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Top News about Cosmetics Market in China

Sheldon Cooper

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Cosmetics Market in China

Chinese women are spending more money on cosmetics and personal-care products, and the trend is not slowing down. China’s beauty market ranks second in terms of market share and sales. The cosmetics retail sales will reach 67 Billion USD by 2024.

How can Experts explain China’s cosmetics boom?

The Chinese middle class is growing and their desire to buy all kinds of consumer goods, especially beauty products.

Beauty products and total cosmetics are driven by the skincare segment. The skincare industry should generate 15 Billion USD by 2021.

China is one of the largest beauty markets in growth, and it is also one of the fastest growing.

As part of an investigation into pyramid selling, Chinese authorities have placed assets belonging to Zhang Ting (Taiwanese actress) and Kevin Lin Ruiyang ($94.15 Million) under lock and key.

Shanghai Dowell, the owner of Tin’Secret cosmetics brand, has been placed under house arrest by Chinese regulators explained a lawyer in Shanghai. JWassociates

The company is owned by Zhang Ting, a celebrity and her husband Kevin Lin Ruiyang. It is believed to have around 10 million agents in China. Nikkei Asia is keeping the details of the accusations against the company under wraps. It seems that these investigations usually focus on whether agents are paid more to recruit others or sell products.

Crackdown on Chinese Beauty KOL 

This move is part of a larger crackdown by Chinese authorities on influencers. Dowell stated in a statement that the company is operating ‘normally and has paid taxes according to law, per Nikkei Asia.

On Wednesday, the hashtag “Founder Lin Qingxuan accuses Chanel unfair competition” was a hot topic on Sina Weibo in China. Chanel’s new red camellia skin care line will launch that day.

Sun Laichun, the founder of Lin Qingxuan’s Chinese cosmetic brand, stated Monday via his Weibo account, that Chanel launched the red camellia range. He also stressed that Chanel had hired several Lin Qingxuan employees in 2021.

Legal battles in the Cosmetic industry in China

Lin Qingxuan’s official site reveals that the brand was founded in 2003 and has product lines that focus on the camellia ingredient.

Sun stated in his post Lin Qingxuan, a Chinese skincare expert, has been creating innovative products using red camellia ingredients from China for 12 year. He also mentioned that Chanel is most famous for its use of white camellia as the brand’s aesthetic symbol.

Chanel under pressure in China

Sun also pointed out that red camellia is mainly found in East China’s Jiangxi, Zhejiang, and Zhejiang regions. 90 percent of the species are Chinese while the remaining 10 percent can be found in Southeast Asia and Japan. Chanel doesn’t have the resources to launch skincare products containing red camellia, as this species is not common in Europe or America.

As of press time, Chanel had not yet responded to Sun’s comment. On Wednesday, the brand posted a video to its Weibo account, stating that it would soon unveil its new skincare line.

Lin Qingxuan’s annual “double eleven” shopping festival saw sales of more than $200 million yuan ($31.47million) in 2021, a rise of 143 percent over the previous year, domestic site chnfund.com reported. Source GTimes

On Wednesday, the hashtag “Founder Lin Qingxuan accuses Chanel unfair competition” was a hot topic on Sina Weibo in China. Chanel’s new red camellia skin care line will launch that day.

Sun Laichun, the founder of Lin Qingxuan’s Chinese cosmetic brand, stated Monday via his Weibo account, that Chanel launched the red camellia range. He also stressed that Chanel had hired several Lin Qingxuan employees in 2021.

Lin Qingxuan’s official site reveals that the brand was founded in 2003 and has product lines that focus on the camellia ingredient.

Sun stated in his post Lin Qingxuan, a Chinese skincare expert, has been creating innovative products using red camellia ingredients from China for 12 year. He also mentioned that Chanel is most famous for its use of white camellia as the brand’s aesthetic symbol.

Sun also pointed out that red camellia is primarily found in East China’s Jiangxi, Zhejiang, and Zhejiang regions. 90 percent of the species are Chinese while the remaining 10 percent can be found in Southeast Asia and Japan. Chanel doesn’t have the resources to launch skincare products containing red camellia, as this species is not common in Europe or America.

As of press time, Chanel had not yet responded to Sun’s comment. On Wednesday, the brand posted a video to its Weibo account, stating that it would soon unveil its new skincare line.

Lin Qingxuan’s annual “double eleven” shopping festival saw sales of more than $200 million yuan ($31.47million) in 2021, a rise of 143 percent over the previous year, domestic site chnfund.com reported.

Luxury Cosmetics in China are on the Rise

Social status is extremely important for Chinese consumers.

Chinese consumers are known to use luxury brands and expensive products to display their wealth. Chinese are the ” rich”. Chinese are the “new rich” and they prefer high-priced products because they can prove their success in their career and have more purchasing power. In other words, it is better to be higher. Source mkgChina

This strong desire for “cosmetics” is a boon to top beauty brands and luxury brands. Chinese consumers are more inclined to purchase makeup and skincare from luxury brands if it is expensive. Anti-aging products are a popular choice in China, especially for young women. Orchidee Imperiale is the most popular luxury cream by Guerlain. It’s a favorite among women aged between 50 and 80 in Europe and between 20 and 35 in China.

International Brand First

Many Chinese girls find foreign brands ” more appealing”. French brands are a popular choice because of their premium selection. This market segment is best captured by international branding.

French brands are innovative and high-end.

Japanese brands also have a strong image in this premium market

Korean and Asian brands have greater mass-market positioning, while US brands are more prominent.

France image is very attractive for female Chinese consumers explained the founder of th CBC

It is well-known that Chinese consumers are not loyal to any particular brand. Chinese consumers are open to trying different brands. They will stick with the brand they love once they have found it.

It means that although you may need to spend money in order to attract customers, once they are converted and happy with your product, , they will return.

Moreover, Chinese female consumers are extremely ” brand-conscious”. It means that they are more likely to buy from well-known brands because they believe they will get better quality for their money. Chinese consumers now place great importance on getting the best value for money and are always comparing brands. Consumers’ feedback can have a significant impact on their decisions.

The Chinese cosmetics market is a gold mine when it comes to beauty products. It’s the second biggest market in the world with €23 billion in size. It is also a competitive market. 

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Business

What is the importance of field marketing?

Sheldon Cooper

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How Your Business Can Be Helped With Funds from LAP

Businesses rely on marketing to increase their customer base and revenue. There are several marketing strategies, each with its own set of benefits. Professionals with extensive training in field marketing employ this strategy to increase a business’s exposure, strengthen connections with existing customers, and find new prospects. It’s a quantifiable procedure that often requires direct contact with prospects and clients. There are ways in which you may keep employing this strategy to propel sales.

Types Of Field Marketing

To accomplish their objectives, field marketers now have access to various campaign formats. Listed below are popular ways of field marketing that are frequently used:

  • The most prevalent kind is distributing samples of a product or allowing customers to try it out for themselves.
  • Direct Sales: Because only some product demonstrations result in completed purchases, field marketers must have an inventory of products ready for immediate sale.
  • Guerrilla Marketing: This allows for unconventional strategies by field marketers, such as selecting a non-traditional setting. It usually involves “feet on the street,” as well as lots of creative thinking and boundless enthusiasm.
  • Retail Audits: A field marketing team visits stores to collect data regarding signs, promotional materials, items, etc., to analyse the success of retailer partnerships.
  • Trade Shows: This enables firms to present their latest products and services to prospective clients.
  • Conferences: Providing a learning opportunity is an excellent approach to drawing in B2B attendees.
  • A VIP dinner is an example of a field marketing strategy that focuses on a personal connection. If you use a more personable approach, you can win over more prospects.

Brand Image Boosting

The way consumers evaluate your brand is crucial to your success. Your audience will be less likely to conduct business with you if they are unfamiliar with you or have an unfavourable impression of you. Therefore, if you send brand representatives to events, you may strengthen your reputation and win over the confidence of potential clients.

Convince a Sceptical Customer

What do you do if certain people don’t trust or enjoy your brand? It can affect sales, especially since nowadays, people listen to their friends and family more than they listen to a company’s marketing. Sending out field marketers to events where they can interact with potential customers face-to-face and provide information, freebies, and demos is one strategy for dealing with this problem.

Foster Connections with Clients

Field marketers can provide in-person services to customers whenever they are feasible. Potential customers will remember this and think of your company favourably in the future. Building relationships and trust via shared experiences is a powerful tool.

Engage Your Intended Market

Online and offline promotional efforts may help you get your name out there and attract more of your ideal customers. Neither can match marketing’s ability to target a specific demographic or subset of the population. Targeting individual customers during events (both online and offline) is possible. Digital marketing enables better audience targeting. However, it takes a lot of work to do this with traditional marketing channels like billboards and TV or radio commercials.

Provides Measurable ROI

Thanks to real-time data, ROI analysis for field marketing is much simpler. This may include the number of persons who expressed interest, took a flyer or catalogue, tried a sample, and made a purchase.

Save Money on Advertising

It is easy to adjust the size of your marketing budget as needed, making it a cost-effective option. Then, there are circumstances when you can partner with a performance-based model provided by a third-party store.

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Why Your Business Needs A Property Accountant

Sheldon Cooper

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Why Your Business Needs A Property Accountant

Running a real estate business is not a cakewalk. There are many aspects to take care of and several ways it can go wrong.

Property management needs special attention – something a reliable property accountant in Brisbane can handle. Why? Let’s take the 2023 Australian real estate market forecast for starters.

The upcoming year is expected to be one in which property prices drop significantly. As housing demand and supply increase, so will market competition. Without a proper accountant, you’ll find yourself walking in the dark. Keep reading to understand why your business needs a property accountant.

Expenditure Evaluation

You can only make positive changes by knowing exactly where your money goes. So cash outflow is a crucial aspect of property management.

However, it is also one area most prone to human errors. No matter how careful you are, it is challenging to go through each transaction and guarantee accuracy. Further, it is a time–consuming process.

A reliable property accountant in Brisbane will come to your rescue by analysing daily expenses and covering complicated areas such as insurance, taxes, utility bills, etc.

Business Debt Minimisation

Keeping debt at bay is what every good business strives to do. Debt threatens to shake the very foundations of an organisation. An experienced property accountant can intervene by helping you gain a fortune every time you invest in some property.

Estimating Real Estate Value

Property accounting also involves calculating financial indicators through which you can monitor and assess the progress of your business. However, analysing all the factors by yourself is a strenuous job.

Why strain yourself when you can easily relay this task to a skilled property accountant? While the accountant handles the analysis process, you get more time to focus on other essential aspects such as profits and losses, organisational cash flow, GP analysis, and more.

Plus, since the accountant follows strict professional accounting regulations, you will have accurate records for future reference if required.

Staying Up-to-Date with the Market

The only way to stay updated with property taxes is to practice meticulous book keeping. This enables you to prepare your property tax returns without any problems.

However, this task is challenging since tax requirements vary among properties. So, you hire a good property accountant! They will help you adhere to tax implications while keeping you updated on the best property options in the market.

Maximising Business Revenue

Every business owner wants to maximise their income while reducing expenses. One way to do so is to assess every transaction made with realtors, contractors, etc.

If those accounts are justified, you can move toward analysing your business portfolio to check whether there are rental units for which rent can be raised. For instance – those that offer superior amenities.

These analyses take time and need scrupulous attention to numbers. A good property accountant will conduct the research and suggest practical ways to maximise revenue.

Balance Your Books Today!

Yes, you can manage your business accounting, but it can be highly frustrating and time-consuming. And if done with accuracy, it can save you money and time.

Trust an experienced property accountant in Brisbane and cut your hassles in half! Focus on core business operations as your accountant takes care of the finances. Keep growing!

Resources

https://www.ato.gov.au/General/property/

https://business.gov.au/finance/taxation/taxes-on-your-property

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Business

A Complete Guide to Boat Financing: Everything you need to know

Sheldon Cooper

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A Complete Guide to Boat Financing: Everything you need to know

Purchasing your boat is an excellent option to go exploring! You’re in luck if you’re wondering how to acquire a boat loan or how boat financing works. Although purchasing a boat may be a pleasant investment, it can also be too expensive. It is helpful to think about a few options. Essential factors are mentioned below for reliable boat financing with bad credit. But before diving into the elements, first look at the introduction of boat loans- what it is all about.

What is a boat loan?

Boat loans are specific personal installment loans that internet lenders, credit unions, and banks provide. You will start paying set monthly payments once you take out a boat loan and continue until the loan is repaid. A fixed interest rate and any costs levied by the lender are included in the monthly installments.

Usually, lenders provide a selection of payback arrangements. Your credit rating, debt-to-income ratio, income, loan size as well as whether you take out a secured or unsecured loan will affect the loan duration and interest rate you are eligible for.

Factors to Consider when financing a boat:

Before you get into the details, there are a few things you should be aware of when you begin financing a boat.

Get Pre-Approval

Getting pre-approval is one of the finest things that can happen when you buy a boat. This is a document that the lender will provide you with, assuring you of a specific loan amount should you proceed with your application. With a pre-approved boat loan, you may shop for the boat of your dreams with the assurance that you will have the funds to do so. This may give you the confidence to haggle for a lower price at the dealership. A pre-approval will also enable you to create a budget, guaranteeing that you won’t go overboard when you buy the boat.

Finally, a pre-approval can expedite the boat loan application process. This will significantly shorten the processing period, allowing you to get authorized and start looking for the boat of your dreams much sooner.

Recognize Your Credit

Lenders check various credit profiles that can meet their requirements – even if they have bad credit. Before applying for boat financing with bad credit, you should verify your credit score. Most lenders need a credit score of 700 or better for boat financing. If your credit score is terrible, some lenders specialize in subprime loans.

Each provides a suitable boat loan option selection to meet your requirements. However, you should avoid having many hits on your credit profile from various lenders in a short period since this might appear suspicious.

Consider the Operating Costs

No matter what kind of boat you want to buy, it’s always crucial to consider its maintenance costs. The larger cruise ships may drain your bank account quickly, from anchoring to engine maintenance, and for those who enjoy traveling, lots and lots of gasoline. A small yacht might be easier to handle and won’t have as much financial impact on you.

This is why, before submitting your loan application, you should carefully assess the sort of boat you want to buy. In addition to the purchase price, you will need to pay a sizable sum for operational expenses, which might influence your future financial stability.

Consider Boat size

The boat’s size and planned purpose should also be considered when purchasing. Do your research to be confident of what you’re receiving and what the boat’s size means for use, transit, and storage. Are you looking to buy a boat to carry your entire family on fishing expeditions every other weekend? Or you may intend to traverse the globe aboard your boat, where other matters will take precedence. Or, if you like a more busy weekend, you might be more curious about the boat’s top speed.

Consider the operational costs.

Consider the costs associated with maintaining the boat you intend to buy. The larger cruise ships may drain your bank account quickly due to docking fees, engine maintenance, and high fuel costs for those who enjoy long-distance trips. You will be more financially constrained, and managing a small boat may be more straightforward.

Because of this, you should carefully assess the sort of boat you want to buy before submitting your loan application. In addition to the purchase price, you will also need to pay for operational expenses, which will strain your finances in the coming years.

Conclusion

Each significant element must be considered when deciding which boat to purchase.

Resources

https://www.bankrate.com/loans/personal-loans/how-to-qualify-for-a-boat-loan/

https://www.moneyadvicetrust.org/advice-services/how-to-deal-with-debt-guide/

https://www.forbes.com/advisor/personal-loans/best-boat-loans/

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