当莱珀妮们不再甘当“贵妇品牌”

Core Viewpoint - Luxury skincare brands in China are undergoing a profound transformation to adapt to market growth constraints and changing consumer environments, focusing on technological investment, localized research, flexible product forms, and experiential communication to redefine their value in consumers' minds [2][14][40] Group 1: Market Dynamics - The high-end beauty market in China is experiencing a slowdown, with a compound annual growth rate (CAGR) decline of 3% from 2021 to 2024, leading to a market size reduction from 257.8 billion to 236.4 billion yuan, a loss of 21.4 billion yuan [15] - The luxury goods market is also facing challenges, with a projected sales decline of 18%-20% in 2024, returning to 2020 levels, indicating a shift from high-speed growth to a stable market [15] - Despite the overall market contraction, high-end beauty brands are maintaining low but stable share expansion, with brands like La Mer showing double-digit growth [17] Group 2: Product Innovation and Consumer Engagement - Sisley launched a new foundation in February that emphasizes a "makeup and skincare" trend, featuring a unique formula with three key benefits and a wide range of shades to cater to personalized consumer needs [4] - La Mer's new product launch in April focuses on oil control and anti-aging, targeting the growing oil skin care market in China, which is expected to exceed 50 billion yuan by 2025 [6][8] - La Prairie introduced a travel-sized version of its new caviar essence, reflecting a trend among luxury brands to lower the entry barrier for consumers and enhance product accessibility [11][12] Group 3: Consumer Behavior and Brand Strategy - The luxury beauty market is witnessing a shift towards "smart luxury," where consumers are more discerning and value-driven, leading to a decline in brand loyalty and impulsive purchases [19][20] - Brands are now required to emphasize scientific efficacy and product performance, moving away from traditional emotional marketing strategies [20][30] - High-end brands are increasingly focusing on localized research and product customization to meet the unique needs of Chinese consumers, such as addressing specific skin types and environmental factors [22][23] Group 4: Future Outlook - The transformation of luxury skincare brands is characterized by a balance between maintaining core brand values and embracing innovation, with a focus on technology, localization, and enhanced consumer experiences [39][40] - The future winners in the luxury beauty market will be those who can uphold the essence of luxury while understanding and responding to the evolving demands of Chinese consumers [40]