Editor’s Note: This article is the sharing of L’Oreal China Consumer & Market Insight Director Tao Jun at the “WISE×C2M Intelligent Customization Eco Summit”, which was edited and released.
L’Oréal China Consumer & Market Insight Director Tao Jun
Distinguished guests, good morning everyone, I am very honored to share on behalf of L’Oreal. The theme shared with you today is to let the beauty be tailored for you in “Your Times.” Now more and more consumers, especially young consumers, want to be able to master more and more voices or have a stronger sense of participation in the process of interacting with brands. We hope that products and services can be customized. . So we call such an era “your age.” In such an era, the ability of brands and manufacturers to tailor for consumers is very important.
A few minutes to introduce L’Oreal before sharing the case.
L’Oreal was born in 1909, and the company’s mission is to “make everyone have beauty.” Over the past 110 years, L’Oreal has become the world’s largest cosmetics group through the efforts of L’Oreal owners. L’Oreal entered China in 1997, when the goal was to “make every Chinese woman have a lipstick.” In the past 22 years, we have been working hard towards this goal, and our footprint has been developing. We have set up a research and development and innovation center in China. There are two factories. It is also important to create a combination of 23 brands that meet different needs and cover different channels for Chinese consumers.
L’Oreal started from scratch and is now the largest beauty group in the Chinese market. China is also the second largest market for L’Oréal Group in the world. In 2018, we achieved the highest growth rate in China since 2004. China’s consumer demand and upgrade space is very large. Most importantly, China has become a global digital and innovation hub for L’Oreal.
We conclude that behind L’Oreal’s success is all consumer-focused strategic thinking. Constantly creating a desirable brand, constantly breaking through and pursuing superior product innovation, as well as the disruptive new marketing we have been looking for and the new retail of online and offline deep integration, and always taking on social responsibility, and behind this The core is to focus on the needs of consumers.
How does L’Oreal think about this market in such a time when a consumer has a strong sense of participation?