Platform performance, the head of the tiktok platform brand is strong, and the domestic brand of jitter platform accelerates market share. In terms of new products, domestic skin care brands accelerated the promotion of new products in March, which is expected to drive sales growth.
Key points
Amoy platform: in March, the sales growth of skin care products showed that the strong was always strong and Proya Cosmetics Co.Ltd(603605) took the lead. By brand, Proya Cosmetics Co.Ltd(603605) , mystery of sea blue, Winona, xiulike, lifuquan, Zhiben, Dr. Yuer and Cuddy increased compared with the same period last year. Among the national brands, Proya Cosmetics Co.Ltd(603605) , kwadi and Winona ranked among the top three in March, with a year-on-year increase of 133.7% / 108.8% / 75.5% respectively. The two domestic brands Proya Cosmetics Co.Ltd(603605) , kwadi increased by more than 100% year-on-year, showing a strong growth trend. Skin care products, the essence of products in March is still in a hot state. According to the sales ranking of Amoy platform of beauty and skin care brands in March 2022, international brands are still in a dominant position, accounting for 80%, and Estee Lauder, Lancome and L'Oreal are in the top three. Domestic brands Proya Cosmetics Co.Ltd(603605) and Winona ranked 5th and 10th respectively.
Shaking platform: skin care products, domestic brands occupy the tiktok seats, Proya Cosmetics Co.Ltd(603605) strong lead. In March 2022 tiktok ranked 10 in the top 4 sales, while overseas brands occupied only 4 seats. Compared to 1+2 months (overseas brands occupy 7 seats), domestic brands tiktok the market share of skin care products, Proya Cosmetics Co.Ltd(603605) rose from sixth to second, and muscle prophet brand occupied third of 107 million sales. In terms of color make-up, domestic brands sell better than overseas brands in tiktok platforms. In March 2022, the top 10 brands of tiktok sales ranked the top, and the total sales volume exceeded 200 million yuan. Among them, Hua Xizi leads the jitter platform color cosmetics brand, with monthly sales volume of 84 million yuan, far exceeding second tiktok Bai Ruimei, and has a prominent position.
Investment advice
The prosperity of China's cosmetics market continues to rise, with high online growth and diversified operation, which is good for domestic brands. The terminal demand of China's cosmetics market continues to rise, leading the world in scale growth in recent five years. At the same time, the brand competition intensifies, and the online channel sales grow rapidly. The change of channels is conducive to the rapid expansion of the market for domestic brands. Brands that can accurately grasp the needs of consumers and enhance the brand effect driven by diversified marketing are expected to continue to expand the market. Recommendation: the track leader of Dermatology grade skin care products with product differentiation Yunnan Botanee Bio-Technology Group Co.Ltd(300957) (its brand Winona); Proya Cosmetics Co.Ltd(603605) , which focuses on the strategy of large single products and continuously expands the series of large single products; Self owned brands and brand agents operate two wheel drive. At present, Syoung Group Co.Ltd(300740) (its brands include yunifang) is showing an upward turning point. It is suggested to pay attention to: the layout of the whole industry chain and the Bloomage Biotechnology Corporation Limited(688363) , Lushang Health Industry Development Co.Ltd(600223) , multi brand matrix; Multi brand strategic layout and continuous operation improvement Shanghai Jahwa United Co.Ltd(600315) (its brands Yuze and baicaoji).
In the rapid expansion of the medical and American market, the policy is stricter, which is conducive to the domestic leaders. China's medical and American market is in the stage of rapid increase in penetration, and the terminal demand is relatively strong. At the same time, with the continuous improvement of R & D and technology of Chinese enterprises, domestic brands continue to expand the Chinese market with higher cost performance. In the current situation of stricter policy supervision and severely cracking down on the non-compliance and illegal medical and American market, it is beneficial to China's leading enterprises. Recommendation: medical beauty leader with forward-looking differentiated product layout ability Imeik Technology Development Co.Ltd(300896) .
Major risks
The expansion of new products is less than expected; Industry competition intensifies; Policy risk; Product safety risk.
