Top Hidden Trends in China Consumer Sector- Suggested by Data
Next-gen beauty products, liquid coffee concentrates, and Frisbee
The world is constantly changing, and we always crave to know more about new things. For many of our readers, the curious animal inside us is simply insatiable. Usually, one relies on tips, news, some dinner conversations with friends to know about these things. At BAiGUAN, we use technology to systemically scan across the entire public domain on a daily basis to spot emerging market trends.
This is the first part of a running series, Hidden Trends, where we periodically showcase the fastest-growing segments (such as e-commerce, social media, retail, job hiring, etc.) in China that deserves your attention, drawing from our massive datasets, analyzed with NLP algorithms.
In today's newsletter, we will pick five fastest-growing product categories in the last six month window with average monthly online sales of more than RMB 10 million (~$15 million). The data tracks China's largest e-commerce platforms for branded products such as Tmall, JD and Douyin.
No.5: Handheld laser beauty instrument 激光美容仪
The demand for sophisticated but convenient beauty services at home has contributed to the rise of this product category. Now, instead of paying a visit to an offline clinic, a consumer can just sit in sofa, treat him/herself with high-quality facial care experience and while watching TV. The whole household-grade laser beauty instrument segment has reached online annual sales of close to RMB 6 billion (~$930 million), with 2022Q4 YoY growth rate of a whopping 180%. The segment is led by Japanese firm Ya-Man (6630.TYO) and tencent-backed AMIRO 觅光, which collectively has over 51.2% market share of the segment in Jan 2023.
No.4 Collagen drinks 胶原蛋白饮料
It is no surprise another anti-aging category makes it to the top growth areas. Collagen drinks sales have doubled in 2022H2, with most of the growth coming from the Douyin platform, despite dubious effects.