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China Professional Beauty Market 2007
Diagonal Reports, March 2007, Pages: 68
Size and Structure of the Chinese Beauty Service Business Market
Aesthetic - Beauty Salon - Institute - Day Spa
Growth and Opportunities in the Chinese Professional Beauty Market
The Chinese professional beauty market is the fastest growing professional beauty market globally. With annual sector revenues of RMB220 billion in 2006, it is also one of the largest markets in the world. The larger salons and spas, which are the best performing, report sales increases of up to 15% per annum.
It is a fast changing sector and market opportunities abound for cosmetic and personal care product formulators, beauty equipment suppliers and service providers. Much of the spa market in Shanghai, Beijing, Guangzhou and other affluent coastal cities is similar to its counterpart in the US or Europe in terms of prices paid for haircare and facial treatments, companies and brands used and quality standards.
A rapid growth rate means a high percentage of salons and spas are new businesses. With millions of new consumers for appearance enhancement treatments, the salon and spa sector in China is organising itself to meet new clients' requirements and to build consumer loyalty. In comparison with other longer established markets in Europe or the US, there can be a lack of demarcation between the different providers of hair and skin care, aesthetic medicine and wellness services in Chinese cities. For example, weight loss, body contouring and skin whitening treatments can be provided along with a facial or haircare treatments in the same salon or spa while foot care services are provided in some fitness clubs.
The professional beauty channel in China includes many types of businesses, private - or membership based - beauty and hair salons and spas, beauty clinics located in hospitals and health centres, medspas, fitness and beauty clubs, nail, massage and tanning salons, dental spas, beauty counters, express beauty bars, beauty leisure centers and aromatherapy clinics.
The current and potential value of the Chinese hair and beauty market has generated much discussion and literature including commentary and conflict. The author consulted Chinese salon and spa experts for their assessment of the market. This new report - China Professional Beauty Market 2007 - describes the organisation of the sector so that companies can navigate this market more safely.
The sheer size of the Chinese professional hair and skincare market tends to blur the vision and, in the rush to take advantage of these opportunities, some pitfalls can be overlooked. It can be very difficult for companies to co-relate their business with the actual structure of the Chinese cosmetic and personal care market, to identify the types of beauty service providers and potential partners. Given the dimension of this market, it also takes time to meet with the salon, spa and clinic with actual purchasing power. This report profiles the largest Chinese salon and spa franchise chains with approximately 12,000 units and millions of members throughout the country.
The sector is highly fragmented with more than 1 million salons, spas and clubs providing beauty and hair care treatments and services. While estimates of the actual number of salons vary quite widely, it is clear that salon and spa franchises account for most sales while hundreds of thousands of salons and spas share out the remainder.
Methodology
In-depth interviews carried out with professional beauty market experts in China
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