What's next for the personal care industry in 2023? Catch these 4 trends!

In the whole year of 2022, the market size of Tiktok platform personal protection category exceeded 29.5 billion yuan, an increase of 136%. This phenomenon shows that under the promotion of the epidemic, consumers have increased their awareness of personal care, and more and more consumers have begun to improve themselves in fine fields such as body care and oral care. Consumption drives production, which promotes the upgrading and sales growth of the personal care market.

In 2022, under the influence of external factors such as the repeated epidemic and the gradual improvement of industry regulations, some protection brands have been continuously reshuffled, and the epidemic has accelerated the "clearing" of vulnerable enterprises in the industry to some extent.

In 2023, the release of the epidemic has gradually restored the confidence of businesses, and how can personal care enterprises seize the development opportunity?

Based on the trends of some listed companies and investment institutions, the personal care industry will have the following four trends in 2023:

First, fight scientific research, reduce costs

Most of the raw materials of personal care products in our country come from imports, affected by logistics and policy and other factors, raw material prices rise. Therefore, individual care leading enterprises will target raw material alternative technologies to reduce costs and increase efficiency.

Second, pay attention to user experience

With the growth of China's per capita GDP, people are paying more attention to personalized consumption after meeting basic needs. The brand should also upgrade and refine to a higher level, on the basis of meeting the efficacy required by consumers, it is also necessary to provide a comprehensive user experience of design, packaging, odor, skin sense, brand culture and other factors, in order to obtain consumer attention in differentiation, and then occupy market share.

Three, a two-pronged approach is the hard truth

Although the foundation of traditional e-commerce such as Taobao and Jingdong is still in place, it still suffers from growth bottlenecks under the rise of new channels such as Tiktok. Traditional e-commerce is to buy on demand, need to buy, and new channels such as Tiktok is interested in e-commerce, consumers watch live or grass videos, visually arouse interest to stimulate the desire to buy, because they like and are interested in buying. Therefore, the integration of traditional e-commerce and interest e-commerce, while online and offline full channel open (brands and consumers are more and more attention to offline experience), in order to seize more consumer minds.

Fourth, explosive strategy is indispensable

Guohai Securities research report pointed out that creating a representative star single product or explosive product with brand mind can improve the re-purchase rate and enhance the brand "stickiness". Although this strategy is not a new play, but practical, is an important support for sales growth, is an important measure to increase brand awareness.

In 2023, the competition in the personal care industry will become more intense, with stronger scientific and technological strength, deeper into the upstream supply chain, and a more solid layout in the consumer side to break through.