China Social Livestream Helping Beauty e-Commerce Grow Fast
China’s Livestream is still the main growth point of the Internet market.
In 2019, the growth rate of China’s Internet users has slowed down, but market dividends are still there. Users are increasingly dependent on the mobile Internet, and the time spent on consumption increases.
China beauty businesses are currently looking for the best innovative marketing solutions to cater to the fast growth of e-commerce.
In the latest report of Top 10 Beauty Makeup 2019 Q1 performance, Kao, Unilever, Estee Lauder, etc. almost achieved double growth in revenue and profit. The secret of this growth lies in the Chinese market and e-commerce. Data released by Tmall not long ago showed that its beauty growth rate exceeded 60% in 2018, and more than 300 million consumers purchased cosmetics on Tmall.
Consumers, growth points, enthusiasm and bonus points of beauty and electronics companies have been and are undergoing profound changes. Traditional marketing theories and practices can no longer meet the needs of current beauty consumers and market competition. With great market potential, high competition, and a large number of consumers and markets, in this market environment, how to find breakthroughs in beauty and electronics companies has become a major challenge.
Consumer socialization is the general trend. Almost every marketer is concerned about short-video social marketing, social e-commerce, offline integration, and more.
According to the sales data of Tmall and Fast Hand, at present, while the overall consumption of beauty consumption is increasing at the same time, it also shows the youthfulness of the consumer groups, and the male consumers have increased significantly. Post-95 became the absolute main consumer group. They are highly dependent on social networks. In addition, sales in the third- and fourth-tier cities are more than sales in first- and second-tier cities.
Consumer groups are gradually becoming more socialized, and they are more convinced of the recommendations of some stars, beauty artists, and KOL. According to statistics, star KOL and beauty KOL have a decision-making influence of over 80% for consumers under 30 years old. At present, China’s Internet economy is about 8 trillion yuan, while the net red economy has reached 2 trillion, accounting for about 25%.
In 2018, short video applications accounted for 8.8% of total user usage, which is three times faster than other applications. 62% of advertisers have increased their marketing budgets in short video and live broadcasts. Short video marketing and KOL marketing have become the main front of social marketing and a hot spot in the future.
In the era of social e-commerce, the core thing is the transmission of word-of-mouth between people. The attributes of the beauty industry and social e-commerce are very compatible. At present, there are many similar KOLs on the social e-commerce platform of beauty and e-commerce. They are using their own way to radiate the small circles around them. The real content they produce also makes their communication more influential.
In the past year or two, the Livestream social trends in the beauty industry will only increase. For beauty companies, the secret of marketing is how to find the intersection of the beauty industry and short video social, to seize the dividend through social e-commerce marketing.
The most typical of this intersection is the fast hand. After 80% of the fast-acting users are 90, the proportion of the post-95 population is over 62.5%, and the gender ratio is balanced. It is highly coincident with the latest user base of beauty users.
The beauty industry maintains rapid and healthy development in the Chinese social environment.