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On April 15-19, the 121st China Import and Export Fair (referred to as the "Canton Fair"), which lasted for five days, was grandly held at the Pazhou International Convention and Exhibition Center in Guangzhou. The Spring River Water Warm Duck Prophet, known as the "wind vane of Chinese enterprise market development and economic trends" at the Canton Fair, is a glimpse of any latest industry trends here.
The reporter found that in recent years, the Japanese exhibition halls in the international exhibition area of the Canton Fair have occupied a considerable booth area with household beauty equipment, complete product functions, and attracted widespread attention from exhibitors. The reporter also noticed that some home beauty equipment brands such as nanoTime Beauty, Hirose, Gaura, etc. appeared again at this year's Canton Fair. This time, they have brought portable skin rejuvenation devices, intelligent skin rejuvenation devices, water and antioxidant devices, micro current beauty devices, nano hydration devices and other technological beauty products, showcasing the latest achievements in intelligent technology, beauty technology, and home beauty care. The beautiful and exquisite beauty instrument products quickly captured the "hearts" of on-site merchants and consumers, causing a warm response.
The trend of the home beauty market can be seen from the popularity of the NanoTime Beauty booth at the Canton Fair. The person in charge of the nanoTime Beauty exhibition told reporters that in the future, more and more people will purchase various intelligent, multifunctional, and all-in-one home beauty products to use with skincare products, forming a new home care habit. Home beauty equipment will become a new direction and trend in the future development of China's beauty market.
The home beauty market is booming, with Japanese brands leading the trend
According to data, the Chinese beauty market exceeded 500 billion yuan last year, ranking third in the world. The annual growth rate of the beauty industry is over 35%, far exceeding the national average GDP growth rate. The "China Beauty Economy Annual Report" released in July last year believes that the "beauty economy" has become a major investment hotspot after real estate, automobiles, tourism, and sports.
With the development of technology, the "beauty economy" has moved from traditional manual skincare to the high-speed road of technological skincare. It is understood that technology beauty and instrument beauty projects have accounted for over 80% of the share in foreign beauty salons. Looking at the trends in China, many cutting-edge trend groups have also purchased various home beauty products from Japan and South Korea through purchasing agents, cross-border e-commerce, and other means in recent years, forming a new and large-scale beauty home appliance market segment. The younger generation of consumers are more willing to use home beauty equipment for DIY beauty. This can save a lot of service fees and reduce time costs, making it convenient to use and easy to carry. Therefore, more and more consumers are starting to purchase exquisite home beauty products and buy them one by one. It can be foreseen that the development of the home beauty instrument market has formed a trend and is gradually heating up and entering a rapid development stage.
At present, the domestic high-end home beauty market is mainly occupied by Japanese and Korean brands. Japan's beauty and skincare industry has always been leading the world in terms of technical experience, theoretical innovation, and equipment, occupying half of the global beauty instrument market.
Taking the aforementioned nanoTime Beauty as an example, it was born in Yokohama, Japan in 2004. It is a home beauty instrument brand under Time Lab, a Japanese company, focusing on technological innovation in personal beauty care instruments, integrating research and development, production, and brand operation. In the local market of Japan, products such as nanoTime Beauty's depiTime hair removal device and nanoTime hydration device have been advertised and sold on TV shopping channels, and have achieved sales of thousands of units in 50 minutes. Meanwhile, nanoTime Beauty is also popular in the Southeast Asian market. In recent years, nanoTime Beauty has begun to enter the Chinese market, launching a series of products such as nanoMix revitalizer, nanoSkin rejuvenation device, Aqua Perfect toner device, etc., which has refreshed people's understanding of personal beauty care products, sparked media attention and industry discussion.
Under the wave of consumer upgrading, home beauty devices are moving towards "intelligence"
In recent years, it has become a "phenomenon level" event in China for domestic consumers to crazily purchase toilet covers and rice cookers in Japan, indicating that Chinese consumers are in a period of consumption upgrading. Consumer upgrading means that consumers will pay more attention to issues such as intelligent living, improved product quality, energy conservation, environmental protection, and design aesthetics brought about by technological innovation.
Consumer upgrading also brings new challenges and opportunities to the beauty industry. In April 2017, the "Quality Consumption Index Report" released by Alibaba Research Institute showed that in 2016, electronic beauty devices grew by 85%.
On the one hand, beauty equipment brands and products are constantly changing in response to demand. In terms of categories, products such as facial cleansers, hair curlers, beauty machines, face steamers, hair removers, and electric eyelashes are dazzling; In terms of brands, in addition to traditional household appliance brands such as Philips and Panasonic, Japan's nanoTime Beauty, Yaman, MTG, and Shino Doctor are also quite famous. In Europe and America, there are also emerging brands such as Tripolar and Corelli. In China, emerging brands such as Jindao, Jiaoyuan, and Danlong have also emerged. The number of beauty equipment products and manufacturers has increased significantly, and the brands and products on various e-commerce platforms are mixed, especially some mid to low end brands and products have a homogenization trend, with similar functions. How to improve product experience is a concern for the beauty instrument industry.
On the other hand, traditional home beauty care equipment is a derivative product of medical and professional beauty institutions, which requires a certain level of professional knowledge and operating skills when used. However, modern people's consumption habits are more inclined towards intelligent products with simple operations and do not like to read instructions. If the product operation is complex and difficult to understand, it is considered ineffective and discarded. Therefore, the beauty instrument market urgently needs new technologies or models to lead the industry towards new trends and high development. The person in charge of the Namis exhibition told reporters that the miniaturization, intelligence, and versatility of home beauty devices are the future development trend, and using artificial intelligence and data analysis to customize personalized home beauty solutions for customers will become inevitable.
NanoTime Beauty has already been at the forefront of the industry in the field of intelligent home beauty devices. The year before last, it proposed the concept of "intelligent hardware+APP+cloud services: intelligent home beauty care experts under big data". The person in charge stated that based on technologies such as RF radio frequency beauty, photon hair removal, photon beauty and rejuvenation, ion export and import, acoustic/ultrasonic beauty, and micro current beauty, the concept of intelligent industry and software and hardware are introduced. Through the intelligent functions and multi-dimensional sensors of the product, beauty related data such as user environment and skin are collected, and uploaded to the beauty service cloud platform through the beauty butler app and the internet, The cloud platform and operation center provide users with relatively professional beauty suggestions based on software analysis results and expert evaluations. Through intelligent push services, targeted recommendations are sent to corresponding users to guide them in better using products, daily care/professional care, etc., allowing users to obtain more cost-effective value-added services and follow-up services.
The intelligent home beauty instrument combines intelligent hardware and follow-up services to bring a brand new user experience, truly achieving the goal of enjoying exquisite and professional beauty and skincare experience without leaving home, and achieving the effect of truly moving the beauty salon home. It can be said that this Canton Fair not only revealed the business opportunities of the new segmented market of home beauty equipment, but also showcased new development trends in the industry, which relevant personnel can pay attention to.