研究报告ResearchReport海通国际27Jun 2025HAITONG中国化妆品China(A-share) Cosmetics美妆品类618全周期淘系和抖音双平台调研报告 Research Report on the Entire 618 Cvcle of the Beauty Category on both Taoba /Trmalland Douyin Platforms,寇媛媛YuanvuanKou热点速评FlashAnalysis(PleaseseeAPPENDX1forEnglshsummanl,快速拉动销售增长转而注重给予新品和质量优品流量支持。抖音5.13-6.18启用带货达人超13001100位达人显着增长。过增强投放能力结合平台流量扶持，实现自播、货架及风险提示:外部环境变化;本研究报告由海通国际分销,海通国际是由海通国际研务示证券集团其他各成员单位的证券研究团队所组成的全球品牌各成员分别在其许可的司法管辖区内从事证券活动。关于海通国际的分析师证明,重要披露声明和免责声明,请参阅附录。se see appendix for English translation of thedisclaimer)
中国化妆品APPENDIX1SummaryDuringthis year's618 period, the Taobao/Tmall platform was the main battlefield for beauty product sales, but the sales werslighty wer th an expected. The beauty product sales growth rate on the Douyin pltform was higher than that of the overalThe GMV of the Taobao Imall platform from May 13 to June 20 was sightly over 40 bllon yuan, with a YoYt.The overall growth rate of the Taobao/Tmall platformeakened the burst power. Last year's cross store ful-a daily growth rate,holongersolelypursue GMV but focus oni new products and high-quality products.The beautntly over 30 billion yuan, with a YoY growth rate of over 30%, highely due to platform support and brand volumeupport and brand位费"(afixedfee"坑位费"forice range hadin haveagrowthrate ofShave a growth rate of around40%;I mid-priced big brandsent. During this year's 618,I,brandsme brands with slow growth (such astrafficstructures and injecting low-costthe number of influencer live streamingbauty helf comerce slesraio duing this 68if sales ratio of the Douyin platform. This was mainh27Jun2025
中国化妆品 led to setbacks ininfiuencer broadasting on both platorms. The growh of omtfy onhere was support and new product strategies. Douy in sexpected to recover after the publicopinionsales on Taobay Trml during the 618 period were affected by public opinion and were lower thante was about 35% before the public opinion incident, but it gradually delined after the incident. Theand June both increased by more than 5% Experts sid that the main dropin the middle and late periods was and the sales performance of shelf factoriesImall platform will laterle brand will also make joitements with multiple parties. The brand wilIn July, the brand plans toreleasevideos to win back consumertrust duringoductsinJulvand August.On theDouviitasting dropped sharplyfrom 30%-40% performance of influencer broadcasting was poor, with the highest single1iehtly lowver GMV onthe Taobao /Tmallplatform this 618, and theDouyin platform this year with a high growth rate.er-expected performance onty brand on the Taobao /Tmalplatform, with the platfornMAOGEPING's products are actively launched, and thehections todiferent levelsof departments. During the 618 period, thet...
