L2 recently released a series of Beauty studies examining the U.K., Germany, France, China and U.S. markets. In this new video, Head of Research Maureen Mullen points out a few global trends. Mullen said all major beauty players are using e-commerce in all countries, but it is interesting to see which countries they are winning and losing in. For example, China Beauty brands derive 12 to 15% of their sales online vs. 3% to 4% in Europe. The U.S., which is thought of as a leader in e-commerce trails China by percentage.
Mullen named P&G, Estée Lauder Companies, and L’Oréal as global winners. Estée Lauder Companies provide a consistent experience across countries and launching in new markets with speed. P&G is a clear winner in tapping local nuances and tailoring its approach. Its Taobao shop is ahead of many others in followers and reviews. Despite lagging in Europe, L’Oréal has fully understood the impact of social in China and strategized accordingly.