Key leaders from China’s beauty industry came together at WWD China’s second annual Beauty Inc Awards ceremony and Beauty for Future Summit in Shanghai last month to discuss the future of beauty there. Sustainability was a key topic, as guests including Zhuang Mudi, secretary of the party committee of Fengxian District (home to the “Oriental Beauty Valley), Rene Co, chief sustainability officer of P&G Greater China, and Jenny Chen from the Jala Group addressed the “new normal in the post-COVID-19” era as the green industry develops.
“Sustainability is not about environmental protection only,” said Lena Yang, chief executive officer of WWD China, who hosted with chief content officer Johannes Neubacher and Beauty Inc China’s newly appointed editorial director, Helena Hu. “We should think about how to achieve sustainability in commerce, humanities, culture and the environment. Sustainability has now become an important force that facilitates the upgrading and transformation of the entire industry.”
Mudi spoke of the commitments that the Fengxian government has enacted to help facilitate companies doing business in the region, while Co shared insights about P&G’s sustainability efforts and how the company is addressing packaging issues in a time of unprecedented e-commerce activity.
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That’s why Procter & Gamble has innovated their packaging materials and launched degradable, environment-friendly packaging that can protect products during transportation and be recycled afterwards. P&G has also made the packaging patent available for the entire industry in the hope that all practitioners would act together to achieve sustainable development of the beauty industry. “The path of sustainability is an endless one and every step is one moving forward,” Co said.
Sun Xiaocheng from CBNData shared insights from the company’s recent Gen Z Beauty Report. Among the key learnings: Gen Z females from tier 1 and 2 cities are the main online shoppers for skin care, with a much higher than average spending and growth rate than from tier 3 cities and below.
The report also found that Gen Z has started to adopt skin care routines at a much younger age than previous generations, and that the price they are willing to pay for products has increased every year.