The Nielsen Cosmetic Panel tracked the local cosmetic and skincare consumption size and behavior of the Hong Kong female population aged 18-55. Shopping in Hong Kong is an art form, with 90% of Hong Kong women purchasing skin care and cosmetics, but ten percent of beauty purchases from Hong Kong women happen abroad. This is a reminder of how important it is to control pricing of your brand globally.
The numbers from the Nielsen report:
- 96% of Hong Kong female consumers purchase skincare or cosmetic products with average spending of HK$4,021 per year.
- Penetration on skincare products (93%) is higher than that of cosmetic products (81%).
- Women aged 25-34 make the most trips to buy skincare or cosmetic products, averaging 11.0 trips per year, followed by those aged 18-24 who make 10.7 trips per year.
- The biggest spenders are women aged 35-44 spending approximating HK$5,000 in the past year, followed by those aged 25-34, who spent about HK$4,700 in the past year.
- 4 in 10 dollars spent on skincare and cosmetic products is done in brand stores.
- Overseas purchasing accounts for more than 10% of their spending.
- 18% of consumers account for approximately 40% of overall spending in the category.
- Lipstick is the most purchased item, but perfume is the category where consumers spent the most.
- In the skincare category, moisturizer is the most frequently purchased item while face mask is the highest spending category with serums coming in second due to the high price point.
Read the full report on Nielsen.
Photo: Joseph Chan via Unsplash.