CosmoBiz Magazine September 2014 - Page 89

improvement. Chinese consumers, with their increase in household income, have felt the desire to achieve beautiful and younger looking skin. They spend money on skin care products from other countries rather than local. Because of this, China has become one of the largest world markets for imported luxury skin care products. Male consumers have also embraced gender-specific personal care products, to improve personal appearance. Chinese parents are spending on age-specific products, giving their children the kind of products that they need. areas on their heads that lack hair. Dominating the world with K-Pop, Korea has culturally influenced most of Asia with their bold and aggressive taste in fashion and style. K-Pop superstars have bedazzled the world with their boldness and flawless beauty; everyone wanted to be like them. Because of their flawless white skin, demand in whitening and anti-aging products, especially in Southeast Asia increased. Whitening products in the form of soaps and creams, from countless brands can be found on the shelves of retail stores and outlets. In the wig industry, top hair pieces are popular in Korea, because they add more volume to the hair, and allow the user to add more style to their look. Colored top pieces add color and highlights to their hair, giving them an even bolder, more aggressive look. Overtaking the United States, China has become the world’s largest economy, and according to Euromonitor International, the world of beauty took a big part on this Fusion hair extensions are also popular in China, because they are adept at adding more volume and style to the user’s hair. Medical wigs and hairpieces that are made specifically for cancer patients are also in demand. The brand, Rebecca Wigs, has opened luxury wig shops in numerous shopping malls, selling both fashion and medical wigs. They come with a high price tag, around $800 for human hair wigs, however, their sales are showing strong growth for wig and hair extensions. China’s wig and extension market is estimated to be worth about $280 million, which is small compared to the size of their population, but it still has room to grow. Consumers from the Philippines and Indonesia want to become more confident in who they are fashionably, rather than humble and conservative as they were before. Daring to look more different than modest, Filipino consumers take to hair coloring and bleaching, perming, and keratine treatments. Slowly, Filipinos are embracing bold hairstyles and hair color to achieve certain looks and trends. Though cosmetology schools are lacking, Manila will soon be expanding and hopefully, Cebu, the second largest city in the Philippines, will engage in this as well. As for Indonesia, cosmetic products are popular among teens with mass media as their source on influence. Most brands have more specific products that address certain skin or hair problems, such as Anti-dandruff shampoos. Organic products are more popular in Malaysia. Consumers are well aware of the dangers that chemical ingredients can do to their health and environment. They demand more organic-based products than chemical-based. Premium hair care products are frequently seen on the shelves of retail outlets such as Watsons. According to Euromonitor International, their higher disposable incomes led them to be more confident in spending on beauty products, especially products with sophisticated features. Vietnam will soon be a good potential market for the beauty industry. Cosmetic brands may only satisfy a cheaper market segment, but teenage consumers seek affordable, yet good quality products. Foreign brands are more popular among young consumers, which have now well established in Vietnam. 89