Apr. 19, 2012 (China Knowledge) - China saw its cosmetics online shopping market reach RMB 37.26 billion in 2011, reflecting a year-on-year increase of 66.6%, according to a leading Chinese online market research company.
In 2008, the country's cosmetics online shopping market surged 97% to RMB 6.02 billion, and doubled that to RMB 12.49 billion in 2009, and follow by an increase of 79% to RMB 22.36 billion in 2010.
Analysts estimate that China's cosmetics online shopping market could soar 54.8% to RMB 57.66 billion or USD 9.1 billion in 2012, increase 32.2% to RMB 76.25 billion in 2013, up 29.6% to RMB 98.81 billion in 2014 and surge 25.2% to RMB 123.72 billion in 2015.
The consecutive years of strong growth were partly boosted by the influx of more well-know international brands in the Chinese online shopping market, analysts added.
Many famous cosmetics suppliers have also entered tmall.com, a unit of Taobao.com, a leading Chinese online B2C portal owned by Alibaba.com Ltd<1688
Olay, an American skin care line, set foot in Chinese online shopping market in 2008 via the tmall.com portal, followed by Procter & Gamble (P&G) a year later, Face Shop and Missha in 2010, Kose, Garnier, Loreal, Mentholatum, Meutrogena, Maybelline in 2011, Za, Yuesai, Benefit, Watsons and Tsubaki in 2012, sources reported.