Chinas Beauty Market Slows Amid Economic Challenges and Increased Competition

China`s beauty market is experiencing difficulties due to a weaker economy and changing consumer behavior. Sales growth has slowed significantly, leading major international beauty companies to discontinue some brands in China. Experts predict slower future growth for the industry, similar to mature markets. The market is becoming more fragmented with the rise of new brands and the shift to online retail, particularly to platforms like Douyin (TikTok). This presents challenges for established brands, requiring them to adapt quickly to new platforms and digital trends to remain competitive.