14 Oct 2019
Posted in Retail
Japanese cosmetic brand RMK turns to Tmall Global to tap lucrative APAC market, says GlobalData
Japanese cosmetics brand RMK has launched a new flagship store on Chinese e-commerce giant Tmall Global. The move is part of RMK’s larger focus to tap the lucrative Asia-Pacific (APAC) beauty market and create stable platform for beauty brands in China, says GlobalData, a leading data and analytics company.
Shagun Sachdeva, Consumer Insights Analyst at GlobalData, says: “RMK is already available in Japan, Taiwan, Hong Kong and South Korea. The calculative move to tie up with Tmall Global has been made to indulge in omni-channel retailing with an aim to increase its presence in high value Chinese market and get access to a wider customer base.”
According to GlobalData, the ‘Cosmetics and Toiletries’ market in China is growing at a steady pace and is almost double than that of in Japan in 2018. The company’s 2018 Q4 consumer survey reveals that 63% of Chinese consumers prefer online channel to buy beauty and grooming products.
Sachdeva concludes: “The strategic decision to expand seems to be driven by rising popularity and growing demand of Japanese beauty products among APAC consumers owing to perceived safety, better quality and multi-functionality. The brand has grabbed the opportunity looking at the high intensity of J-beauty products being imported in China or bought by Chinese visitors in Japan. With the launch on Tmall Global, the company aims to target such customer base first and then include more products in its range soon.”