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Skincare items popular despite cost

09-06-2010 14:58 BJT

BEIJING, Sep. 6 (Xinhuanet) -- Beijing office worker Susie Zhang is a skincare manufacturers' dream come true.

The 29-year-old routinely squanders half of her 4,000 yuan monthly salary on facial-care products alone.

A peek in her bathroom reveals a wide array of colorful bottles filled with various liquids and creams lined up like soldiers in formation.

Included are many of the products Zhang applies to her face every morning, including toners, serums, moisturizing lotions, eye creams, sunscreens, makeup base, liquid foundation and loose powder.

"Every evening, I use even more skincare products including scrubs, facial masks and many others. I think skincare and beauty products are an investment that pays you back," said the advertising industry worker.

Just like Zhang, about 68 percent of Chinese consumers agree that spending time and money on their personal appearance is an important aspect of achieving a state of well-being, a report by research firm TNS Research International.

Serene Wong, CEO of TNS in China, said that the skincare product market in China has leapt from $44.83 billion compound annual growth rate (CAGR) in 2002 to $66.6 billion in 2009 and is expected to reach $77.84 billion by 2012. Compound annual growth rate is the year-over-year growth rate of an investment over a specified period of time.

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