Premium Beauty and Personal Care in Hong Kong, China

PROSPECTS

Sales strongly recover due to return of mainland Chinese tourists

In 2017, Hong Kong witnessed the return of mainland Chinese tourists. According to Hong Kong Tourism Board’s 2017 statistics, inbound arrivals from mainland China increased by 3.

Premium products dominate value sales over mass products

Affordable premium products – priced at USD30-40 for a facial moisturiser from Korean brands such as Laneige and dermacosmetics brands such as La Roche-Posay – fulfil middle-class consumers’ desire for luxury experience, contributing to premium products’ steady dominance in value sales over mass products. Longer careers for women in the workforce and stronger pursuit of professional success have given women in Hong Kong greater spending power and freedom to purchase premium products.

Colour cosmetics grows fast due to “value for money” luxury experience

The global colour cosmetics boom driven by Instagram selfies and YouTube tutorials is encouraging consumers to try out more impressive, dramatic make-up such as seamless coverage, vivid colour shades and contouring. Such trends are reflected in colour cosmetics sales in Hong Kong, notably in BB/CC creams, make-up primers, foundation/concealer, lipsticks, lip tints and even lip plump, as well as blushers and bronzers.

COMPETITIVE LANDSCAPE

L’Oréal HK Ltd and Estée Lauder HK Ltd sales leap with strong premium portfolios

Global beauty giants’ strong sales and brand trust in mainland China translates to their performance in Hong Kong as well. L’Oréal HK Ltd and Estée Lauder HK Ltd registered strong double-digit growth in 2017 and outperformed overall Hong Kong beauty sales, with the recovery in mainland tourist inflows.

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