“It will have a huge effect. Indie brands are so much in demand in China now,” said Mette Knudsen, chief executive officer and partner at foreign investment consulting firm Knudsen & CRC, based in Shanghai.
Especially during the coronavirus pandemic, when travel was limited or stopped, e-commerce — including cross-boarder commerce — has been booming in China. Online sales today generate more than 40 percent of overall beauty revenues in the country. Cruelty-free and vegan brands should strike a chord, particularly as the craze for pets rises in China.
“I think it’s still premature to assume that the concern around cruelty-free can naturally and consciously drive mass shopper behaviors in a short time,” said Amie Wang, a director at the consultancy WE Red Bridge. “But [as] we saw the pet ownership rising with the youth, I think consumers will change their perspective, which will help the cruelty-free brands’ boom.”
GED works with cruelty-free U.S. brands RéVive Skincare and, more recently, Clark’s Botanicals — which is currently sold on TaoBao and will be launching on Tmall on Feb. 1. What sets these U.S. brands apart is the quality of their products, which have been tested by GED, said Benoist, adding both RéVive and Clark’s Botanicals focus on clinically proven, result-driven formulas.
“The Chinese consumer does not just buy on impulse — most of them research about the brand’s values and ingredients, what’s good for them and harmful,” said Knudsen. “The brands that understand this type of consumer will definitely be successful in China.”“Our recommendation is that brands start to prepare [to enter the market],” said Knudsen, ticking off elements such as documents for product ingredients and raw materials.
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