China: cosmetics retail sales by month 2024

In August 2024, cosmetics retail sales in China amounted to around 32 billion yuan. The highest retail sales value of cosmetics in China was often recorded in January/February, June, and November, when the shopping festivals took place.

Cosmetics retail development

In the last decade, the cosmetics market in China has been developing rapidly. In 2023, the retail sales value of cosmetic products reached 414 billion yuan. As the demand for cosmetic products expands further in second-and third-tier cities of China, cosmetics retail is expected to maintain its growth momentum in the near future. In addition, the changing attitude among men towards skin-care fosters the booming of the men's cosmetics market in China. Generation Z was the main consumption force of men's makeup products.

Brands and sales channels

Foreign cosmetics brands play an important role in China’s cosmetics market, with 13 out of the 20 leading beauty and cosmetic product brands in China being foreign-funded. L’Oréal Paris, the world’s largest cosmetics brand, still holds the largest share in China’s overall cosmetics market as well as color cosmetic product market. However, with the popularity of China-chic, national cosmetic brands have gained traction recently. In 2023, domestic brands contributed over half of the retail sales of cosmetic products in China.

Among the main distribution channels for cosmetic retail in China, online retail has been expanding significantly over recent years, while traditional retail channels such as hypermarkets and department stores were losing ground.

Retail trade revenue of cosmetics in China from August 2023 to August 2024 (in billion yuan)

Characteristic	Revenue in billion yuan
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Release date

October 2024

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Region

China

Survey time period

August 2023 to August 2024

Supplementary notes

According to the source, figures for January and February have been grouped together to curb the influence of the Chinese New Year on the statistics. Chinese New Year falls between January and February.

One yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of October 2024).

According to the source, retail sales refer to the trade revenue of tangible goods not intended for business use traded from wholesale and retail companies to individuals or non producing social organizations. Figures include total revenues of the food and beverage service industry.
During the survey, only wholesale companies with an annual revenue of 20 million yuan and above as well as retail companies with an annual revenue of five million yuan were questioned.

The source does not provide a release date. Therefore, the release date here is the date of data access.

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