Beauty and personal care products firmly hold the TOP1 position in market share, accounting for as much as 19.66%. Although the overall market GMV has declined compared to the previous period, sales in the beauty and personal care industry have risen against the trend, reaching $114.89M.
The increase in sales and the rise in average transaction price reflect consumers' growing demand for the quality of beauty and personal care products. While pursuing cost-effectiveness, consumers are more willing to pay for high-quality products.
In June, the beauty and personal care market faced challenges such as a decrease in the number of active products, video creators, and product-promotion videos. However, the number of active small shops rose against the trend, highlighting the intense market competition and the harsh reality of survival of the fittest. To respond to market changes and seize development opportunities, merchants should focus on a boutique strategy, concentrating on improving product quality, optimizing user experience, and strengthening brand building.
