A Tough Year for Cosmetics Retail Sales

It is worth noting that the retail sales of cosmetics have underperformed the overall market for three consecutive years.

Qingyan compared the growth rates of total retail sales of consumer goods and cosmetics retail sales over the past decade and found that from 2022 to 2024, the growth rate of cosmetics retail sales has continuously lagged behind that of the total retail sales of consumer goods.

In contrast, from 2017 to 2021, the growth rate of cosmetics retail sales had always been higher than that of the total retail sales of consumer goods.

Despite differences in data collection methods, the fact that the cosmetics market performed pessimistically over the past year is undeniable.

According to data from Qingyan Intelligence, the Chinese cosmetics market size in 2024 was 774.645 billion yuan, with a year-on-year decline of 2.83%.

Among them, the online channel's cosmetics sales amounted to 405.527 billion yuan, with a year-on-year increase of 0.4%; the offline channel's sales reached 369.117 billion yuan, with a year-on-year decrease of 6.1%.

It is noteworthy that, although the growth rate of the online channel has slowed, its market share continues to expand, increasing by 1.66% compared to 2023.