shanghai
Chinese, English
Chloe is a Research Analyst based in Shanghai. She has a comprehensive understanding of the Chinese market in beauty and fashion. Equipped with solid skills and client-facing experience, she has also accumulated strong regional knowledge covering these industries.
Chloe’s key responsibilities include primary and secondary research, market sizing, data manipulation, competitor analysis and project management. Chloe holds a bachelor’s degree in Economics from Zhejiang University and a master’s degree in Engineering from Columbia University. Prior to Euromonitor, she worked as a consultant in New York and Shanghai.
As scrutiny intensifies on corporate sustainability communication, this is the first of a new series of articles highlighting key insights from Euromonitor’s Sustainability platform. The Beauty and Personal Care industry is experiencing a sustainability-led growth, with sustainable products seeing a 10% CAGR from 2020 to 2023. Utilising data from the AI-based Passport Sustainability platform, Euromonitor underscores the need for companies to adopt transparent sustainability practices. This key move not only helps manage risks and comply with regulation, but also harnesses the increasing consumer preference for sustainable products.
Buoyed by rising disposable incomes and discretionary spending approaching the levels similar to those enjoyed by their Western counterparts, Eastern European consumers drove steady growth in the beauty and personal care industry over the last few years. The pandemic, geopolitical shocks such as the war in Ukraine and the consequent inflation surge – none of them managed to derail continuous expansion of sales. Even the exorbitant price increases did not stop consumers moving towards more sophisticated products rather than trading down or reducing usage occasions.
The beauty and personal care industry outperformed expectations for 2023, driven by both mass and premium segments, steady growth in key beauty-centric categories, premiumisation in personal care categories, and growing consumer confidence. Euromonitor International takes a deeper look at four key trends that are adding value for consumers and impacting beauty consumption.