the retail sales of cosmetic products in China.
Among the main distribution channels for cosmetic retail in China, online retail has been expanding significantly over recent years, while traditional retail channels such as hypermarkets and department stores were losing ground.