Market characteristics
For cosmetics companies, campus markets generally enjoy higher level of education, besides, it also owns the following distinguished characteristics:
Large customer base
Until 2011, it is recorded that China universities amounted to more than 3000, containing higher colleges, with each school owning average 15 thousand students, and the total number of university students including vocational college, reached 47 million, and they are mainly spread to major cities with facilitate to go shopping.
Increased purchasing power
Recently, the rapid development of national economy has driven increase of individual income, considering more single children growing up in privileged environment, their requirement can always be instantly satisfied as long as in a rational range. However, after entering into universities, students have more time and right to choose their own product to plan their future. Especially for females, they regard cosmetics as necessities in daily life and career plan in the future, so an increased purchasing power plus growing demand equals to super promising markets. As it shows in figure 3, 19.08% buy cosmetics every 1-3 months, and 30.04% every 3-6 months.
Consumer concentration
Universities are mostly concentrated in large and medium-sized cities, among which Beijing, Shanghai, Guangzhou, Chengdu, Nanjing such first-tier cities are undoubtedly universities concentration, say Beijing have nearly 80 universities with 8 million students roughly, which provide convenience for companies to broaden markets.
Diverse communication channels
As young people recognize the fresh quickly and share the results of internet revolution, their diverse social activities can range from smart phone to social net work, apps to micro-blogs, they create the newest idea and exchange most fashionate lifestyle, so this characteristics require companies to differentiate products comprehensively to attract target markets.
More informations about Markets of cosmetics among Chinese students
