中国香妆市场，到新的临界点了吗？

Core Viewpoint - The Chinese cosmetics industry is experiencing a significant transformation, with domestic brands gaining a dominant position in the market, marking a historic turning point as they enter a strategic window for building world-class brands [2][3]. Group 1: Industry Evolution - The retail total of the Chinese cosmetics market is projected to reach 1,073.8 billion by 2024, with domestic brands' market share increasing from 52% to 55% [2]. - The industry is shifting from a focus on speed to a focus on quality, emphasizing the importance of brand trust and cultural narratives to withstand economic fluctuations [2]. - The rise of domestic brands is attributed to a systematic evolution of the commercial ecosystem, supported by government policies and a focus on quality over speed [3]. Group 2: Supporting Pillars - Policy Pillar: The regulatory framework established by the national drug monitoring system has created a balance between safety and innovation, with over a million words of supporting regulations enhancing industry professionalism and competition barriers [4]. - Research Pillar: Companies are increasing R&D investments, with a significant number of global patent applications related to cosmetics being linked to the Chinese market [5][6]. - Consumer Pillar: The Chinese market remains the largest cosmetics consumer market globally, with changing consumer behaviors emphasizing quality and value, particularly among Gen Z and older consumers [8]. - Talent Pillar: Over 20 universities in China have established cosmetics-related programs, fostering a new generation of professionals to support industry growth [9]. - Cultural Pillar: The rise of "Guochao" (national trend) has led to the integration of Chinese cultural elements into brand narratives, enhancing consumer engagement and purchase intent [11]. Group 3: Brand Development Conference - The upcoming "China Cosmetics Brand Development Conference" aims to install three key engines for industry evolution and brand upgrading [17]. - First Engine: Establishing a value coordinate system through the release of authoritative rankings to redefine what constitutes a "good brand" [18]. - Second Engine: Addressing sustainable growth challenges by exploring how to reconstruct brand value and core competitiveness while avoiding internal competition traps [20][21][22]. - Third Engine: Publishing industry standards and models to create a collaborative ecosystem, addressing issues of data fragmentation and standardization [24][25]. Group 4: Future Outlook - The conference signifies a pivotal moment for the industry, aiming to reclaim global beauty discourse and redefine the standards of the cosmetics market [30]. - The integration of technology and culture is seen as essential for enhancing brand narratives and fostering innovation [31]. - The industry is transitioning from a phase of rapid market expansion to one focused on sustainable development, emphasizing the importance of quality, culture, and innovation [34][35].