国泰海通 · 晨报0917｜化妆品

Core Viewpoint - The beauty industry is experiencing double-digit growth online, driven by promotional events and the rise of domestic brands, suggesting a need for selective investment in companies with adaptable products and channels [2]. Industry Summary - In August, both Tmall and Douyin achieved double-digit growth in beauty sales, with a combined year-on-year increase of 19.0%. Douyin's beauty GMV exceeded 20 billion, growing by 19.56%, while Tmall's GMV rose by 18.37%. The overall GMV growth rate for July and August was 16.1%, indicating a recovery primarily due to Tmall's promotional strategies [2]. - During the Qixi Festival, domestic brands dominated the top sales rankings, with Han Shu leading with over 700 million GMV. The top 20 makeup brands saw an increase of 4 new entrants, including Mao Ge Ping and Carzi Lan, showcasing the competitive strength of domestic brands across various categories [3].