On December 14, 2022, Yingtong Group and Kantar China jointly held the online press conference of “Leading the Tide · Creating Change” — 2022 Chinese Perfume Industry Research White Paper (hereinafter referred to as White Paper 3.0) in Shanghai. The White Paper 3.0 on Chinese perfume industry released this time is a comprehensive and in-depth review jointly conducted by Yingtong and Kantar by combining the latest industry data and consumer research data, and it is the first time for Yingtong to cooperate with domestic and foreign experts. Mr. Jean-Claude Ellena, Mr. Johanna Monange, Founder of Maison 21G, Ms. Sarah Rotheram, CEO of Creed, Mr. Raymond, Founder of DOCUMENTS, Santa Maria Mr. Gian Luca Perris, CEO of Novella, Mr. CAI Fuling, Vice President of Asia Pacific of Lagardere Group, and others all participated in the interview during the writing of White Paper 3.0, so that the new White paper 3.0 can focus on the Chinese perfume market from a more objective and comprehensive perspective. In-depth analysis of the internal and external motivations and demand changes of Chinese consumers for perfume consumption, insight into the development trend and future direction of the industry, in order to provide a valuable reference for the industry to explore the new trend of olfactory economy. The event also attracted fragrance industry leaders, business partners, mainstream media and industry followers to meet online and participate in the event.
Big names gathered, all-round depth of interpretation
At the conference site, Ms. Lin Jing, senior Vice president of Yingtong Group, delivered an opening speech, in-depth analysis of the current global perfume market facing the impact of the epidemic and management problems. Ms. Lin Jing said that under the current environment, the global supply chain is facing a very severe test. Although a certain degree of economic downturn has caused a certain impact on the cosmetics and perfume market, compared with the 50% penetration rate of cosmetics, the current penetration rate of perfume products in the Chinese market is only 10%. Therefore, I believe that perfume products still have enough space and huge market potential in China, and I hope to resonate with more partners in the perfume industry in the futur
(Lin Jing, Senior Vice President of Yingtong Group)
Then Mr. Li Xiaojie, Senior research Director of Innovation & Customer Experience business of Kantan China, and Ms. Wang Wei, Chief Operating Officer of Yingtong Group, made a detailed joint interpretation of the contents of White Paper 3.0
Starting from the consumer end, Mr. Li Xiaojie deeply interpreted the changes and trends of China’s perfume industry and delivered a keynote speech titled “The Evolution of Chinese Perfume Consumers in 2022″ : In the context of the volatility, uncertainty, complexity and ambiguity of the macro environment, the life and consumption of the public are also constantly affected, but compared with the global market, Chinese consumers still express better expectations for the future economic outlook. Chinese consumers’ lifestyles, consumption patterns and even their expectations for products have also changed. Consumers pursue more meaningful uniqueness in their hearts and hope to show their tastes in subtle and subtle ways. There are also new changes in consumers’ incense use behavior, which are mainly reflected in five aspects: incense users, emotional value, preference for “pure aesthetics”, emotional value and omnichannel information contact points.
(Li Xiaojie, Senior Research Director, Innovation & Customer Experience Business, Kantar China)
Post time: Dec-10-2022